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  • Frank Byrd, CFA, CFP®

Two Choices, One Hope



 

US government debt now totals $31 trillion, which equates to roughly $240,000 per American household. That's bigger than the average mortgage balance. Many economists believe debt and deficits don’t matter. We believe they do. It leaves Washington in a precarious position as it balances competing policy objectives (namely curtailing inflation, while maintaining economic stability). The bank failures of last month, we fear, make this balancing act even more precarious. Steve and I recently sat down to discuss what this means. What is the most likely path forward? Steve posits that Washington has two realistic policy choices. Yet, there is one “Hail Mary” path that we can hope for.


You can listen or watch by clicking above.


Although we are hoping for the “hope” path, we believe it unlikely. We thus believe the best investment policy is to remain thoughtfully diversified with a flexible and adaptable mindset.


Yours in the Field,

Frank Byrd, CFA


 

IMPORTANT DISCLAIMER: This note is for educational purposes only. It is not a recommendation to invest in any particular security or strategy, since anything mentioned herein may be completely unsuitable for some investors. Speak with your financial adviser before investing. While the information presented herein is believed to be accurate, Fielder Capital Group LLC (Fielder) makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this email or any attachments. Fielder is under no obligation to notify you of any errors discovered later or of any subsequent changes in opinions. Fielder’s employees are not attorneys or accountants and do not provide legal, tax, or accounting advice. Financial planning and investment strategies have the potential for loss. It should not be assumed that any of the securities, transactions, or holdings discussed will prove to be profitable in the future or that investment recommendations or decisions Fielder makes in the future will be profitable or will equal the investment performance of the securities discussed herein. Investing involves risk, including the potential of complete loss of principal amount invested. Fielder offers no guarantees or promises of success. Nothing herein should be construed as a recommendation to buy or sell any securities. Fielder or its employees may have an economic interest in securities mentioned herein.


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