This Independence Day, I’m feeling especially grateful—not just for the fireworks and family time, but for the remarkable country we call home.
Next year, America turns 250 years old. That’s a quarter of a millennium of progress, adversity, resilience, and reinvention. Ours is the greatest experiment in democracy and free enterprise the world has ever known. And while it’s far from perfect, it remains exceptional—because the American spirit continues to be defined by freedom, optimism, and human ingenuity.
Of course, this patriotic pride is often met with very real concern—especially in today’s environment. The headlines don’t exactly inspire confidence. The national debt has surpassed $34 trillion. Deficits remain persistent and rising. Credit rating agencies like Moody’s, Fitch, and S&P have all issued downgrades in recent years, citing a lack of political will to address our long-term fiscal trajectory.
Understandably, this has raised important questions. Clients ask: Is America losing its edge? Should we be worried about the dollar? What happens if the U.S. can’t get its debt under control? Could another country overtake us as the world’s economic leader? Is this time different? These concerns are natural—and they reflect a desire to protect what we’ve worked so hard to build. But here’s the truth: betting against America has never been a winning long-term strategy.
Even amid these challenges, the United States continues to lead the world in innovation, productivity, and business creation. Our capital markets remain the deepest and most liquid in the world. Our companies—many of which are household names—continue to generate the most consistent earnings, attract global capital, and push the boundaries of what’s possible.
At the core of our exceptionalism is a system of free-market capitalism that rewards innovation, risk-taking, and hard work. As long as we preserve and protect that system, there’s every reason to believe our best days are still ahead. Capitalism, though often noisy and imperfect in the short term, has a remarkable way of self-correcting and reallocating resources toward their highest and best use.
In times of uncertainty, investors around the world still seek refuge in the U.S. dollar and Treasury markets—not because we are free of flaws, but because we are free, full stop. Our legal institutions, rule of law, and dynamic economy continue to command global trust and admiration.
Yes, we must remain vigilant in addressing our fiscal imbalances. But we must also remember that strength isn’t the absence of challenge—it’s the ability to endure and improve in spite of it. And that’s exactly what America has done for nearly 250 years.
So today, as we celebrate Independence Day, I want to remind you of a simple truth: for all our imperfections, this country remains the single best place in the world to build a life, a business, and a legacy. At Mercer Partners, we remain long-term believers in the American story— and in your ability to thrive within it.
Wishing you and your family a safe, joyful, and meaningful Fourth of July.
Best,
Nick
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Mariner Independent Advisor Network, LLC, A Registered Investment Advisor. Mariner Independent Advisor Network, LLC and Mercer Partners Wealth Management are separate entities from LPL Financial.
