I'm writing to you from a high-speed train that's taking me from Seville to Madrid, where our trip to Spain, which indeed began in Madrid, will finally come to an end.

Both are such great, lively cities. (I have visited still other great places in Spain on other occasions.)

Madrid, which I've now visited for a fourth time, is outrageously underrated among European cities. Seville is extremely charming and full of life, with throngs of people outdoors eating and enjoying themselves at the wide variety of restaurants with outdoor seating, and of course the cathedral there is an absolute marvel whose very existence nearly defies belief.

Incidentally, the remains of Christopher Columbus rest in the cathedral in Seville. My wife and I wondered how the audio tour would approach the subject of Columbus. We didn't have to wonder for long: "Christopher Columbus discovered America," it said, without pausing to allow for controversy.

Again, there is life in these cities. They're not ghost towns. They're full of people enjoying life. And speaking of the people -- who appeared to appreciate my workmanlike but decent Spanish -- we loved them.

We couldn't help calling to mind the harsh lockdowns they'd had to endure. Dave Howden, my friend who chairs the department of business and economics at the Madrid campus of St. Louis University, told us that he and his family had been forced to stay inside their apartment (for who knows how long). He could do his work remotely, but of course others weren't so lucky.

(We dined with Dave in Madrid at a Michelin-starred restaurant called DiverXO, which gave us the most striking culinary experience we have ever had.)

Even if that never happens again, though, there will always be recessions, times when many people will suffer similarly to how they did during the useless lockdowns.

And the question is: how do you expect to survive through one of those?

What if you had a business that did well during good times and bad, and indeed was specifically designed that way?

Then you'd have less anxiety than most entrepreneurs.

There is a way to do such a thing, and it's incredibly obvious once you see it. But next to no one thinks of it.

Final call to get the answer:

https://www.tomwoods.com/recession

Tom Woods

You are receiving this email because you've purchased one of my products or requested one of my free eBooks or videos on running online businesses.