THE END OF THE AGE OF ENTITLEMENT
JOE HOCKEY’S SPEECH TO THE INSTITUTE OF ECONOMIC AFFAIRS, LONDON
…Let me put it to you this way: The Age of Entitlement is over.
We should not take this as cause for despair. It is our market based economies which have forced this change on unwilling participants.
What we have seen is that the market is mandating policy changes that common sense and years of lectures from small government advocates have failed to achieve.
via The Age of Entitlement | Institute of Economic Affairs.
Hat tip to Houses and Holes
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.