Would you believe or be surprised to know the US had raised the debt ceiling aka Increased their Credit line some 90 times since the 20th Century? Probably not….
Most including ourselves believe this will get resolved… but there may be drama…. seems more the norm …
By Wikideas1 – Own work https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny, CC0, https://commons.wikimedia.org/w/index.php?curid=131990039
We know the history very well and will not bore you with the things that have happened in the last three or so decades…. just know headlines may be …. ahhhh… dramatic next week!
Speaking of dramatic …. but on a more fun note… Who let the pools out ? Next week!
Memorial Day Weekend Beckons
Next weekend marks the opening of pools, the very wonderful remembrance of those that allow us to safely ponder things like debt ceilings and a long weekend to boot…
Ahhh…that is all next week …. today is a Fun Friday, near the end of the school year for our clan… Enjoy and talk next week!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
May 2023 Audio Video Review – Buffet/Munger Words of Wisdom, Debt Ceiling, – Financial Planning and Capital Market Review – By John Kvale CFA, CFP
Hello and Welcome to our May 2023 Financial Planning and Capital Market Update!
If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!
We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets thoughts and current events!
Hope you enjoy!
May 2023 Video –
Financial Planning Tip(s)
Berkshire Hathaway – Buffett Munger Words to Live By
In this post Charlie Munger and Warren Buffet are discussed in great details… along with a secret to speeding the time to listen (1.75x speed)…..
Main thoughts to live by from Charlie and Warren:
Early on, write your desired obituary – and then behave accordingly.
irrational and get lousy results.
thing for a long time is a huge advantage.
Particularly added this as just last week, saw a review of the meeting that completely missed several of these points in my opinion.
Capital Market Comments –
Debt Ceiling Fizzle- All done until after next elections
With several comments from the field, we spoke multiple times, here and here about the Debt Ceiling, the history and the most likely outcome…
Much of our confidence on the matter comes from our contacts that we have developed over the years that try to give us a 100% straight scoop as much as possible…. They could always be wrong, but being numbers folks, we go with the odds…
They were right, once again!
Have a Great Day, Talk to You at the End of June !
John A. Kvale CFA, CFP
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Posted in Audio, Economy, Education, General Financial Planning, Interest Rates, Investing/Financial Planning, Market Comments, Monthly Review, Podcast, Video
Tagged Charlie Munger, Debt Ceiling, John Kvale, Monthly Review, Warren Buffet