Mixed Messages On The Economy
"It's really hard to make predictions; especially about the future."
Many baseball fans will recognize this quip from Yogi Berra, the legendary catcher and manager of the New York Yankees. While known as a humorist, many of the things he said were funny because they were true. Wednesday morning we had August reports on employment and factory activity.
It was a good-news/bad-news situation. Employment indications were weak, while factory activity indications were strong. It is unlikely we get a clear picture of the economy until the unemployment, eviction and forbearance policies are eliminated.
What does it mean?
Best case: everyone quickly returns to work and bills start getting paid. Worst case: labor market severely damaged and it takes years to recover. Gentlemen, place your bets.
Robert Lloyd, CFA®
Chief Investment Officer
Lloyds Intrepid Wealth Management
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