Courtesy of Larry Doyle.
After the dysfunctional debacle displayed in Washington over the last few weeks — and potentially repeated in early 2014 — what is that strong symbolic wind now blowing offshore?
Oh, that is the sound of investment capital leaving our nation.
Not that those in Washington have a real appreciation for it but private investment capital is the lifeblood which fuels our economy.
While those in Washington are now sufficiently addicted to our central banking shell game, aka quantitative easing, why would they be concerned about protecting and promoting the formation of private investment capital? Great question.
The Washington elites may display little appreciation for the importance of private investment capital, but the rest of us should be very concerned because that capital represents the fuel needed to meaningfully drive our struggling economic engine. Highly respected investment manager Dennis Gartman spoke on CNBC this morning and takes us on a quick 3-minute sense on cents navigation of this all important part of our economic landscape:
A lessened flow of fuel with little meaningful octane means a slower economy, little wage growth, and an increasing fiscal deficit. A nice legacy the folks in Washington are leaving future generations.
Navigate accordingly.
