For the more than three decades we have been involved in the analysis of the economy, one nagging constant has been pessimistic prognostications over the U.S. debt. Now once again, debt is the news de jour. Consumer, business, and government debt are all at record highs, and, therefore, the theory goes, the economy is tempting fate.
There was a classic psychological study done in the early 1960’s at Stanford University that became known as ‘”The Marshmallow Test”. Young children were given the option of eating one marshmallow right now or getting two marshmallows if they waited 15-20 minutes.
Talk about destroying a narrative. On Friday, the Labor Department reported 312,000 new jobs in December, with an additional 58,000 from upward revisions to prior months. Recession talk got crushed.
Early in 2018 we said the US economy has gone from being a Plow Horse to Kevlar. Nothing that has been thrown at the economy since – neither trade conflicts nor tweets, not higher short-term interest rates nor the correction in stocks – is likely to pierce that armor.
1. What were your original goals for the stock? “Stocks will do one of three things: go up, go down or go nowhere. You need to know before you buy it what you’re going to do when these three things happen,” said Charles Scott, a Scottsdale, Ariz., financial advisor and owner of Pelleton Capital Management.
1. What were your original goals for the stock? “Stocks will do one of three things: go up, go down or go nowhere. You need to know before you buy it what you’re going to do when these three things happen,” said Charles Scott, a Scottsdale, Ariz., financial advisor and owner of Pelleton Capital Management.
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