Amid the deluge of economic news about debt in the private and public sectors over the past 5 years, the bombarding of information on the same problem (so far, with a solution still deferred to a later date) makes us see too many economic news in that light. But in the end, what matters to a long term investor is finding a great company with a bright future that trades at a discounted price. Buy low, sell high.
We can bet on what governments will do to resolve the debt issue. There are two paths: cut public spending, go into “austerity” and reimburse, or print money while reducing public spend (the latter being inevitable to prevent future deficits from turning excessive again). We don’t know which path will prevail, although one has a stronger likelihood than the other.
Regardless of the macroeconomic outcome, those who discover a great business before it becomes great will be rewarded. That’s all that matters to an investor betting for the long term (several years out).