inflation is the downside of this strong economy. what are the challenges for 2022? number one the virus not under control. number two, labor shortages could they slow the recovery? number three inflation at a level not seen in decades and experts don t expect that to cool down until the second half of the year, number four the federal reserve. what if they blow it overreacting as they try to cool the economy, risking a recession and the ever present possibility much unpredictable global political event threatening global stability, think russia, china, iran, anything could jack up prices. that s my job to worry about the big whale out there, the exogenous shock, the black swan. the economy on a solid ground headed into the new year, john. like i needed more to worry about. what s up with that? 27% in the s&p 500 you re probably not worrying about your 401(k) over the past couple of years even as the health crisis has really been a problem. corporate profit margins are at
brian peters, we wish you the best of luck. thank you so much for being with us thank you. stay safe. so one in three americans thinks violence against the government can be justified. michael smerconish joins us on this. plus, why new york city s new mayor had to call 911 in his first hours on the job. an eventful 48 hours in office. plus, congresswoman alexandria ocasio-cortez clapping back at opponents, calling them creepy weirdos. how bizarre by omc c no annual fee on any discover card. vo: my car is my after-work decompression zone. music vo: so when my windshield broke. i found the experts at safelite autoglass. they have exclusive technology and service i can trust. singers: safelite repair, safelite replace.
pandemic was kind of the black swan event, as john mentions who is also in the film. there s been a growing trend, an increase of the survivalist real estate market and emergency preparedness in general. you guys might have even covered or many people have covered the kardashians started doing an emergency preparedness kit. everyone s kind of gotten in on it, so to speak, but over the years i d say probably really since 9/11, but recently in the last year or so since the pandemic, there s been a real resurgence or uptick in the growth of real estate options. and this is not the only one. there are many others on the market. i didn t want to just do a survey of real estate options, but here we go into one community really, especially to get to know the people there. but there are things like survival condo, or there s another place i can t recall the
mexico is angry over a clause that will see u.s. inspectors head south of the border. a house vote to approve the deal is expected on thursday. the usmca and the china trade deals helped lift markets. there s an index known as the black swan. it jumped to its highest level in over a year. that indicates investors are looking for protection if the recent rally goes awry. internal investigations are under way at the u.s. military and naval academies after midshipmen and cadets were found on the army/navy pregame show making a controversial hand gesture. some interpret that as a symbol of white nationalism. officials at west point are looking at the cadets in question. the anti-defamation league considers the okay gesture a hate symbol in some cases.
currently have plenty of on the internet to actual violence. that s a reason to worry, i think. steve s great peril is that one day future historians will look back and they will cite steve pinker the way historians today cite normal angel as somebody who was broadly speaking too confident in the trends and underestimated the black swan low probability, high impact events that can completely change the historical trajectory. i have to give you a short response. will you be cited like norman angel. not to anyone who reads me because i do talk about distributions, low probability, high impact events and, yes, they can occur. again, norman angell did not predict that war was impossible, just that it would be ruinous and he was right. on that note, good news and bad news. i have to thank both of you, it was a fascinating discussion, wonderful way to close out the