Remember, the only choice is optimism, the pessimists never get it right.
Jean & I went out for dinner last Friday night with some very close personal friends. We all concluded that the last nineteen months have certainly been a strain to live through. Of course, the big news is what's happening in Afghanistan.
Somehow, through it all the US economy keeps chugging along with equity markets, after comments from Jerome Powell, the Federal Reserve Board's chairman, all ending on a very positive day. As I've said many times equity prices are driven by two mains factors, interest rates and earnings. Earnings returns continue to beat expectations and, after the announcement from Chairman Powell Friday, the expectations for an interest rate increase are now extended to possibly the 1st quarter of 2023.
At the beginning of the pandemic, I did talk about what might emerge on the other side. While we might not be at the other side, one change is the way we all handle out finances. I thought the attached article about how Americans are reshaping their financial lives is an example.
One thing I learned from my parents growing up was the concept of hard work, whether it's with your back or your mind. My dad had a high school education and went on to become a general foreman of a major General Motors plant. And my mother had me on my bike going to a nearby farm to pull weeds at the tender age of 11.
Several years ago, I ran across the book "The Ultimate Gift". When I discovered the attached article "6 Wealth & Success Lessons from The Ultimate Gift" I decided to add it to this week's email. It's a feel-good story I wanted included to hopefully start the week off better than the last one ended.
Just for fun, the attached link, Quick Calculations, is included for those of us who started life with a rotary phone and party lines.
As always, should you have any questions or wish to meet with or talk with me, please don't hesitate to email, or call. Jean & I are going to take some time and pray for the families that lost love ones who died trying to protect Americans.