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- 12:23am — May 28, 2022
a smarter Tucson is a better Tucson
Consumer spending is up and economic growth in Arizona and the rest of the U.S. is on the rise, but investor caution is one sign pointing to a potential recession in 2020, a global economist told Arizona business leaders.... Read more»
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1 comment on this story
Before I criticize a colleague, I must state certain conservative bona fides: I am a Graduate of Widener University; I was responsible for computer operations, in the last century, at Dunn Associates, a brokerage in Amherst, MA. We had one purpose: to assure that our Clients in the Doctoral Level of the Five College Area invested prudently. My Spouse & I attended the first Trump Rally @ the airport in Albuquerque, and in the hours before the above article appeared, we made a donation to the Make America Great Again Committee.
For those who didn’t know, like me, the “SRP” referenced above stands for Salt River Project, a Phoenix public utility.
I agree with Global economist Bernard Baumohl: “It is extremely difficult for a free market, open, highly liquid economy to fall into a recession in the first place. Actions that will lead to another (recession) are acts of human folly – where we actually shoot ourselves in the foot.”
The talking heads are calling the Democrat scheme to impeach President Trump “Deep State Sabotage”. We see USMCA as a “must pass” trade agreement, with the so-called “Trade War” as promises kept. The Administration has stated a favorable view of Brexit, and hinted at beneficial trade agreements to follow. America is the rising tide that lifts all boats.
I, and millions like me, hope the liberals try to beat the Recovery, and following Boom, into the ground. In the period from July through September, the international markets fell from record highs, through record single-day losses, and back to record highs, only to meander, slowly, down again. Consumer confidence rode a roller coaster of fairly sketchy bad news; one might say “fake” news, and I’m saying “manufactured” news, like this article I’m critiquing. Viva la DEEP STATE SABOTAGE ! When the market goes down, a BUYING OPPORTUNITY is created. Clever people are keeping-their-powder-dry, and waiting for the doom & gloom people to “artificially” depress the market. Personally, I look forward to buying in the New Year and I’m creating a list. EVERY TIME THE MARKET DIPS, CLEVER FOLKS ARE POISED TO SCOOP-UP BARGAINS. This, of course, drives the market back up; the process is called “percolation”, and typically precedes a “market move”, where new highs are set. NEW WEALTH IS CREATED, essentially out of nothing but consumer confidence and “Irrational Exuberance”. This is the main driving engine and attraction of Capitalism, and essentially the only way new wealth is created. The Federal Reserve, which is NOT a part of the government, must cooperate, by lowering the cost of money, by lowering the Prime Rate: the lowest rate of interest at which money may be borrowed commercially.