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Social Security, Medicare, and Medicaid
spending represent a significant portion of the government
budget. With the first of 78 million baby boomers retiring this year,
the trust funds that support these programs are entering a period of stress
unlike anything they have experienced to date. We look at the structure of the funds backing these programs and
assess their solvency over the next 10 years and beyond. We also look
at the proposed policies of the
Presidential candidates and the steps they will take to insure entitlement
benefits for future generations.
Vitaliy Katsenelsen provides his analysis
of the Chinese economy, which he likens to Starbucks. Both
are in a state of Late Stage Growth Obesity, and he looks at the specific
challenges that Chinese investors will face.
The debate on luck versus skill in active
management continues. Tom Howard, CEO of AthenaInvest,
responds to Dave Loeper's article last week, and defends his position that
active management is a sensible choice in today's markets.
Lastly, we highlight some recent Advisor
Market Commentaries.
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