They created a tremendous fiscal impulse to pay people to sit at home smoking pot, playing video games, buying Bitcoin, buying AMC, buying luxury watches, buying jewelry, and buying houses. They created a spectacular amount of money. Here we have it.ĭuring COVID, these governments overcooked it. Pest control is recession-resilient, desirable, central, and all those sorts of things. We got liquidity from the courtesy of the Federal Reserve and the US Department of the Treasury, the government putting everything on a credit card. What is a bubble? It's a fantastic story in a boatload of liquidity. In the pest control industry, we have benefited tremendously from that bubble that's blown. ![]() It creates a tremendous amount of distortions in the market that started the stock market on a tear to where we've ended up at a 5,000 year high, not only a sovereign bond bubble but also a stock market bubble. Quantitative easing is a perverse form of government interference. If they spend more, they would rev up the economy. If Americans feel wealthier, they'll spend more. They wanted to reflate the housing market, goose the stock market, and wanted Americans to feel wealthier. In 2008, in response to the great financial crisis, the Federal Reserve embarked on an extremely unorthodox financial experiment, quantitative easing. Paul Giannamore: When you look across the spectrum, all assets have dramatically inflated. “We’d like to thank Mark Curry and his team for hosting Bubble Trouble in their beautiful building, SOL Partners, in San Juan. Hotel Accommodations and general hazing of guests provided by FRANCO VILLANUEVA-MEYER, CFA Live Broadcast Engineering by Eric Westmaas and Andrew DisbrowĬolor Correction and Addition Editing by Garrett WareģD Animations by Andrew Pealock and Dylan SealsĢD Design by Jonathan Visconti, Julian Gonzalez, Jean, and Dylan Seals Opening Film created by Paul Giannamore, Kyle Robertson, and Dylan Seals Produced, Directed, and Photographed by Dylan Seals of Hosted by Patrick BaldwinĮvent coordinated by Patrick Baldwin and Jessica ScoginĪdditional photography by Gabriel González Jim McHale Jr., CEO of JP McHale Pest Management We hope you have as much fun watching it as we did making it.įor more information about how Potomac can help you, call us at 26 or send us an email at We look forward to hearing from you!ĭavid Billingsly, former president of American Pest ![]() ![]() Thank you for watching Bubble Trouble! We had an absolute blast broadcasting Bubble Trouble live from San Juan on May 4th, 2022.
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