There has been a whole lot of noise from the talking heads about a recession turning into a depression for the United States. The August jobs report reveals a labor market and economy that continue to recover in encouraging fashion. The economy added 1.4 million jobs in August while unemployment declined to 8.4%. Think what might have happened had more of the blue states like New York, California, Michigan, and New Jersey joined the party. (Eventually they’ll have to.) And the Atlanta Federal Reserve is now predicting third-quarter growth in the GDP of nearly 30% year-over-year. Not only that but, the attached article shows some guarded optimism with equities going forward. Yes, it could be a very bumpy ride but, what else is new. Regardless of the circumstances, the US and it’s citizens always seem to marshal on.

So, the big unknown is the election. There’s a ton of questions that come to mind but, the biggest one is “Who wins?” Will the Democrats run the table and win both the house and the senate along with the White House? Or, what happens if the Republicans sweep? Will the election be contested? And what might be the outlook going forward on November 4th, if we even know the winners by then. And, what about the rioting that’s going on? Will it stop anytime soon?

Somehow, equities have, over time, produced returns that outpace inflation by a wide margin. The attached article states, and I quote “By design, elections have winners and losers, but in the long run, the real winners have been investors who avoided the temptation to time the market and stayed in it for the long haul.”

Please note that, should you have any questions or just need to speak with me, don’t hesitate to call or email. I hope you all have a super week. I’m sure going to give it my best shot.

Doug Alden

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PS: This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.

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