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On the other hand, I think that the family, the traditional family, has a fundamental social role, because it's there that children are born and the investment in children is the greatest investment a country can make. The benefits of this investment go to everyone. ↗
Our concerns about what we saw in Australia: an economy clearly tied to China has hitched its wagon to the tail of the tiger. In terms of the general complacency, what we heard over and over from investors and clients and potential clients is, 'yes, yes, there are some excesses, but the government will figure out a way.' ↗
But I will say, I think there are some Democrats that don't want to address pension reform. I have taken on the issue of seniority and tenure. I think we have to address entitlements and the president has done that in his budget. I think we have to extend Medicare and the president has done that. But also reinvest in that program. ↗
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What I'm trying to say is that for the average investor, what I would encourage them to do is to understand that there's inflation and growth. It can go higher and lower and to have four different portfolios essentially that make up your entire portfolio that gets you balanced. ↗
