Good afternoon,
There will be no mention of last week’s elections or passing of yet another government spending bill or proposed installation of various rules and mandates or Aaron Rodgers. As I try to view the world in a more stoic light, none of those topics would rise to the level of commentary because they are well beyond my control. I do have opinions, naturally, on all of that and more, and would be happy to discuss them one on one at any time. See my calendar link below to schedule a talk.
I’ve opined here before in a rhetorical fashion about the need for us mere mortals to actually pay taxes if the government is spending more money than it has and simply printing what it needs. And I don’t mean that inquiry to be facetious, I would really like to know why taxes are necessary when the printing presses are far more efficient. So I reached out to the economics team at First Trust Portfolios, one of my preferred investment providers and a group that I follow regularly with that very question. When I told my FT contact that I wanted him to move that question up the ranks, he first asked if I was indeed serious about it, I was, and then promised to pass it along. The next day he called with my answer, “If the U.S. didn’t have a taxation system in place, then the rest of the world wouldn’t trust our ability to repay our debts and our currency would be devalued. The system shows that we have a mechanism to pay our bills, thus keeping our credibility in tact and our credit rating high on the global stage.” Hmmmm. I guess that makes sense, but I kind of still don’t get it. Especially when we routinely spend far more than we have. Anyway, here is a link to the First Trust Econ team if you want to follow them as well, https://www.ftportfolios.com/retail/blogs/economics/index.aspx
Speaking of economics, here is something that can be referred to as a “leading indicator,” sales of pregnancy tests are up. https://www.cnbc.com/2021/11/09/baby-boom-ahead-bank-of-america-says-thats-good-news-for-these-stocks.html So the lockdowns haven’t kept everyone isolated exactly.
Which may mean, obviously, that consumption of various consumer goods, think food, clothing and furniture among others, may be set to increase.
Crypto continues to be in the news so crypto news continues to be in the WMR.
This headline is from Monday, November 8, 2021, so it’s quite possible that it may be out of date by the time you read it. Nevertheless, various currencies are making new highs.
https://www.cnbc.com/2021/11/08/cryptocurrency-market-latest-ethereum-and-bitcoin-prices-climb.html
Lost in that development is the fact that the good ‘ole markets themselves, as measured by the S&P 500 and the DJIA, are also making new highs.
https://www.cnbc.com/2021/11/08/four-sp-sectors-hit-new-highs-two-traders-pick-their-favorites.html
Do you own shares in the constantly rising dividends of the greatest companies in the world? Like that old lottery commercial used to say, “you can’t win if you don’t play.” Which reminds me of another famous quote, “If you don’t know where you are going, you might wind up someplace else.” – Yogi Berra.
The new mayor of NYC says he’ll take his first 3 paychecks in bitcoin. Which is purely a PR stunt. Technically speaking, he’ll have to take his salary in real American money and then he can convert it to bitcoin if he chooses,
What is a better PR stunt, and one that is likely to be very effective, is the Miami mayor angling to make his city a crypto hub, https://video.foxbusiness.com/v/6280933191001#sp=show-clips
Industries, and money, go to where they are treated best and if Miami treats crypto well, crypto will come.
Once again, as I mentioned last week, Lincoln has a webinar coming up next week concerning longevity and long term care. If you have any interest at all, and you should, please register using the link below. Here again is the invite. Save the date, November 16th at 5:00pm EST. The official verbiage of the invite is below, which, per compliance, I had to include verbatim. So if it doesn’t sound like I wrote it, it’s because I didn’t.
Hi WMR enthusiast,
I hope you and your loved ones are well.
Caregiving needs and options have become an increasingly important topic of conversation over the past year. Dr. Ken Dychtwald — Founder and CEO of Age Wave — shares how aging and longevity trends are impacting the need for long-term care planning and what Americans should be talking about with their loved ones.
I want to share the registration link to “The New Long-Term Care Equation” so you have the opportunity to hear Ken’s insights on November 16th.
https://event.on24.com/wcc/r/3391148/16707DA5BDE9355B492CE40C3ECF5CA3
If you’re interested in learning more, let’s connect to talk about long-term care solutions and how they can fit into your overall financial plan.
Thank you,
Michael Acho
This presentation is sponsored by Lincoln Financial Group.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates, including broker-dealer/distributor Lincoln Financial Distributors, Inc., Radnor, PA, and insurance company affiliates The Lincoln National Life Insurance Company, Fort Wayne, IN, and Lincoln Life & Annuity Company of New York, Syracuse, NY. Affiliates are separately responsible for their own financial and contractual obligations.
LCN-3774491-092021 MG-KDCON-EML002_Z01
So there you go. I’ve heard Mr. Dychtwald many times and he’s excellent. I will be tuning in on the 16th. Please register and feel free to pass it along to friends/family/colleagues.
In closing this week, I happened to meet a psychiatrist recently. It was a chance meeting and a short conversation. I mentioned that I’ve engaged multiple therapists over the years, but never a psychiatrist.
“Are you depressed?” he asked.
Perhaps a little from time to time, but not in general.
“Do you worry?” he continued.
Nope, that’s not really what I do.
“A lot of people I talk to are worried because they’re not worried.” He enlightened me.
What?
“They worry that they should be worried about something but they’re not.”
Hold on doc, you’re making that up. I didn’t know him so I didn’t have to be particularly forgiving in our discussion. You’re saying I should be concerned that I’m not worried? That not worrying is something I should worry about?
“It’s true.”
I don’t buy that. Have a great day doc, see you around.
This week’s chuckle is a baby and a dog. Because babies and dogs are funny, https://www.instagram.com/tv/CVaf1y7AC1j/?utm_medium=share_sheet
Safe for work.
LF27 – “If a problem is fixable, if a situation is such that you can do something about it, then there is no need to worry. If it's not fixable, then there is no help in worrying. There is no benefit in worrying whatsoever.” – Dalai Lama XIV.
You know I can’t mention the Dalai Lama without including the Dalai Lama scene from Caddyshack as this week’s chuckle #2. So I got that going for me, which is nice. https://www.youtube.com/watch?v=X48G7Y0VWW4
Safe for work.
Have a great week and stay healthy.
This material includes links to third party sites not affiliated with Lincoln Financial Advisors. Lincoln Financial Advisors is not responsible for the content and does not guarantee the accuracy of any information or material contained therein. The opinions expressed are those of Michael Acho and not necessarily those of Lincoln Financial Advisors Corp. CRN-3908460-110921
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Michael J. Acho, MBA, CFP®
Private Wealth Advisor
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