August 11, 2010
Economic news of late has been fixated on the state of our recovery. Is unemployment growing? Are companies hiring? How about the housing market - better or worse? And as usual the signs are mixed, as they have been for the 30 years I've been following economic indicators.
Yesterday Fed Chairman Ben Bernanke allowed that the pace of economic recovery has slowed. Headlines about stubbornly high unemployment would seem to back up that assessment. And who am I to disagree? After all, I read the same headlines as everyone else.
And yet: I keep seeing small signs of recovery. Real signs, tangible markers that things are getting better, if only here and there, if only fitfully. The latest: the Walt Disney Company reported better-than-expected earnings yesterday. The reason: more people going to see movies like James and the Giant Peach. I expect we will continue to see signs like this, and I remain cautiously optimistic about the US economy.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).