I get so mad sometimes that I have to walk away from my computer.
It happened again today when I saw a headline on Yahoo Finance that read:
Economists say a recession is coming: How can 401k investors prepare?
Sometimes you have to look below the surface of things to see what’s really going on. And perhaps the best case in point right now is your daily news feed.
There’s a lot of fear, uncertainty, and doubt (FUD) getting pumped out across the financial media, and it probably has some of you worried.
I’m here to tell you that, in fact, business is booming and the American consumer is stronger than ever. We just saw this in vivid fashion with record-setting Black Friday and Cyber Monday sales.
Instead of doom and gloom ahead, the indicators I’m tracking point to an outstanding 2020.
I don’t want you to miss out, so let me show you what I mean …
Based on the headlines, you might not know that the Dow Jones Industrial Average, the Nasdaq composite, and the S&P 500 all touched new record levels just last week. Stocks are headed for their best year since 2013.
Meanwhile, weekly jobless claims fell last week, and the unemployment rate is at historically low levels — 3.6%. The last time it was that low was in December 1969. Meanwhile, inflation has been below the Federal Reserve’s goal of 2%.
Wages increased 4.9% in October from the year prior, while the Commerce Department recently released its revised third-quarter GDP figures that show the economy grew at a 2.1% pace. That’s more than initially estimated, thanks in part to consumer spending.
Does that sound like an economy or a stock market in trouble? Quite the opposite.
Want more evidence? Here you