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THIRD QUARTER 2016
RETROSPECTIVE AND PROSPECTIVE
And The Band Played On…
“When democratic governments create economic calamity, free markets get the blame.”-Jack Kemp
“Politicians and diapers must be changed often, and for the same reason.”- Mark Twain
Thus far, the calamities predicted by the pundits that would result from the Brexit vote to leave the European Union have not been as severe as anticipated. Perhaps this is due to the building geopolitical and economic stresses that have diverted the focus from Brexit to other issues. Furthermore, the impact of Brexit will likely take some time to discern as the trade, migration, political and other ramifications evolve over the coming months and years. Meanwhile, governments globally continue in their efforts to stimulate economic growth with what appears to be diminishing results.