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©Rob Johnson |
Wealth and health go hand in hand. It’s hard to enjoy one without the other. As it goes for the Republic, so it goes for the citizens. Something to remember when we celebrate our country’s 247th birthday this month.
Since its beginnings, America has provided fertile soil for great minds to grow great things. Today, we have the world’s largest economy, the strongest military, the global reserve currency, the deepest and most liquid capital markets, the most prestigious universities, global consumer brands, as well as world-beating corporations … Apple, Google, Microsoft, etc. But growing old ain’t easy, and there are no guarantees when it comes to health or wealth.
“The pen is mightier than the sword.” – Edward Bulwer-Lytton
What works, what doesn’t, and why? The Founding Fathers spent thirteen years considering these questions. After much debate and careful deliberation, these exceptional men created our Constitution—the document that has been the foundation for America’s success. Recognizing that all individuals are flawed, it was wisely decided that the American game would be played as a team—think baseball, as opposed to golf or tennis (invented in Scotland and France, respectively). Therefore, the Constitution established a federal government with three branches: legislative, executive, and judicial—the idea being that the outcome of the game should not ride on a single player. And over the years, America has excelled because of our ‘allegiance … to the Republic’, not to party or person.
What’s in a name? Miss Wilson, my high-school Latin teacher, would have pointed out the following: conservative comes from the Latin conservare, meaning ‘to preserve’. In politics, the classical definition of conservativism (here) simply means to keep what’s good and be careful when making changes. In a similar vein, liberal comes from the Latin liber, meaning ‘free’. The classical definition of liberalism (here) means having individual liberties and rights protected by the rule of law—also known as ‘…liberty and justice for all’. These two ideas are not mutually exclusive, and together make for a pretty good game. The rules are agreed and the batters can swing when they like.
“And if a house be divided against itself, that house cannot stand.” – Mark 3:25 (KJV)
People really like (a) being part of a group and (b) getting fired up with their group. Using money as a measure, satisfying these passions is big business (here). As with sports, the same goes for politics. We mere mortals are naturally wired to hitch our egos and identities to one team or another. Nowadays, political ‘fans’ (short for ‘fanatics’) wear their ‘Conservative’ or ‘Liberal’ team jerseys with a focus on two goals—beat the opponent … and make sure it hurts. But as we celebrate our nation’s independence on the Fourth, the flags, parades, and fireworks serve as reminders that we are all part of a bigger game—democracy vs. autocracy. So, when choosing a jersey, why not wear the one with ‘American’ on the front? Our winning streak just may depend on it.
Any opinions are those of James Aldendifer and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. Investing involves risk and you may incur a profit or loss regardless of the strategy selected.
