QQC - 'Things Are Seldom What They Seem' - Weekly Blog # 718

• Today, very few investments generate income sufficient to meet reasonable future expenses after inflation and taxes. The inability to meet current and future expenses from dividend and interest payments is a sign of a highly priced market.
• This is the season where politicians and corporate managements tell us how good things are and will be with their fourth-quarter and annual earnings announcements. Actions by consumers and investors are saying something different, with consumer spending in December slightly below November.
• Be prepared for a difficult market that will reset values, possibly for a few years. At the same time, maintain long-term positions for future generations.

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