Posts Tagged ‘consumer’

I was Right on the Markets, Wrong on the Economy

Today’s market and US economy seem to be suffering from multiple personality disorder:

The outgoing, optimistic Mr. Market is focusing on a slight but steady improvement in job growth and stronger spending, particularly by more affluent consumers.

His gloomy friend, Ms. Economy, says GDP growth remains weak, unemployment looks intractable, and the housing catastrophe will depress overall consumer spending for years to come.

Who’s right? Well, both, of course, and the outcome of their battle will determine how far the current bull market will go and how long it will last.

Count me among the optimistic for the next couple of years, at least, although I think we could see a correction in the weeks ahead, as I’ve written here.

But I’m still looking over my shoulder every time stocks make new highs, because the bears have some powerful arguments on their side – and they’ve often been right.

Here is additional coverage from the St. Peterburg Times:

“The legal action marks another chapter in a storm over the validity of documents foreclose on millions of American homes. Earlier this fall, Bank of America and other temporarily halted foreclosure proceedings because of evidence that many documents errors and fraudulent statements.

Since I’m a put-your-best-foot-forward kind of guy, I’ll begin with what I got right.

Howard Gold

“I am an independent-minded commentator and citizen. Like many of you, I have many criticisms of how decisions are made for us by entrenched politicians of both parties…


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