The years keep on passing by
Many of you are getting older –
Fortunately, I drank from the fountain of youth
So I don’t age, but the winters do feel colder!
Our world continues to change
As new technology replaces old ways –
Can anyone make it a day without a cell phone?
Sometimes I miss the good ‘ol days!
The U.S. is in the midst
Of the longest economic expansion in history –
Yet the solution to funding America’s debt
Is somehow still a mystery!
I could fix that problem in a matter of minutes
If I were appointed King for a day –
Set a four year term limit for Congress
And require them to balance the budget for their pay.
But enough of the political pandering
Let’s talk about what’s good and right –
Consumer confidence and wages are up
To us, a recession is not currently in sight!
The 4th year of a presidential cycle
Has produced only one recession before –
However, the first year of a new presidential term
Has produced nine recessions, so we will monitor things even more.
The Fed has been erratic with interest rate policy
They don’t want things getting too hot –
Trying to find the proper balance can be tricky
We are currently in a very good spot!
It seems no further action will be taken on rates
For the foreseeable future at least –
With low rates, tax cuts, and low unemployment
It seems the wheels for trucking on are greased!
It was a banner year for equities
The S&P notched 35 record highs –
Gone are the doomsayers and fear mongers
Who predicted crashes and falling skies!
Pundits predict a strong 2020
With another good year for the S&P –
I would anticipate the markets having a few dips
As valuations aren’t what they used to be.
There is still a near record amount of cash
Sitting idle and not invested in stocks –
Which tells me that we aren’t in a bubble
Some would call this environment “goldilocks”.
For those who haven’t heard
My book was published last fall –
I truly hope you get a copy and read it
Share it with your friends, family, any and all!
Sincerest thanks, and best wishes for a healthy and prosperous 2020!