Is the economy bad or good? It's easy to spot the headlines online about recessions, housing prices falling, etc.
I was at a real estate club earlier this week and they distributed a copy of a Wall Street Journal online article titled "The U.S. Economy is Fine (Really)" by Brian Wesbury from January 29.
He opened the article with this sentence "It is hard to imagine any time in history when such rampant pessimism about the U.S. economy has existed with so little evidence of serious trouble."
He explains how retail sales fell .4% in December, real GPD grew at only a 1.55% annual rate and unemployment reached 5%. But then he describes the numbers as a "payback for previous strength."
The article is certainly worth reading to get another perspective on the economy's strength.
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