The sampler. This week’s edition of the Evergreen Virtual Advisor is a trilogy of recent short articles by three of my favorite thinkers at our partner firm Gavekal. The first is a timely essay by Tan Kai Xian (fortunately he is kind enough to let us refer to him as KX!). As you will soon read, he reflects on last week’s embarrassing flame-out of Obamacare reform and discusses the potential implications for tax reform.
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.