Wall Street is having a typical bear market. Stocks are down about 20%. There is an ongoing effort to re-test the lows.
But all the data is pointing to growth. Inflation is declining. Companies are hiring. While a recession is still possible, it’s probably priced into most stocks.
The biggest problem is that we’re an outlier. China is falling. Europe has fallen. Developing markets have ceased developing. If anything, the dollar is too strong. It means we’re importing deflation, but we’re exporting inflation. The U.S. is the world’s unquestioned economic leader, and even if things were a bit worse, they’d be pretty good.
So why are people like Robert Kiyasaki and Michael Burry predicting doom? Two reasons.
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