Fri 31 Jul 2009
The Future of Your Money – There is Some Good News.
Posted by Dave Blough under Investing and Wealth Management
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Dave Blough
Gloom, doom and despair – it seems like that’s all we’ve heard about the economy since the middle of 2008. So what will we hear next?
The housing mess will probably stay with us for a while, but it looks like foreclosures are beginning to stabilize and home prices should bottom out in early 2010. The economy is still weak, but there is a sense now that the worst is behind us. And while unemployment is still high, there is hope that the job market will begin to turn around.
While consumer spending will continue to suffer along with the job market, there are some bright spots. Credit card balances are currently being paid down instead of expanded, and people are beginning to save again. Inventories of manufactured goods are being reduced so future sales should increase factory orders, leading to a leveling off of domestic product declines. The economy is expected to grow a respectable 2% in 2010, and the stock market, which typically looks 6 – 12 months ahead, sees this as setting the stage for stock advances in the months ahead.
As an investment officer, I’m optimistic. And I hope at least a little of what I’ve said will make you more so. For more information about investing for your future, go to https://www.ubat.com/investmentsolutions/investmentsolutions.aspx.
