Dow $80,000? Why the Heck Not? The Real Economy Doesn’t Matter Any More, Until It Does
With Dow Futures down almost 500 points before the market even opened, mainstream media were accusing Donald Trump of wrecking the economy from a few Tweets complaining that China was playing games and refusing to take trade talks seriously. The Dow seems to have shrugged it all off for the time being, leading us once again to ask, is this economy even real?
Dow $80,000? You Never Know
The market is closed for the day and the Dow Jones Industrial Average has eliminated most of its pre-open damage, closing down just a measly 60 points. All the worrying about the China trade deal looks like it was all for nought.
This is just another indicator that there are no real fundamentals driving the current stock market. Good news. Bad news. None of it matters any more, it would appear. While all the other economic data continues to indicate we are already in a recession, aside from the manipulated unemployment figures and bubble-inflated stock markets, everything goes on as normal, for now.
The Real Economy is Telling a Different Story, as Usual
Truck sales down over 50% year over year show that the economy is slowing down tremendously, as these trucks are used to move goods across the country for consumers as well as business-to-business tasks. Ray Dalio, billionaire hedge fund founder, along with his billionaire buddies, are all predicting massive social unrest as the gap between the haves and the have-nots widens even more.
Retail closures continue to surpass the entire number of last year’s closure, and we are only 4 months into the new year. Throw in the fact that residential home building has sunk every month this year due to a lack of buyers, and it will not surprise you that Americans have stopped buying just about anything that they don’t need to eat or put in their gas tanks.
More Americans Working Past Retirement
The median 401k is only about $60,000, which is way less than you’d need to retire comfortably, if at all. Only 31% of Americans have access to a pension fund, and most Americans don’t have $500 saved for an emergency expense.
These are the real numbers behind the US economy. It’s becoming clear that people need to prepare now for the next official recession, since the unofficial one is already here.
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