The weekly jobless numbers indicated an increase in unemployment, up from 9.0% to 9.1%. The market bulls are suggesting that the slowing economy is temporary. Their view is that weather, higher than normal gas prices and climbing food prices are pulling down the economy. (If gas prices and food are having such a negative impact on our economy, why then is food and energy always “X’ed” out of the equation when the government reports benchmark numbers like CPI and PPI???).
The question of whether the Fed will entertain a QE 3 was bantered about on the morning financial networks, while the author of a morning mortgage market alert suggests the more appropriate question should be whether a QE 3 will do any good. His suggestion is that consumers continue to lose faith in their political leaders (are they really? !!!) and the housing market continues to lose value. Until the housing market begins to stabilize and consumer’s confidence begins to increase again, businesses will not increase their hiring, unemployment thus, will remain high and the economy will probably have minimal if any, growth.
And the good news is that it is Friday! Sorry, not much more that can be said about good news when it comes to the markets and the economy. Listen long enough to the financial news and you will hear the trader that thinks we are still in a depression, not a recession or the one that says get back into the markets on the market pause or you will miss the next upswing!
I had the pleasure to be in the audience when author and motivational speaker Mark Victor Hansen made a presentation to a rather large group of people. Mark suggested that the television is full of bad news and it can really be a drag on people’s ability to be productive. He suggested that we turn off the television and only watch the absolute minimum when it comes to the news. He handed out a rather thick rubber band to everyone and suggested we put it on our wrist. Each time we get off track or begin to think negatively, we should pull back on the rubber band and let it go to snap out of it and get back to being productive! So, I do turn the financial news off during the day and only check the markets at strategic times, since what happens on wall street does effect part of my business. Suggest you do the same, but not until you get a good look at what is happening.
How long can one endure the intestinal fortitude it takes to watch these markets day in and day out? How much more will your investments decline before the economy stabilizes? Are you ready for change? Putting your money in a CD, Qualified Plan or the safe bet, in the credit union or local bank is an alternative, but not the answer. Privatized Banking offers you piece of mind with contractually guaranteed growth, no loss of principal and tremendous benefits regarding taxation, to name just a few. Illustrations are free and will demonstrate how your money will grow… and watch this 2 minute video…
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