I am not an economist. I would like to state that first and foremost. I’m more of a pragmatist.
There is certainly no doubt, despite public statements to the contrary, that the US economy is not doing well. Some will tell you we are at risk of recession, while others will tell you that it’s a certainty, and rate cuts are merely delaying the inevitable.
The stock market has been on a rollercoaster course since before the end of last year. Just last week, markets around the world were resting on the verge of collapse. In celebration of Martin Luther King Jr. Day, US markets were closed on Monday. That evening, while having dinner, I overheard a day trader at the bar quip, "If the markets were open today, it probably would have been an all new Black Monday." And he was right.
Read More