{"id":4096,"date":"2012-04-17T20:14:53","date_gmt":"2012-04-18T00:14:53","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=4096"},"modified":"2012-04-17T20:14:53","modified_gmt":"2012-04-18T00:14:53","slug":"john-mauldin-hoisington-q1-review-and-outlook","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/","title":{"rendered":"John Mauldin: Hoisington Q1 Review and Outlook"},"content":{"rendered":"<p><strong>John Mauldin<\/strong>: Lacy Hunt kicks things off with a bang in Hoisington\u2019s Quarterly Review and Outlook, this week\u2019s Outside the Box:<\/p>\n<p>\u201cThe standard of living of the average American continues to fall.\u201d<\/p>\n<p>The reason, in a word: debt. Lacy explains what happens:<br \/>\n\u201cEfforts by fiscal and monetary authorities to sustain growth by further debt accumulation may produce some short-term benefit. Sadly, these interludes fade quickly as the debt becomes more destabilizing. The net result of increased indebtedness then becomes the opposite of what policymakers intend when they promote economic growth by either borrowing funds for increased government expenditures or encourage consumers to borrow with artificial and temporary incentives.\u201d<\/p>\n<p>In other words, you can\u2019t get to real, sustained growth of an economy by growing debt after a certain point &#8212; one that, sadly, we have already reached.<\/p>\n<p><a href=\"http:\/\/www.johnmauldin.com\/images\/uploads\/pdf\/mwo041612.pdf\">John Mauldin: Hoisington Q1 Review and Outlook<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>John Mauldin: Lacy Hunt kicks things off with a bang in Hoisington\u2019s Quarterly Review and Outlook, this week\u2019s Outside the Box: \u201cThe standard of living of the average American continues to fall.\u201d The reason, in a word: debt. Lacy explains what happens: \u201cEfforts by fiscal and monetary authorities to sustain growth by further debt accumulation &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;John Mauldin: Hoisington Q1 Review and Outlook&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,34],"tags":[962,1410,1699,1978,2058],"class_list":["post-4096","post","type-post","status-publish","format-standard","hentry","category-debt-levels","category-us-canada-countries-regions","tag-debt-crisis","tag-fiscal-deficit","tag-hoisington","tag-john-mauldin","tag-lacy-hunt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>John Mauldin: Hoisington Q1 Review and Outlook - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"John Mauldin: Hoisington Q1 Review and Outlook - the patient investor\" \/>\n<meta property=\"og:description\" content=\"John Mauldin: Lacy Hunt kicks things off with a bang in Hoisington\u2019s Quarterly Review and Outlook, this week\u2019s Outside the Box: \u201cThe standard of living of the average American continues to fall.\u201d The reason, in a word: debt. Lacy explains what happens: \u201cEfforts by fiscal and monetary authorities to sustain growth by further debt accumulation &hellip; Continue reading &quot;John Mauldin: Hoisington Q1 Review and Outlook&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-04-18T00:14:53+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"John Mauldin: Hoisington Q1 Review and Outlook\",\"datePublished\":\"2012-04-18T00:14:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/\"},\"wordCount\":153,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"debt crisis\",\"fiscal deficit\",\"Hoisington\",\"John Mauldin\",\"Lacy Hunt\"],\"articleSection\":[\"Debt Levels\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/\",\"name\":\"John Mauldin: Hoisington Q1 Review and Outlook - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2012-04-18T00:14:53+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/17\/john-mauldin-hoisington-q1-review-and-outlook\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"John Mauldin: Hoisington Q1 Review and Outlook\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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The rise has been facilitated (and encouraged) by a sharp fall in long-term interest rates, with 10-year Treasury yields falling from a peak of close to 16% in September 1981\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30600,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/01\/25\/dr-lacey-hunt-hoisington-asset-management-the-debt-trap\/","url_meta":{"origin":4096,"position":1},"title":"Dr Lacy Hunt, Hoisington Investment Management | The debt trap","author":"Colin Twiggs","date":"January 25, 2022","format":false,"excerpt":"From Dr Lacy Hunt at Hoisington Investment Management on the declining velocity of money: The Fed is able to increase money supply growth but the ongoing decline in velocity (V) means that the new liquidity is trapped in the financial markets rather than advancing the standard of living by moving\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"M2 Velocity","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-28-m2-velocity.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-28-m2-velocity.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-28-m2-velocity.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-28-m2-velocity.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":1903,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/15\/things-that-make-you-go-hmmm-outside-the-box-investment-newsletter-john-mauldin\/","url_meta":{"origin":4096,"position":2},"title":"Things That Make You Go Hmmm\u2026 &#8211; Outside the Box Investment Newsletter &#8211; John Mauldin","author":"ColinTwiggs","date":"November 15, 2011","format":false,"excerpt":"Italy is running a primary surplus. The only thing sending her over the edge is the simple fact that the Italian government cannot borrow at low-enough rates. At 4% (where rates were a year ago), they can gradually begin to adjust their debt ratios and still finance their borrowing -\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63098,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/11\/19\/japans-debt-is-a-global-problem\/","url_meta":{"origin":4096,"position":3},"title":"Japan&#8217;s debt is a global problem","author":"Colin Twiggs","date":"November 19, 2025","format":false,"excerpt":"Key Points Japan's GDP contracted 1.8% in the third quarter due to tariffs. A Japanese government advisory panel proposes a 25 trillion yen ($161 billion) supplementary budget to fund stimulus. The Yen weakened, and 30-year JGB yields climbed to 3.35%. German Bund yields are also rising, increasing pressure on long-term\u2026","rel":"","context":"In &quot;Fixed Income&quot;","block_context":{"text":"Fixed Income","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/fixed-income\/"},"img":{"alt_text":"US Net International Investment Position","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-17-us-niip.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-17-us-niip.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-17-us-niip.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":25446,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/04\/24\/a-case-for-inflation\/","url_meta":{"origin":4096,"position":4},"title":"A case for inflation","author":"Colin Twiggs","date":"April 24, 2021","format":false,"excerpt":"Dr Lacy Hunt from Hoisington Investment Management Company in Austin, Texas is one of the most highly respected market commentators but I find we have diametrically opposing views on the inflation outlook. Dr Hunt begins his current quarterly bulletin with the statement: \"Contrary to the conventional wisdom, disinflation is more\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4853,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/14\/australia-and-the-endgame\/","url_meta":{"origin":4096,"position":5},"title":"Australia and the Endgame","author":"Colin Twiggs","date":"July 14, 2012","format":false,"excerpt":"John Mauldin: We wrote about Australia in a full chapter of Endgame. Their economy never really suffered in the recent debt crisis, in large part due to their growing housing market and their trade with China. If you talk to the average Aussie, they think that all is right with\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4096"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4096\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}