Dennis Dachtler is a respected financial planner, managing more than $150 million in assets. As he reviewed the reports on the second quarter of the year, Dennis Dachtler made a few observations about the economic outlook for the country. Recently, Dennis Dachtler answered a few questions about the results of the past quarter.
Q: Are you concerned that the stock market was down in the second quarter?
Dennis Dachtler: Well, overall the Dow was up 5.4% when you look at the entire first half of the year.
Q: But economists are concerned, based on what happened last year at this time, aren’t they?
Dennis Dachtler: Yes, that is true. However, there were several factors present last year that aren’t present this year.
Q: What are those factors?
Dennis Dachtler: Among other things, there was a Congressional standoff last year regarding the debt ceiling.
Q: What are your thoughts about the upcoming election-do you expect that to have a negative impact?
Dennis Dachtler: It’s not completely clear, however I will point out that we aren’t operating under the same chaotic uncertainty as last year at this time.
Q: What about the instability of current policy?
Dennis Dachtler: Economists are worried about inflation. What the public needs is more clarity on policies to help boost confidence and, subsequently, spending, which has previously led to financial growth.
Q: How are things looking for the rest of the year?
Dennis Dachtler: Recovery has been incredibly slow since 2009 and this isn’t expected to change during the remainder of this year.
Q: What is causing the persistently high unemployment rate?
Dennis Dachtler: The theory of many economists is that the lack of predictability on policy is to blame.
Q: What is your perspective on this?
Dennis Dachtler: What creates uncertainty is not sticking to policy. Many economists believe consistency is key to building consumer confidence.
Q: How can Congress accomplish that?
Dennis Dachtler: Rules-based policy can help provide the basic guidelines consumers and business need to succeed.
Q: Some people feel that too many rules take away freedom.
Dennis Dachtler: Well I tend to believe quite the opposite. The laws should be built to preserve and encourage freedom. Laws must first be in place before there can be freedom.
Dennis Dachtler runs Dachtler Wealth Management, a financial management firm that focuses on helping clients find financial freedom. In addition to debt and asset management, Dennis Dachtler also helps clients with retirement planning and investing. Learn more at www.dachtlerwealth.com