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My last Market Observation for the year 2019 as well as for the decade...
Here we are Thanksgiving is now in the rearview mirror and we are moving at lightning speed towards the end of the year. 2019 is virtually in the books and 2020 is fast approaching us! This is my last Market Observations not only for 2019 but for the decade!
Now with that said, let’s recap where we are, Black Friday sale were at an all-time high, to the tune of $7.9 Billion, which is a clear sign that consumers are confident. Most people do not realize the that is about 70% of the economy. Small Business Saturday brought in $3.6 Billion that is truly incredible and clearly consumer confidence is strong. This of course is in addition to the $4.2 Billion that was spent on Thanksgiving Day.
Despite record low unemployment and incredibly low interest rates, home sales remained lackluster.
What are the reasons most people are wondering? The answer is a combination of fearmongering by the News Media that started in the beginning of the year. Then the talking heads were spreading misinformation about an impending recession. (Just like a few on this platform) This in turn put a pause on home sales in the beginning of the year. Hence inventory of ‘for ... more
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