This article, a repeat from seven years ago, is actually more relevant today as the federal debt spirals out of control without even a solid crisis to explain it.
Those of you who are regular readers know that one of the basic principles of Barataria is that over the long haul there are very few surprises. Great empires come and go, economies hum along and then break, and new technologies add sparkle to our lives – but people are still people. When we take a strong half-step back, far enough for some perspective but not so far back we can’t keep our hands dirty, just about anything starts to make sense.
Today’s piece is a small summary of one small part of a breathtaking interview with Dr. Lacy Hunt of Hoisington Investment Management, conducted by Kate Welling and published by John Mauldin. The original article is a must read, but it takes hours to read, digest, and re-read. But there is one part that demands more discussion – and has a killer graph.