You can gauge the state of the economy on the price of Wal Mart's stock. Wal Mart is the working class hero's favorite store. I have numerous friends that are electricians, plumbers, carpenters and the like. Last year they were working 6 days a week. My friends are now working 3-4 days a week. The working class hero is struggling.
Yes, and unfortunately a heck of a lot of white collar heros are struggling, too. Wall Street Journal recently reported that the spread between white collar job seekers and help wanted ads is the highest in 30 years.
So true I am an electrician usually had 6-8 appointments per day, last two months 4 a day on average.
And will the white collar hero find a job that pays the same as the job he just lost? Salaries are in a deflationary spiral lower. Import prices fell 2.7%, their biggest drop in 14 years. Stocks continue to defy gravity. The laws of nature will prevail. I am sticking to my long-term objectives in the T-Bonds of 135-136 and a 400 handle in the S&P's.