You would think that the Americans would be feeling pretty good right now. Wages are increasing almost monthly. Workers have their pick of jobs in this tight labor market and the coronavirus seems to be peaking. So why are so many consumers unhappy? Consumer sentiment numbers, as measured by the University of Michigan Consumer Sentiment Survey, fell in preliminary February 2022 numbers to its lowest level in more than a decade. Back then, in October 2011, the unemployment rate was more than double the present 4% rate. In a January 2022 Gallup Poll, 72% of those surveyed thought it was…
Insights & Advice
Tag: American Association of Individual Investors
I feel lousy
I feel lousy. That’s probably good news for the stock market. I am what the financial industry calls a “contrarian,” which is to say that when everyone is buying, I look to sell. And when everyone is selling, I try to find things to buy. That’s oversimplifying it, but you get the picture. But what does it mean when everyone is buying? Again, oversimplifying it, peak buying reflects optimism. Everyone who wants to buy has done so because they’re confident prices will rise. And when everyone is selling, people believe prices will drop further, so they feel as if…