Doom and gloom sells. It’s easy to tap into people’s deepest fears and cry “the sky is falling.” And sadly, we’ve seen a lot of that ever since the financial crisis and bear market of 2007-09 reminded everyone just how bad things could get.
Take, for example, Ron Paul’s recent call for a 50% crash in stocks. Talking to CNBC, the famous libertarian cited several concerns, including the Federal Reserve waiting too long to reverse the low-interest-rate environment – an “unmanageable” situation that he fears is setting the country up for a massive financial disaster. But if you look closely at the data, America is doing well. Robust economic data has been par for the course for years now – good news for Americans on Main Street and Wall Street alike. Better still, several areas of the economy, as well as corporate financial results, continue to improve.
It’s easy to be cynical about this long-in-the tooth market rally. “This bull market has been climbing a ‘wall of worry’ for eight-plus years and counting,” says Brett Owens, Chief Investment Strategist at Contrarian Outlook. “It’s the most hated extended bull move of all time.” But as long as there’s a tangible economic backbone to this run, there’s no reason stocks can’t keep surging.
Need a little encouragement? Here are seven signs that American economic growth is alive and well, giving stocks the fuel they need to keep rallying.
SEE ALSO: Kiplinger’s Economic Outlooks
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Date — November 8, 2017 5:00 am
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