What about the shenanigan going on in Washington?
I believe the markets know. They know we have to pay the piper. We have to pay for all the grandiose projects we have put in place in the past 60 years by going into debt in a big way. The process is called, in financial jargon, “deleveraging”. Slowly and steadily much of the needed things we liked, but we cannot afford, will be taken away from us.
Those with the right connections in Washington will keep more “goodies” than others. The sad ending is that income differential will continue to increase. I have seen this process in Europe. And the depressing part of the story is that the little guys are going to pay. Exactly those people the social safety network was supposed to help. Why? Because this is how the game has always been played since day one.
George Dagnino, PhD Editor,
The Peter Dag Portfolio.
2009 Market Timer of the Year by Timer Digest
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