We appear to have dodged a bullet in the form of maintaining a $1.3T deficit during this balance sheet recession (and through the coming calendar year), however, the risks at the state level remain largely unknown and difficult to quantify. If the shortfalls are as large as Whitney believes it’s likely that we won’t have the political will for more bailouts. Whitney believes the issues are potentially more frightening than the banking crisis.We pay taxes to pay for government pensions. Can we afford it?
Do not forget. The markets always win. Always. That you like it or not!
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked second best gold timer by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
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