U.S. workers continue to enjoy a vibrant job market, and as President Trump reminded his audience recently,
Your 401(k)s are going through the roof. The stock market keeps hitting record highs! Everybody’s like a genius now if they buy stocks! They go up! But it can all be taken away if you have the wrong people in office.
There is one category of professional services, however, which is not as rosy. It remains mired in a multi-year slump, James Freeman writes in the WSJ:
It’s a Tad Embarrassing
It’s one thing to express pessimism about America in a column (Paul Krugman, Larry Summers). How would you like to have scheduled an entire event dedicated to discussing a pending economic disaster and then have to read today’s blowout GDP report?
Brooking Institution #RecessionReady
The esteemed Brookings Institution recently announced a May event, “Preparing for the next recession: Policies to reduce the impact on the U.S. economy.” This came complete with a roster of credentialed declinists and an official Twitter hashtag: #RecessionReady.
All that’s missing is a sign of recession.
JPMorgan Chase & Co. Chief Executive Jamie Dimon on the optimism among corporate execs:
People are going back to the workforce. Companies have plenty of capital…. business confidence and consumer confidence are both rather high…it could go on for years. There’s no law that says it has to stop.
“The Brookings gang,” suggests Mr. Freeman, “should take those words to heart and realize that while times may be tough in the industry dedicated to forecasting doom, most of the country is doing much better.”
Read more here.