The Two Americas
Today we live in a world with two Americas.
On one hand we have the world of innovators and entrepreneurs. They create the ideas and products that are boosting corporate profits to all-time highs and improving productivity. This America is a race horse.
On the other hand we have the world of government, where transfer payments are at record levels, regulation is increasing, and the benefits of new technology are being held back. This America is a dead horse.
Taken together, they create the plow horse economy.
The good news is, you invest in the race horse, not the dead horse, and the race horse still has room to run.
by Brian S. Wesbury, Chief Economist, First Trust
Note: We are happy to provide this perspective from First Trust for a couple of reasons – it makes sense to us and it usually takes a much different point of view from the main stream media reporting. It’s important that you know there are other takes on what’s happening in our economy and around the world. We hope you enjoy it. Charles Scott, Pelleton Capital Management.