Tuesday’s state elections made clear that the failed political policies that reduce national employment, eliminate our nation’s energy independence, and discourage investment, innovation, and business growth are now becoming increasingly more apparent to American voters. Our firm expects continued economic growth, the eventual passage of the already Senate-passed Infrastructure Bill, and a resounding defeat of the social spending reconciliation bill that is being pushed through the U.S. House today. We believe that the Infrastructure Bill will act as a catalyst to propel our selected equities and the economy as a whole – as we move into the midterm elections next year. We also believe that higher-than-normal equity market returns will continue to occur, propelled by higher interest rates – which will also continue to decimate the bond market.

As interest rates climb you will also see significant reductions in the current speculative pricing level that exists in our nation’s real estate markets. Please use caution there! In every interest rate cycle, when rates climb, the impact on real estate is very negative. We are still in a seller’s market – but it is ending very rapidly in our view.

*Full listing of all disclosures (bit.ly/3lGX3mM)

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