The market cannot strengthen without a robust financial sector.
Weak financial stocks are telegraphing the idea that conditions are not right for a major move for the stock market.
The dollar remains also an obstacle. Its multi-year decline suggests we are going through a major change. We are becoming a much different country.
We are facing an interesting period. More populist policies, less leverage, much poorer with our assets and purchasing power devastated by soaring inflation (oil and food), declining asset values (homes), and competition from aggressive, emerging, and large countries and educated young people.
How will we react? What will our pro-growth policies be? Or will we continue to focus on social issues?
A tough choice made by a population that it does not have a grasp yet of what is really happening. Will our leaders be willing to lead?
More, much more when you subscribe to The Peter Dag Portfolio on https://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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