Some economic data points tell us how things are today, while others suggest how things will be in the future. Consumer Confidence is the latter – it hints at the future. The latest report is the best in seventeen years. Because two-thirds of GDP is consumer spending, the latest Consumer Confidence report suggests consumer spending will continue to increase, pushing the economy even stronger.
Also, 40.3% of workers believe that business conditions are strong, which is the highest since 2008 — Happy Days Are Here Again . . . ?
Wall Street pundits often say the stock market leads the economy by 6-9 months. With the good economic data and record highs in the stock market, we should just enjoy this long day of sunshine.
Unfortunately, the rising economic euphoria increases angst in some investors. After all, things this good cannot continue forever. Of course, that is true. I believe a serious recession, or even a possible depression, from our national debt is inevitable. I also believe it will not happen TODAY, so just enjoy it . . . but keep saving a little for that collapse later!