Is The Sky Falling? Featured

By Ted Craig June 04, 2019 733

Many would have us believe so. But many indicators are still pointing up. While the latest manufacturing index from ISM rose at its slowest pace in more than 2 years, it still rose. And the new orders and employment indices were especially strong. Consumer sentiment rose in May, although at a lower level than the earlier May reading. Still, both the consumer sentiment and consumer confidence measures moved up in May, a good sign. When asked by CNBC about the chances of a recession, Kevin Hassett, the outgoing CEA chair, said he sees a low probability. Hassett is often overly optimistic, but both the St. Louis Fed chart he pointed to and other measuressee little near-term chance of a recession. Did I mention new-car sales beat expectations? 
However, some dark clouds are gathering on the horizon and some day soon the sky might be falling. But if it does, remember the old Korean proverb “Even if the sky falls, there is a hole to escape.”

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Last modified on Tuesday, 11 June 2019 16:16

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