Remember, the only choice is optimism, the pessimists never get it right.
While the news last week was very tough to swallow, I firmly believe the quote above. Just like I said at the onset of Covid, eventually, the United States will get it right. Eventually enough Americans will come forward and right the ship.
It's difficult to focus on the economics of the day even though, while all three equity indexes lost ground last week, they remain high. Earnings reports were over the top with an increase of an even more important fact that margins (called profits) were also high and forecasted to continue through 2022 & 2023.
Applications for new businesses continue to run far ahead of what would be expected with the 2021 year-to-date number around 3.7 million.
When we were all experiencing the depth of the Covid crisis back in 2020, I mentioned that the new economy that would emerge may or may not look like the old one. This is what Americans do. While it may take a long time to recover from the debacle of Afghanistan, our institutions have survived the test of time.
As always, should you have any questions or wish to meet with or talk with me, please don't hesitate to email, or call. I'm going to take some time this week to count my blessings, stay in touch with my family and search for ways to help.
Jean & I do hope you have a super week!