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Posts Tagged ‘lack of growth in the economy’

Marks and Klarman: There’s No Free Lunch

Posted by Larry Doyle on August 8th, 2013 9:01 AM |

What will future generations do with the massive tab that has been and continues to be run up under the guise of propping our economy?

That is not a rhetorical question.

Many individuals far wiser than I maintain that we will experience generational defaults as our children and children’s children determine that the bills being left to them are not worth paying or able to be paid. That day may not be all that far off. In fact, it has already come in selected municipalities in our nation with surely more to follow.

For more on this topic, I thank the regular reader who shared a fabulous read by Oaktree’s Chairman Howard Marks. Those with the time will appreciate the full memo. I welcome highlighting Marks’ concluding comments in which he shares the wisdom of The Baupost Group’s Seth Klarman as well: (more…)






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