Minneapolis, MN — All Star Financial announces the addition of Samuel Sexton, as a Senior…
As we see the recent increase in volatility continue I want to assure you we are evaluating our next move(s) every day, hour, and it seems like minute. Straight forward, no B.S., this is a governance issue! If our politicians (both sides of the aisle) would have put forth a good, legitimate plan to reduce our debt burden, Standard and Poor’s would not have had to downgrade our U.S. debt.
Could this be a blessing in disguise? I think YES! This might be the kick in the pants that our representatives, legislators and senators need to go back to work and make the hard decisions. We can debate on whether S&P was right or wrong to downgrade, but the message is clear, we need to get our house in order. Entitlements account for 43-60% of our spending, while defense accounts for another 20% or more. If the democrats and republicans had taken these off the table, my math says there is not much left to cut from. We will continue to see volatility until we can regain some confidence as consumers. Be patient and remember your time horizon and if it is still long-term, now is the time to buy. Please write your leaders to go back to work and give the U.S. some of its dignity back!
As always do not hesitate to call with any questions or concerns.
Bob and the All Star Team