I’ve been thinking and thinking and am not so sure of what to make of the crazy times we are living in. I thought maybe we can think together some more.
Economic growth or decline is the result of factors that are much greater than anyone's administration or any one set of policies. Of course, specific policies such as tax changes or regulatory initiatives can influence the economy depending on how they are designed, but they will not change the macro-momentum. The recession that began in February 2020 most likely ended in July 2020.To no one’s surprise (let's all roll our eyes together) there has not been an official declaration, to that effect, from the National Bureau of Economic Research.
Based on third quarter GDP estimates of 33.1% growth, it is almost certain that the recession is over. Annualized growth in the first quarter of 2020 was negative 5.0%. The second quarter produced a negative 31.4%. The third quarter produced a growth of positive 33.1%. We...
I am not going to annoy you with New Year’s resolutions or a list of to dos. But I will give you my 2 cents.
It is a New Year, a new wallet, a new you or me for that matter. Life is too short and I think this is my bucket list in 2021. I will:
Are the crypto currencies going mainstream? Are we there yet? How long before we get there?
Yes! It has been a while since the questions started and they have not been answered yet.
Here are my 2 cents.
The volatile Bitcoin has moved aggressively since November. It flexed down for a short period of time then later eclipsed its highest price in history. Is this a big deal? Is it a fluke? Or is it the breakthrough that firmly establishes the digital currencies as something here to stay?
I know what you are thinking... lots of unanswered questions.
Early concerns around the legitimacy of exchanges, new and unproven technology, lack of security and centralized oversight/controls, started to dissipate driven by people's strong desire for anything that can bring them instant wealth.
More money in people's pockets equals more willingness to take calculated risks in new arenas to satisfy the need for instant gratification. Large investors are not immune from...
In my humble opinion predicting the future is not an easy task and I discovered at an early age that crystal balls seldom work.
A year ago, I would not have thought that I would be wearing a face mask to go to the grocery store, spending a socially distant holiday season and celebrating New Year's Eve through Zoom or Facetime. Predicting the future, no matter how much data out there, is difficult .
The global approval and subsequent roll out of COVID 19 vaccines is the beginning of controlling the pandemic. The sun is peeking out from behind the clouds, there is light at the end of the tunnel and economic recovery lies ahead.
The unparalleled GDP contraction globally has been one of the worst for most economies in human history. The IMF is projecting that the national output for developed and emerging economies will contract, with the possible exception of China, which showed early signs of improvement and modest growth.
The speed of the recovery is a difficult question to...