Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.

The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Friday, August 26, 2011

The US Budget Problem

The people want more spending, but they won't vote for higher taxes.  In fact, they want tax cuts as well.  The budget deficit took years to get here, and what's needed is not a massive spending cut/tax hike now (because that will plunge the US back into deep recession) but a plan over 5 or 10 years to achieve balance.

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