The Lowry Letter®

Week of 6/1/2023

We hope that you enjoyed Memorial Day weekend. We enjoy the annual National Memorial Day concert, which can be viewed here. We are forever grateful for the sacrifices of many in the service of our country.

An observant client shared this study of how student loan forbearance affected the finances of borrowers. Shockingly, or not, the elimination of loan payment requirements often led to the acquisition of MORE debt.

We sometimes hear concerns about the depletion of economically important minerals. This paper argues that depletion is unlikely, and a less important factor than other concerns like conflict and the environment.

We’re fans of CrossFit and were impressed by this report of a coach who ran a mile in less than 5 minutes AND squatted 500 pounds on the same day. This feat is not on our to-do list.

Lab-grown meat is not yet viable from a cost standpoint. Unless current methods of production change, it may also be worse for the environment.

Q: The debt ceiling issue may be resolved soon. Do you feel good about it?

A: Yes and no. Yes, because the money was already spent, and we (the US) have a financial responsibility to pay those obligations. No, because nothing has really changed.

Economist Tyler Cowen explains: “Ho hum. Political bargaining, so what else is new? Kicking fiscal problems down the road, so what else is new?”

Congress has the power of the purse, and with it comes the responsibility to pass a budget. The time to address spending is during the budgeting process, not when the bills are due.

We understand how some see the debt ceiling debate as an opportunity to extract concessions from opponents, but it is bad governance and undermines institutional trust.

No deal has been struck yet, so risks remain, but the indications are positive for putting this issue to bed.

Advisory Services offered through Lowry Financial Advisors, Inc., a Registered Investment Adviser. Securities and additional advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Advisory services offered through Lowry Financial Advisors, Inc, are separate and unrelated to Commonwealth. Lowry Financial Advisors, Inc. is located at 12921 SW 1st Rd, Suite 215, Tioga, FL 32669. 352-333-7990

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