Uncle Sam to Hand Us a 13% Winner?

There are many places where I need to hold my nose before I invest. Nothing says ESG like... PATRIOT Missiles... right John Kerry and Janet Yellen?

Dear Fellow Expat:

You’ve got to hand it to the Keynesian economists.

Every chance they get, they’ll spend money we don’t have and praise themselves for doing it. Last week, it was these White House economists writing a paper to celebrate record government spending.

This week, it’s Treasury Secretary Janet Yellen. 

In a recent “trip” to China, Yellen reportedly dined on jian shou qing ­psychedelic mushrooms, a Yunnanese delicacy. She allegedly had four helpings.

Not long after, she argued the best course of action for the global economy is for the United States and other nations to keep sending money to Ukraine. Of course, she said that it would be great to end the war - but the war is good for the economy. It’s a never-ending commitment to the “broken window” fallacy of her economic ideology. Break things, replace things, then brag about economic growth (despite the glaring inefficiencies of resource use). 

Today, we must look at the obvious outcome. This war will extend into 2024. It wil…