Is There A Recession Or Isn’t There A Recession? Who Is Telling The Truth Here?!
This past week, we had the benefit and the fortunate opportunity of both hearing from The White House economic adviser and also the CEO of Bank of America, which is the world’s largest wealth management corporation. For those of our readers that follow our site, you are fully aware of the signs that we have shown you to see as potential premonitions of a cause into effect of a recession factor. While we won’t go into those signs here in this article, we will tell you some stand out things regarding both the words of the CEO and the words of The White House. Before that, let us give you some insight into the system and into the thinking. One of the key things is in understanding that this world, including our nation, operates in a sense of systems. Understanding that, one must know that both the White House and a CEO of one of the top four banks, both have obligation, responsibility and accountability in doing a good job. Why? First and foremost and very simply put, because there job depends on it. The moment anything negative takes place under each and on any one of their watches, they are first looked at and there job security may be at risk. One of the key things that The White House has been mentioning throughout the year is on the growth of the economy. Without growth, the economy will either stand still (and stagnate) or it will go into the opposite direction into a recession (and recede). Although a recession is not fun for anyone, it is more difficult for someone of a CEO level or White House level caliber to find job placement. Someone who may work for minimum wage can find job placement more easier at a minimum wage level than can someone who may work in a job that pays them at a salary in the top 1% of the nation. So one can see why there may be the need not only for the sake of the economy but also for the sake of these own individual’s job security. Furthermore, even as we have knowledge of their own personal system, we also must understand what needs to take place in our own economy’s economic system for them to be doing well. The fact is that if the US economy is not spending at a certain level and rate, it can cause a slow down and even worse, a recession. The worse thing for the leaders of both our nation and our banks would be that people stop spending money. Even if this is or may be the best thing for you to do financially, it is not the best thing for them. As we have posted, the recent video of the CEO of Bank of America, there are just a couple of points that he makes that may seem contradictory. For one, at around the 1m 47secs the CEO mentions that they are seeing growth. However, if one pays careful attention, you see that the growth that he is speaking of from 2017-2018 is 8.5 %, and the growth that he mentions as happening this year is 5.9%. The fact that he is trying to hammer home is growing, but the fact is truthfully that we are not growing at the same rate as last year. One could in fact say that the growth is slowing or in fact receding. Additionally, at the 7m:00s (7 minute) mark, one can here the bank leader say that everything that the Federal Reserve Bank sees is exactly what they are seeing, too, in terms of the economy. However, just a few moments later, not even a minute later, the CEO states at 7m:40s (7 minute 40 secs) the contradictory statement of “I don’t see what the Federal Reserve Chief sees”. The key thing to note is that our goal here at Smart Wealth Investments is not to tell you at all what to do. We will tell you only what we are doing, but our goal is for you to simply have the necessary education. We are an education based business.
Also, during the past week on Fox News on Sunday, we had the opportunity to hear from White House Chief Economic Adviser, Larry Kudlow, on the threat of recession with him stating simply the following sentiments, “There is no recession in sight”. Kudlow highlights the facts that consumers are working, and that wages are rising. He also mentions that people are spending and that people are saving. However, similarly to what we saw with the CEO of Bank of America, one has to ask, “at what rate”? These indicators may exist, but how do they compare to last year? Furthermore, what are YOU seeing around you in terms of people having struggles or regarding people seeing growth. You are the barometer and the number one truth seeking factor that matters. One of the key things that we would like to highlight about Mr. Kudlow is that he was also quoted saying in the previous last recession that there were no signs of a recession coming, and how deeply was he wrong about that? Very wrong. This is why we have put the onus not on us, nor on our leaders, or bankers, but on you, the reader, the subscriber, whom owes it to everyone around you, but first yourself to seek a basic level of intelligence on the fundamentals of economic and money matters. Our commitment relies in giving you the information to know why you are making the decisions that you are making, and that comes from education. We offer a number of resources and kits for free, or at a reasonable price for you to get the reins on your education and knowledge. There is no better time to get started than today, and no better person to be educated than yourself. Remember, to trust the signs and indicators, not even us, not even your bankers or politicians, whom all are deemed experts. Common sense is not that common and let your knowledge base be the common denominator in guiding you towards excellence. Smart Wealth Investing is not complicated and very basic in principle. Take just the few moments in your time to become more sophisticated daily in your understanding and watch the income that you work for in your life work for you more gradually each day. Think from tomorrow by the actions that you are taking in today.