Warren Buffett Calls U.S. Economy Strong
Take a look at various economic indicators and the U.S. economy shows lots of vitality heading into the summer. Tariffs or no tariffs with our various friends around the world.
Consider unemployment is running at historic lows; the ongoing headline-making Dow Jones Industrial Average and associated bull market, which celebrated its ninth birthday March 9, is the longest bull run since World War II and producing one of the greatest percentage gains in modern financial times (only two bull runs prior to World War II made more money for investors).
Meanwhile, the U.S. economy has been riding the one of the longest economic expansions in history. In fact, this month marks the ninth consecutive year of economic growth, dating back to the official start of the current cycle in June 2009. If this one makes it to 10 years old next summer, it'll be the longest in U.S. history - surpassing the 10-year period of growth between 1991-2001.
So the biggest question for most experts is when we’ll see the next economic contraction or recession. For the past couple years, the smartest minds have said we’re in the “late innings.” If that’s the case, this is one loooong economic baseball game.
Don’t get me wrong. I’m certainly enjoying this extra-inning affair, having been a former sports reporter for USA Today and Orlando Sentinel. However, being Chinese-American, I tend to show my conservative roots at times.
But then I hear the business wizard I greatly admire, Warren Buffett, and I can't help but feel bullish. During an interview with CNBC anchor Becky Quick this morning, the Berkshire Hathaway chairman said the economy is feeling strong and “if we’re in the sixth inning, we have our sluggers coming to bat right now.”
With the gusts of U.S. economic headwinds behind our backs, can't wait to see how far these balls will fly out of our great American Parks.