Opening Statement from the October 2018 Intelligent Investor
Originally published on October 4, 2018 (pre-market release)
As it stands today, the U.S. economy is serving as the main driving force for the entire globe...
But it is important to keep in mind that much of the recent strength in the U.S. economy has been due to the fiscal stimulus centered on debt-financed tax cuts for corporations and wealthy as opposed benefits which would have a lasting impact on growth such as the repair and modernization of America’s aging infrastructure.
We believe China’s economy has already sustained sizable damage as a result of tariffs from Washington. As a reminder, China’s economy was already vulnerable to external disruptions as a result of its ongoing mission to transition from a...
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