Dan Nestlerode

Has the economy recovered or not? There are some who believe the monetary policies of the last several years have had a negative impact on the recovery because we have never addressed the fiscal issues that led to the recession.

Stop looking for seers, gurus and saviors. Regardless of the offerings of CNBC and other purveyors of financial information, no one (including Warren Buffett, Bill Gates, Art Cashin, John Bogle or Jeremy Segal) can predict the future with certainty.

The consequences of a breach of trust often cause breakdowns that are far reaching and serious. As the Russian proverb famously appropriated by former President Reagan states, “Doveryai, no proveryai” which translates to “trust but verify.”

This country is facing at least two major challenges that will test the competence and abilities of our government, our political leaders and the leaders in the private sector.

In one example of gaming the system, 26 of 288 profitable Fortune 500 companies paid no federal income tax for the period 2008-2012 by working the tax code to their own advantage.

I am sitting at my kitchen table keyboarding this article into my Sony Vaio laptop computer listening to Pandora (internet radio) play a selection of Eagles songs (for free). I am connected to the internet by a Wi-Fi hotspot in my den that is in turn connected to Comcast’s high-speed internet.

As a result of the Federal Reserve policies, which have lowered interest rates to levels not seen since the 1930s, many investors – especially those investing for retirement income – have had to scramble to find historically reasonable yields or returns.

I have a family member who awfulizes about her health and believes every pain and strain requires trips to multiple doctors for diagnosis and aggressive treatment.

Within the overall direction of the economy and the investment markets, there are stunning winners and lots of disgruntled folks who lose money. The distinction between the two is not Lady Luck, as it would be at the casinos, but rather the competence of the investors …