If the post-game show game focuses mostly on the referees, it’s safe to say the guys in stripes blew it that night (so to speak). Referees are at their best when they keep pace with the players but stay out of their way. As fans, we value the clash of the titanic skill with something bordering on worship. But do you remember all that TSN coverage on the rookie draft for that brilliant young up-and-coming linesman? Nope.
Consider the inspiring Olympic motto: “Faster, higher, stronger,” as opposed to the Olympic existential threat: a Russian judge.
Post-game concussion. We spent roughly the same amount, (as a % of GDP) on World War 2 and the Covid-19 pandemic, but the overall different tone of the two approaches is demonstrated in these two these quotes, one by a warrior, the other… ______ (my mom said I shouldn’t say that):
Churchill – WW2: “I have nothing to offer but blood, toil, tears and sweat.”
Trudeau -- Covid: “No Canadian should have to worry about paying their rent or buying groceries during this difficult time.”
Never blur the relationship between effort and reward. It’s expensive.
Speaking of blurry lines, read on for our in-depth coverage of the latest US debt crisis.
Global Insight special report - Debt ceiling update
Recent headlines on debt ceiling negotiations indicate significant progress towards a deal, but with major unresolved issues. This year’s process was always likely to be fraught, and we would not be surprised if there were additional stumbles before legislation is passed. These events—while anxiety-inducing—are normal for the type of brinkmanship-driven negotiations currently underway in Washington. We break down the possible outcomes if the two sides fail to reach a compromise, including the mechanisms that could keep the U.S. government operating, and highlight the potential impacts on markets and the economy. As the political drama plays out, we believe focusing on the bigger macroeconomic picture is still the optimal use of time and investment resources for most investors.
See the full report here: special report
Enjoy your weekend!
Mark