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- Doom And Gloom From The Media Yet Again š±
Doom And Gloom From The Media Yet Again š±
Did you know that during the Great Depression, the U.S. unemployment rate reached as high as 25%?
Doom And Gloom From The Media Yet Again š±
Did you know that during the Great Depression, the U.S. unemployment rate reached as high as 25%?
Today, our situation is vastly different, showing how far we've come in understanding and managing economic challenges.
In this edition, we focus on three important developments in the current economic climate:
No Recession Any Time Soon: The latest employment report indicates a strong job market with 353k jobs added in January, signaling continued economic strength in the U.S. š„³
Fridayās Blockbuster Jobs Report, Nothing to Fear: Despite expert caution, the positive job growth report had no adverse effect on Wall Street, with major indices like the S&P500 and Nasdaq climbing š
IMF Chief Is Confident In Pragmatic Argentine President: Against the backdrop of criticism, the IMF's endorsement of President Javier Mileiās economic strategies highlights Argentina's promising market performance and policy effectiveness š
Given these good news, we believe it is safe to say that the world will not end anytime soon, despite the doom and gloom from the so-called experts. Ladies and gentlemen, please be seated, grab some popcorn, and enjoy the ride!
No Recession Any Time Soon š„³
The employment report for January was released on Friday, and job creation boomed:
353k jobs were created during the month.
Furthermore, prior numbers were revised.
There were actually 333k jobs created in December rather than 216k reported initially šŖ
The unemployment rate of 3.7% is not far off from historical lows.
Despite all the hoopla about recession risks, the US economy remains strong, with absolutely no hints of recession anytime soon š
Fridayās Blockbuster Jobs Report, Nothing to Fear š
Some of the great financial market gurus, such as former PIMCO head Mohammed El-Erian, warned that the Friday payroll report meant āgood news for main street but bad news for Wall Street.ā
It showed that 353k jobs were created in January.
But Wall Street ignored their dire warnings, and the S&P500 and Nasdaq continued to soar š
The so-called āexpertsā continue to misread the state of the US economy.
We donāt need a dramatic economic slowdown for inflation to continue to fall.
Three key points here:
1. Inflation expectations remain well anchored ā
2. Wages are moderating even with a low unemployment rate āļø
3. The US economy is benefiting from strong productivity gains šµ
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IMF Chief Is Confident In Pragmatic Argentine President š
Argentinaās stock market continues its ascent.
Even so, the left-wing media keeps warning us about President Javier Mileiās āradical capitalist tendenciesā š¢
Of note, the managing director of the IMFā
the worldās most important lender to distressed emerging market governments
ācalled President Milei āpragmaticā and endorsed his economic policies aimed at stabilizing the Argentine economy.
The left-wing media has gotten it wrong yet again ā
A betting investor is best suited to take the other side when it comes to the media.