1.

The U.S. government spent a RECORD $886,587,000,000 in the first two months of fiscal 2021 (begins Oct. 1st). During the same period, the U.S. government ran a deficit of $429,337,000,000 which represents the second highest deficit the government has run in the first two months of a fiscal year. Modern Monetary Theory is here folks. Let’s all sit back and observe…

2.

The most embarrassing thing for The Fed would be for the stock market to continue to make all-time highs, and for unemployment to stick around 20%. The U.S. stock market has risen $5.2 Trillion so far in 2020. During the same period, 5 million people have become unemployed. The disconnect between Wall Street and Main Street is simply astonishing…

3.

Every day brings a new record low on U.S. junk bond yields with the 4.34% average now below the two-decade average on investment grade notes. When central banks manipulate markets, the world turns upside down. Please remember; The Fed cannot purchase all bonds. We have fake markets, fake economy, fake money, fake ______(fill in the blank). There will be repercussions. Please reach out to senior clients and explain the risks.

4.

Every year I meet my high school buddy from San Diego and we go to a college football game. This year we went to see Missouri face Georgia in Columbia, MO. Because it’s 2020, the game was of course cancelled. It didn’t surprise me so we made it a BBQ/red meat kind of weekend. We had a blast nonetheless. It was our 20th year of meeting for a game. That said, college football without the fans and tradition is nothing but an empty box (or stadium as the case may be). There is nothing like experiencing each school’s traditions in person. It is pure 100% Americana. Do yourself a favor, next year take a drive to a college and enjoy the experience!

5.

NY index-type product with 1% credited (worse-case) has been a big winner. Seniors love earning a 1% yield, which is higher than most bank cd’s. But most of all, they have a stock market kicker that could potentially quadruple their returns. Seniors can place their nest egg in a contract, and each year move 10% to their checking accounts to pay bills. What a great concept! Call NestEgg for further info.