Regarding the recent Podcast:

• US debt fears overblown
• US debt is high, but not unsustainably so (compared to global economies)

A more relevant concern may be focused on the appetite or ability of investors to buy the quantum of debt being issued by the US government.

• Foreign investment in US debt has declined
• China and other central banks have been buying gold
• US treasury auctions are historically large ($125 billion on auction this week)

As investors how do we position our investment portfolios for risks related to spiraling and unsustainable debt levels by our government:

• Resulting conditions will likely consist of high inflation, high interest rates, higher taxes, slower economic growth
• Real assets tend to perform better.  Gold, real estate, aviation assets.
  • Better to have some leverage
  • Tax efficient investments (such as real estate and aviation assets)

Current market trends

• Latest FED outlook
• Interest rate outlook