AUTHOR: TOWNE SCHERER.COM 6/3/2016: Towne Scherer Private Wealth Management BLOG:
The Three Ring Circus
Gary Johnson wins…the Libertarian nomination for president, according to a 5/29/2016 ABC News report, while a 5/24/2016 Entertainment article has Hillary Clinton, Democratic nominee, discussing Beyoncé as a possible VP running mate on The Ellen DeGeneres Show. Completing the third ring of the circus, Donald Trump, presumptive nominee of the Republican Party, said, “The press should be ashamed of themselves,” in reference to the press questioning of his fundraising haul from high-profile veterans. During a press conference at Trump Tower, Trump said he’s raised $5.6 million and more is coming in. The Larry David look-a-like, Bernie Sanders, still pursuing a Democratic nomination, functioning as the circus clown that transfers attention from ring to ring, says, “He’s heading to the convention even if Clinton Sweeps the California and the New Jersey Primaries,” in a ABC News report.
China’s Huge Debt…To Itself!
Recent data shows the U.S. Debt in the area of $19 Trillion yet this pales in comparison to the $30 Trillion in debt owed by the Chinese, according to LPL’s 5/23/2016 Weekly Economic Commentary. Amazingly, state owned enterprises still makeup 40% of the country’s economy, with “in many instances, though not all, the Chinese government (owing) the money to itself.” Nevertheless, because China owes itself, the major impact of dealing with its debt problems will be felt within its borders. This begs, therefor, this Confucius saying, “If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours.” Actually, that was John Maynard Keynes and it’s a good thing the Chinese don’t have most of their debt with us! A new American saying, I think.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.