For years I have read and listened to economists. The first I remember was the man in San Miguel, MX., who told us three years ago that the U.S. wouldn’t come out of recession until 2020, to just a few days ago hearing the Donald Trump, a U.S. presidential candidate say, “The next president will inherit a nation in recession.”
Or, do I believe the man I heard speak a few days ago in Colville, WA., who told a hopeful audience, “American Funds believe the future looks bright,” and told us why.
Putting all the guru predictions together, the tally of positive is three-fourths for harder times ahead to one-fourth booming due to new innovations.
However, says Chris Cinorelli, the managing editor of Economy and Markets, “If you think the economy is okay, send them our way.”
Chris McCartney, financial adviser for American Funds, the man who spoke to investors here in Colville, said, “Our company invests in companies not the market.”
Nervous investors and underemployed college graduates watch our presidential candidates but hear little about the economy. No one wants to admit what ails us because doom-and-gloom doesn’t get votes.
A sum up of negatives show abysmal job reports, wholesale and retail sales that are dropping while inventories are rising, exports and imports, falling.
That is the tip of what’s happening today. Digging deeper, the picture can look bleak if you take in number of auto loans and student college debt behind in payment, job openings lost when companies announce job cuts. There’s rampant debt around the globe, big issues that are plaguing countries which are being postponed and pushed to the side rather than being addressed.
Dangers of changing demographics is a huge issue as countries suffer from aging populations and their birth rates are dropping. There won’t be enough workers to support us old folks.
It feels as if we’re back in the 30’s in the U.S. when few people, if any, had more than three children.
The big breath of fresh air this week will be the announcement of scientists who tell of a break through in the fight against Parkinson’s. Other medical news is soon for other chronic diseases. Hepatitis is among them and that news was just announced cheering the many who have been suffering from shots in their tummies, etc.
Dave Gonigan of Agora Financial tells readers, “the economic fairy tale of 2015 is falling apart.”
On the other hand, the good news from the guy from American Funds is that 65 million people in places like Russia, Brazil and Asia, are the new consumers of cell phones and air planes. For example, Boeing sales to the Philippines and Asia are high in the next five year. People around the world who are improving their lives need U.S. elevators, toilets, doors and windows.
“China buys 25 million vehicles a year from GM, Ford and others.
“In eight years,” according to his good news, “the pace of change will be more mind boggling than ever. Social technologies will have advanced at record speed. Innovations are happening every day.
“We’re okay. Countries having oil aren’t doing as good.”
Let’s watch. Take bets. Who will be right?