Quote:
Originally Posted by Stu from NYC
One would hope that once the virus is under control and the economy back to normal the govt will stop running huge deficits by getting the budget under control and while they are at it bring social security back to a firm footing.
Of course I also believe in the tooth fairy and Santa.
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My view. The virus-we all tend to focus on one issue. If, the virus is brought under control by sold as miracles with no side effects vaccines, we will find other issues, see other issues.
Back to normal? That is a language a communication problem. Things never go back to normal. Normal itself, what is normal? We will, we always do create a new normal.
Deficits? Deficits have become the new normal. Our economy, interest rates are controlled by our government. It was not that long ago that a ten year treasury would pay 2% above the rate of inflation oh and not important in Florida, it was it is free of state and local taxes. Interesting and amusing to me the Fed which issues the bonds still take their full bite out of returns. I read a while ago that social security holds 40% of the national debt. As far as the rate of inflation the CPI consumer price index recently was calculated at 3.7%.
What to do? As I am not a professional or an advisor, I can state the truth-beats me.