Everett Dirksen, a US senator from quite a while back, was once quoted “A billion here, a billion there begins to add up”. The amount of debt piling up on the federal ledger sheet is something to behold. I’ve never believed in deficit spending. Never thought much of Keynesian economic theory and the government just plain printing money. So far, the Biden administration has not contacted me for economic input. But, man, we are spending a lot of money. And there is every indication there’s more coming.
The attached article, “Who will stop America’s plunge into debt?”, sums it up really well. With free-spending politicians now in charge of both branches of elected federal government, it’s hard to see an end to this. Economically, equities have a long-term performance record of out-performing inflation by a pretty wide margin But it’s important to get this spending under control. Someday, the well just might run dry.
Jean & I just got back from a rush trip to South Florida so I will be available for calls and/or meetings this week. Should you have any questions or wish get together please just call or email so we can put something on the calendar.
Remember, the only choice is optimism, the pessimists never get it right.
PS: This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.