The Prudent Retiree - August 2017
“We Will Bury You.”
All of us who grew up during the Cold War with the Soviet Union remember those words spoken by Soviet Premier Nikita Khrushchev when describing the fate of the United States and other Western nations. This was the same guy who pounded his shoe on a table during a United Nations meeting.
Remember when they taught us in school how to duck and cover? That was supposed to protect us from the “Bomb”. Remember bomb shelters?
History repeats itself. Kim Jong Un is certainly as wacky as Khrushchev. How much is bluster and how much is real? It’s impossible to know. Any rational person would conclude that Kim won’t really push the button. This is the guy who executed some of his own people with an anti-aircraft gun. He pulled the trigger himself. He had his brother poisoned by prostitutes in an airport terminal. Nothing seems to have changed except the number of television stations. We’re still going at it with the Russians and today’s Kim is as bad as his father and grandfather before him. President Trump has some difficult decisions to make.
Khrushchev tried to put nuclear weapons in Cuba. President Kennedy drew a line with U.S. warships and called his bluff. Khrushchev backed down, the nukes returned to Russia. President Trump may also have to make a stand.
Overall, the market has remained strong. Today as the North Korean Crisis plays out, the market is unsettled. It is important to note there has not been a correction for ten months. We are due. For now, we recommend staying invested in equities. We’ll monitor the situation closely and take action if warranted. A correction is not a crash.
I’m thrilled to have a new grandson. Jake and Lora are the proud parents of Tucker. What a blessing! He’s healthy and hungry. Enjoy the dog days of summer and remember what is most important.
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