Interesting question! If we presume that all the near term political disasters are negotiated, then I find myself saying that … I am a coward and value liquidity, so I’d prefer to buy shares than actually invest. I would probably regard the danger/opportunity of devaluation as too great to start driving piles for a new hotel complex. But something like replacing a clapped-out oven in a bakery, or even buying a new delivery van? I think I’d do that. Might also make an investment in a tech company or other easily-relocatable business. Basically anything with a payback period less than three years — on consideration, you’re probably right about the big long-term stuff.