Don’t Stop Thinking about Tomorrow
I suspect you’ve seen the assessments predicting Washington gridlock in the aftermath of the U.S. election.  Don’t believe it.  While it’s true that a fractious capitol has turned bellicose, external reality is relentless.  Critical financial-policy decisions will be forced upon us – indeed many are overdue for decision.  Here are just five of the most critical questions sure to be answered one way or the other in 2021. First, there’s the financial reality redefined each day the pandemic destroys more lives and the economic infrastructure we once took for granted.  Trillions in central-bank support and bank stability of a sort have somehow become so accepted that many seem to think that the financial system is invulnerable.  It isn’t.

M110620.pdf