Dear Diary

It’s rare that I get wrapped up in the news cycle. I’m not a news junkie. But this week, something crossed my desk that I simply could not ignore. We all lived through the pandemic and were presented with data from the media that did not always line up with basic science. Those scientists, pathologists, and doctors who presented data that contradicted the official narrative were ostracized as quacks and conspiracy theorists.Kudos to Senator Rand Paul for getting his hands on the Dr. Anthony Fauci’s diary. Dr. Fauci was the government’s face of the pandemic for nearly 3 years. Dr Fauci was seen as recommending social policy to deal with what was an epidemic. His testimony before Congress seemed to be more focused on protecting his personal interests and that of a few researchers than getting to the truth. The entire document is 1141 pages in length and the diary starts on pageI’m not a cynic and I am not a conspiracy theorist. Dr. Fauci’s own words clearly contradict his own public statements. The reason this is so important is that the lives of billions of people were upended for several years. The economic and social impact was severe. We are still dealing with the aftermath of the decisions that were made at that time. The unintended consequences of decisions that were probably well intentioned are still with us. Those decisions bankrupted many investors in commercial office real estate. Those decisions created short term demand for products that defied the long term trends. We saw a spike in demand for campers and RVs. We saw a spike in demand for vacation properties. We saw supply chain disruptions on a scale that we had not seen probably since the second world war. If there is one thing that the pandemic taught us is how to build more resilient supply chains that quite frankly we now in the current geopolitical climate and we will certainly need in the future. -----------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)   iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)   Website: [www.victorjm.com](http://www.victorjm.com)   LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)   YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)   Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)   Email: [[email protected]](mailto:[email protected])  **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)   Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)   Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)