The top 10% of earners have been driving the economy. But now the data shows that even this segment of society is slowing their spending, causing key sectors of the economy to signal trouble ahead.
Today we’re turning over the entire issue to readers. Over the last few weeks, Porter has written about a few topics that have generated more feedback than usual – on distressed investing, Trump’s economic policies, and more… Plus, some fishing photos.
Devastating as the recent stock market decline is – particularly after two straight years of 20%+ returns – a real downturn in the financial markets feels a whole lot worse, says our Director of High Yield Marty Fridson. The late 1970s/early 1980s was a bond market apocalypse, he says.
Porter reports that a $1.2 billion investment into a natural gas company is the start of the most important financial trend in the world. “We are just in the first inning,” he writes.
Porter outlines why this national homebuilder has become a superb business. He explains why it’s positioned to become a great, long-term compounder.
Over the last 50+ years, the entire global financial system has been organized around paper money. But, there’s a problem: fiat systems always fail. And the current system is now starting to break down, Porter writes.