When U.S. equity markets are near multi-year highs, I have to remind myself to keep calm and carry on. My inclination is to raise some cash and be prepared for anything.
Perhaps Fareed Zakaria is right. When I read his words in the February 18th issue of Time, I knew I agreed and decided to borrow an attitude . . . keep calm and carry on.
“If Washington can tackle some of the outstanding issues facing the country, it could create a virtuous cycle. The American economy is recovering. The housing market is slowly re-emerging and will boom again as America’s population grows over the next few decades. The energy revolution is lowering costs for manufacturing while adding jobs in the energy sector. America’s financial sector is in better shape than those of most rich countries. And American households have rebuilt their balance sheets; our savings rate today is higher than that of frugal Canada. A new Congressional Budget Office report has deficits returning to precrisis levels in a few years.”
Progress is Progress
“We don’t need a grand bargain. Even moderate reform–on immigration, gun control, energy policy and (most difficult) the budget–would give a powerful boost to the country, beyond the specific economic impact. Politicians could demonstrate that they can actually govern.
Everyone would get some credit. America would have found its center.” ~Fareed Zakaria
Opinions voiced above are not intended to be specific investment advice. Consult your advisor before investing. Risk exists.