Old man Winter arrived this morning in Lake Tahoe. Freezing temperatures throughout the basin testify to his arrival. Snow is on the ground, on the slopes and on the peaks as resort owners gear up for the big holiday season that kicks off today.
All the resorts are up and running with high expectations as the economy chugs along and citizens are spending with gay abandon. Perhaps the joy ride will continue well into 2019 and beyond. There are warning signs that the ride might just be slowing as the stock market indicates that investors are worried somewhat. Despite unemployment figures that show almost zero unemployment and wage gains are up in most sectors, Fed governors are being cautious about raising interest rates too quickly that could push the economy into recession, albeit a slight one. Fed chairman Powell has been trying to speak in tones that do not amount to warnings, but has had a difficult time explaining the position of his office. It seems no matter what he says the investment community will interpret his musings as indicators. And when he does say something, Mr. Trump cannot leave well enough alone and will tweet some absurd observation or opinion.
No comments:
Post a Comment