“Everyone is entitled to his own opinion, but not to his own facts.”
This memorable quote belongs to the late U.S. Senator Daniel Patrick Moynihan, whose words now seem prophetic following a bitter presidential campaign where fake news and false information played a controversial role.
As mainstream news organizations, social networks and political operatives work to determine how to respond to the fake news phenomenon, we believe it’s just as important to tackle this issue from an investment perspective.
In the latest episode of the OppenheimerFunds World Financial Podcast, we explore some of the claims that were made about the United States’ fiscal policy on the campaign trail and separate fact from fiction. For example, did the national debt really double during the past two administrations? This is indeed a fact, but will taking on so much debt actually mortgage our grandchildren’s future?
There have been plenty of headlines out there on this subject, and many people are understandably wondering if the country’s debt load will become unsustainable after witnessing fairly recent debt crises in Greece and Ireland. We provide answers to the debt question, and explain the role of the U.S. Treasury market, the deepest and most liquid government securities market on Earth.
During our conversation, we also cover the big questions around taxes, unemployment and the Federal Reserve. Is the United States the most heavily taxed country in the world? Does the unemployment rate provide an accurate picture of the nation’s labor market? And how disruptive will it be to the capital markets when the Fed eventually scales back its enormous balance sheet?
Campaign trail spin games and the rise of fake news may have given some people a distorted view on each of these questions. Tune in to get the facts – minus the spin.
You can listen to this podcast by downloading it from iTunes. The OppenheimerFunds World Financial Podcast provides a unique perspective for investors on how to capitalize on long-term trends. We’d also like to hear from you. Send your questions, podcast topic ideas and feedback to Worldfinancial@oppenheimerfunds.com and would appreciate your reviews on iTunes.
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These views represent the opinions of OppenheimerFunds, Inc. and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the publication date, and are subject to change based on subsequent developments.