“Retirement is like a long vacation in Las Vegas. The goal is to enjoy it to the fullest, but not so fully that you run out of money.”
– Jonathan Clements
“In retirement, only money and symptoms are consequential.”
– Mason Cooley
Read moreAs I mentioned in last week’s letter, I traveled to San Francisco last Monday with my friend Patrick Cox, who writes our Transformational Technology Alert newsletter. We had dinner with Dr. Mike West of Biotime and then spent the next morning at the Buck Institute for Research on Aging. Pat and I decided we would jointly report on what we learned. He has already written his part, which was published last week. I am going to reproduce portions of that letter, which highlight the conversation...
Read more“The first wealth is health.”
– Ralph Waldo Emerson
“Man needs difficulties. They are necessary for health.”
– Carl Jung
Decisions, decisions. Many Americans will have to make a big one in the next 60 days or so. How you decide will affect both your health and your wallet. Hospital management and doctors are seeing significant differences in the trends of patient care and are moving to adapt. Some of the changes they implement are going to create significant economic impacts on households and...
Read more“Growth is never by mere chance; it is the result of forces working together.”
– J.C. Penney
“Strength and growth come only through continuous effort and struggle.”
– Napoleon Hill
“We’re lost, but we’re making good time.”
– Yogi Berra, 1925-2015, RIP (For a most moving and memory-laden tribute to Yogi, see The Lefsetz Letter.)
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The Debt Supercycle theory traces the increasing transfer of private debt to government balance sheets, highlighting its implications, the unique constraints of government debt management, and potential future scenarios—including the limits of government borrowing, the role of bond vigilantes, and the risk of a major fiscal crisis if current trends continue.
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