The Prudent Retiree - What's Going On Part XXIX

Leon Russell released the song, “Stranger in a Strange Land”, in 1971. He sang about the unsettled situation in America and how the country was tearing apart. It was a time of protests and riots about the war in Vietnam and an ugly political battle between President Nixon and George McGovern. Law enforcement was being criticized for their response to the civil unrest. It seemed that our country was a strange land.

Russell, known as the Master of Time & Space, is a member of the Rock and Roll Hall of Fame. He performed for more than sixty years with his own band and others including Elton John and Joe Cocker. I last saw him at Blueberry Hill in the Duck Room about twenty years ago.  He is still part of my t-shirt collection.

Tis’ the season. When I watch the political conventions, wear a mask and follow the news, I do feel like a stranger in a strange land. Prudent Retiree has had many conversations with you recently and the election always comes up. I don’t know what there is to say. It sounds like half the country is bad. Which half depends on which channel you watch. One has to wonder if this is the best we can do.

Prudent Retiree does know what’s going on in the market world today—the market is continuing to move higher. The NASDAQ and S&P 500 have both moved to record levels. COVID-19 and its impact on the economy is seemingly priced into the market. Maintain your current equity allocations. Perhaps wearing a mask is no longer so strange. Leon Russell died in 2016. Most likely, he would still feel like a stranger in a strange world.

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