Upsetting the dollar cart? The year 1971 has been on my mind a lot this week. On a personal note, my wife and I have been staying at one of Arizona’s oldest and most charming resorts, the Wigwam, right outside Phoenix. It was established in 1927 by the Goodyear (as in tires) family on a “mere” 17,000 acres. Upon arrival in those days, guests were given a key—and a horse! Even on horseback, it must have taken weeks to see the entire spread.
“Impressive scholarly research has demonstrated that the government spending multiplier is in fact negative, meaning that a dollar of deficit spending slows economic output.”
-Economist and bond manager extraordinaire, LACY HUNT
“And you experts in the law, woe to you,
“Each generation will reap what the former generation has sown.” -CHINESE PROVERB
“If everybody is thinking alike, then somebody isn’t thinking.” -GENERAL GEORGE PATTON
This month’s Gavekal-authored version of the Evergreen Virtual Advisor addresses what seems to be on everyone’s mind these days—you guessed it: The US presidential election.
“We can’t solve problems by using the same kind of thinking we used when we created them.”
In this month’s edition of our Gavekal-authored EVA, we are giving readers a sample of three different views from our partner firm.