Buy the U.S. for the Long Term – Despite All Its Dysfunction
Late last year, it was a rarity to go one day without hearing the term, “fiscal cliff” – that point in time when we would go “over the edge” causing drastic cuts to spending and tax increases if a political settlement wasn’t struck by the new year. Eventually a deal was worked out at the very last moment before markets opened for the first day of trading in 2013. The behavior of the stock markets since mid-November was fascinating in retrospect. With one crisis after another