BUZ LIVINGSTON: Uneven recovery vexes nation

Published: Sunday, June 23, 2013 at 09:51 AM.

Spare me the baloney about regulations stifling growth. Money emasculated the much-maligned Dodd-Frank bill. From July 2010-April 2013, the top five consumer protection groups have had 116 lobbyist meetings with Congress while the top five commercial banks counter with over 900. Shelia Bair, a life-long Republican nominated by George W. Bush to head the Federal Deposit Insurance Corporation says, “At the end of the day regulators are outgunned.” 

The jury is quite clear; unregulated derivatives were the prime contributors to Bear Stearns/Lehman Brothers implosion and subsequent economic morass.

Clients are happy when their nest eggs grow; of such I can attest, but savvy investors think long-term.  When I graduated from high school in 1973, you went to college, went to work or were just plain sorry (correctly pronounced saw-ree). America faces an economic unwinding and the genie is out of the bottle. Extended wealth inequality has consequences, specifically crime. 

South Africans can buy an after-market flamethrower to deter carjacking while wealthy Mexicans are saying “Adios” to violence and settling in Houston’s The Woodlands. Works for me, my son-in-law builds homes in Houston.

I’m bullish on America, every month I along with many clients buy mutual funds invested primarily in American companies. Last century the Dow Jones Industrial Average advanced over 17,000 percent despite four costly wars, The Great Depression and numerous recessions but growing wealth inequality is a new wrinkle.

There have always been winners and losers but remember “E Pluribus Unum,” Latin for “Out of many, one,” is on America’s coins and currency. 

Buz Livingston, CFP, offers hourly financial planning and fee-only investment management to clients along Florida’s Emerald Coast.  Contact him at 850-267-1068, Buz@LivingstonFinancial.netor www.LivingstonFinancial.net.

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