Get Your Financial House in Order…NOW!

Subsequent to the US Presidential election in early November 2016, I have become “uber cautious”. My rationale for becoming this way is that:

  • Corporate debt levels are growing exponentially despite sputtering profit growth.
  • High-yield debt with “thin compensation” relative to increasing risk of default.
  • Political turmoil in various parts of the world appears to be escalating.
  • Subprime auto-loan default rates in the US now match those seen just before the 2007-2009 recession.
  • The number of retail outlets expected to close in 2017 will exceed that of 2008.
  • Almost half of certain emerging-market debt (the sovereign and quasi-sovereign variety) is below investment grade.
  • Canadians’ household debt (watch videos) at elevated levels.
  • Consumer debt levels in the US rivals those just prior to the Financial Crisis in 2008.
  • The quality of the leadership in Washington (not just at the Presidential level but his entire entourage). I suspect countless Americans who voted Trump into office held out hope that his “business prowess” would improve their lot. Had they read The Art of the Deal, a biography about Trump, they would have realized his “business prowess” is highly suspect. In my opinion, this man has few morals, is unethical, and is essentially a con artist. I recommend you listen to this 9 minute interview with The Art of the Deal ‘s “ghostwriter”.

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