Well, here we are halfway through summer. Much of the world is attempting to get back to “normal” after the incredible disruption experienced over the last 18 months. However, finding the “new normal” is proving to be elusive. Mixed signals are everywhere, from the trajectory of COVID to the trajectory of economies around the world. Is inflation “transitory” or is it going to be with us longer than a few months? Real estate was in a heated froth this spring. In July it seems as though home buyers have gone on strike over skyrocketing prices. The same can be said for the car and light truck markets. Problems with the lumber supply chain seem to be resolving. But are they? And then there’s food. It seems as though every week, there is something different missing from grocery store shelves. Finally, there is the labor market. Do people want to work? Or, as suggested in this article from Zero Hedge, are we are experiencing a shift in attitudes about our values and priorities that will permanently alter the labor markets worldwide?
It’s evident that a consensus “new normal” has not yet been established and it may be a while before it is. What we can say is that we live in historic times. We may very well find that due to all of the shifting variables, we have more to say about what our personal new normal will look like than what is imposed on us by external forces. And that seems to us to be a very good thing.
All the best,
The OWNx Team
