No! Yes, the U.S. Treasury is in the process of borrowing $3 trillion to pay for the coronavirus response. It is not surprising that this unprecedented increase in the national debt has given rise to the issue of default. But the short and simple answer is, no, because the government can print money. If you borrow … Continued
This is a quote from Warren Buffett, who has been a consistent voice of optimism regarding the U.S. economy and American innovation, during a March 10 interview with Yahoo Finance. Mr. Buffett went on to say, “we haven’t forgotten how to make progress in this country”. At the recent Berkshire Hathaway annual shareholder meeting, Mr. … Continued
There is smart investing and not so smart investing. Smart investors work with a trusted advisor(s) to develop a long term strategy that reflects their resources, risk profile, and other factors that are relevant to their specific circumstances. Smart investors avoid impulse transactions, understand their portfolios and remember that investing, as contrasted with speculating, is … Continued
“Necessity is the mother of invention” is a proverb that means, roughly, the primary driving force for most new inventions is a need. Now, with the world in the throes of dealing with the health and economic impact of Covid-19, the need for solutions could not be higher. While it is essentially impossible to describe … Continued
Predictive modelling uses statistics to predict outcomes. It is important to recognize that models are only as good as the modeler, who is only as good as the available data. Modelling is essentially an exercise in collecting and combining available information and, to some extent, estimates by the modeler. Some, but not all, of … Continued
According to Wikipedia, a black swan event is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight. In other words, a black swan event is being blindsided, followed by finger pointing, based on 20/20 hindsight. Black … Continued
“The Boy Who Cried Wolf” is one of Aesop’s Fables and concerns a shepherd boy who repeatedly tricks nearby villagers into thinking a wolf is attacking the town’s flock. When a wolf actually does appear and the boy again calls for help, the villagers believe that it is another false alarm and the sheep are … Continued
Busy hands are happy hands is an old cliché associated with the idea that staying busy can contribute to happiness. Historically, it reflected the thought that doing physical work and keeping busy would give you a more positive outlook on life. In today’s world, with many Americans substantially confined to their homes, keeping busy can … Continued
Alone is a condition brought about by circumstances, and for the most part, is what it is. With large numbers of Americans finding out that “Home Alone” is not just the name of a popular movie, alone is becoming increasingly common and not a matter of choice. Lonely is another matter. Wikipedia defines loneliness as a … Continued
Maybe I should not be surprised at the speed and rate at which Americans have risen and mobilized to fight this war… but I am. I am truly amazed. If we saw it in a movie we would not believe it. American spirit, ingenuity and business are now on display and it is nothing short … Continued
My mother-in-law was admitted to St. Joseph’s hospital Ann Arbor in early February for a chronic abdominal ailment. Five surgeries later, and after suffering a stroke, we got word on Sunday evening that she was presenting with Covid-19 symptoms and was being transferred to the 10th floor to be put on a ventilator. At 81, … Continued
The $2 trillion coronavirus-relief bill that was signed into law on Friday contains several provisions related to retirement accounts that will affect the manner in which we plan for clients. Relaxed Required Minimum Distributions for 2020 Similar to the provision that was included in 2009 legislation, required minimum distribution from IRA’s and 401(k) accounts have … Continued
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