Two weeks from now Americans will head to the polls to vote in what has been billed as “the most important election of our lifetime.” That may be a bit of hyperbole, but it will no doubt be one of the most important – maybe not as important as the previous one in 2016, but certainly a close second.
Since then, there have been some huge changes in the financial markets and the economy, nearly all of them wildly – and demonstrably – positive. CNBC was nice enough to quantify them the other day in this chart, and the numbers are startling.
I’ll just mention a few:
- S&P 500: Up 32% since the 2016 election.
- Average hourly earnings: Up 5%, to $27.24 from $25.88.
- Nonfarm payrolls: up 4.4 million, to 149.5 million from 145.1 million.
- Unemployment rate: 3.7%, down from 4.9%.
- Consumer confidence: up 37 points, to 138 from 101.
- Corporate tax rate: 21%, down from 35%.
- Assets held by the Federal Reserve: down 6%, to $4.22 trillion from $4.52 trillion.
Needless to say, there have been some negatives: Continue reading "Are We Better Off Today Than Two Years Ago?"
