For the past week, I have been traveling and beginning work on a new project. During this time, a lot has happened on the economic front. While I believe a stock market correction is in the cards, the bulls are definitely beginning a run and the economy continues to improve. While operating profits are down, apparently investors are relieved that the worst did not happen and the prospects for future operating profits are improving.
Surveys indicate that consumers are increasingly confident in the future but still somewhat pessimistic on current conditions. Yes, personal income and disposable income continues to fall but as confidence improves, consumption will begin to grow.
At the worst, the economy has stopped sliding. For those who see things more positively, the economy is now improving. Either way, we have crossed a threshold and the future is definitely looking a bit brighter these days.