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Labor Market Continues to Roar. In spite of all the fear-mongering about a recession, Friday’s employment report clearly showed we are not in an economic downturn. The best news in the report was that the unemployment rate fell to 3.5%, the lowest most Americans have seen in their lifetimes.
Rorschach Economics. These tests come to mind because lately, three dominant types of economic thought seem to analyze every data point and come to conclusions that always support their particular interpretation of the US economy.
Fake Economics. One of the greatest myths in all of economics is the “Government Spending Multiplier” sometimes called the “Fiscal Multiplier.”
No Looming Recession. We’re sure the economy will eventually face another recession… although our best bet is that the next recession will be mild compared to the last. When it happens, the pessimists will tell you how they got it right all along.
The Economic Engine That Could. Tony Dwyer, an equity strategist at Canaccord Genuity,… based on the strong manufacturing report this week…projected the index to rise to 3,360 in 2019, highlighting his view that a recession isn’t lurking “anywhere close”.
Job Market. The US labor market is going from strength to strength. Like with corporate earnings, June jobs data beat consensus estimates – up 213,000 – pushing the average monthly gain for the past year to 198,000 per month.