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Jim Puplava: “This Is Not 2007-2008”
financialsense.com / FS STAFF / 09/30/2015
Thoughts from Jim Puplava’s recent Big Picture podcast, “It’s Complicated – Think Before You Jump,” which can be listened to in full on the Newshour podcast page here or on iTuneshere.
This fall, investors are understandably confused by events in the financial world. On the one hand, many expected the Federal Reserve to raise rates, given signs of strength in the U.S. But then the Fed held off on an expected quarter point increase due to economic weakness overseas. While a U.S. recession may not be imminent, many economies around the world are stagnating. People are also confused by falling commodity prices: is it a good thing for consumers, or is it a sign of deflation? With nearly all asset classes lower on the year, investors may be wondering if another 2008 crisis is just around the corner.
However, Jim cautions against extreme pessimism by pointing to several positive developments overlooked by some:
“We just got a revised estimate for 2nd quarter GDP. It was revised upwards, from 3.7 to 3.9 percent… The housing sector is strong, with homebuilder confidence the highest going back nearly a decade… The homebuilder stocks are doing well, automobiles are very strong…retail sales and consumer spending have been good, the service sector is almost at an all time high—the only weak point is manufacturing [but] it is still expanding while the employment picture continues to improve…”
The post Jim Puplava: “This Is Not 2007-2008” appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/03/jim-puplava-this-is-not-2007-2008/
