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Good morning.

Stocks are in negative territory so far this morning as investors continue to ponder the next moves by both the Fed and the markets … trying to assess just what it might mean for them, personally.

Sorry if that sentence seems ridiculous … but I heard reports last night of just how good the economy is … while this morning happened to come across an article, citing a Gallup Poll, claiming that half of Americans feel they are worse off than a year ago … which is the highest share in over a decade.  Still, around 60% believe they will be better off one year from now … providing some hope we have not entered a period of national despondency.

Along the lines of an improving outlook, Atlanta Fed GDPNow has been pretty steady with their view that the first quarter of 2023 will show economic growth above 2%.  What does this mean in layman’s terms?  Not a recession … at least as far as the first 3 months of the year is concerned.

Something interesting (and not positive) though, is a conclusion being drawn from a chart put out by Goldman Sachs which sees a shift in the global population projection.  It seems that the UN Global Population Projection of 2017 showed a global increase in population through the end of the century.  A recent, updated, projection now forecasts growth to continue over the next 50 years or so … and then start to decline.  It, to me, is a bit worrisome to such a drop … as even in the U.S. there is a CBO forecast that starting in 2043 the number of deaths will exceed the number of births.  If  the recent trend to start families later … and have fewer children … continues … well … a lot will be affected.

But, after all, who needs a companion?  Or at least … a human one?

I included an interesting article below in which a site called “Replika” will help you create an AI (“artificial intelligence”) companion.  This will allow you to “create a companion” with whom you can “share precious moments … in real time.”  Supposedly, 10 million people have already signed up to create an AI “soulmate.”  No complaints that you are late for dinner … no fighting over the TV remote … no negative comments about you leaving clothes on the floor … and … getting to my main point and concern of a previous paragraph … no kids!

Oh, my!  Has this AI thing already gone too far?

That about wraps it up for today.

I am home now waiting for an exterminator … as we have some large spiders that ended up in one of our downstairs rooms.

Don’t get me wrong … I’m not afraid … and don’t believe at all in arachnophobia.

I feel that we should just allow spiders to get married.

Have a great day,

Joseph G. Witthohn, CFA
Vice President
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915

A Look At The News February 8, 2023

As of 11:58 AM today


Mortgage rates dropped last week … again … though are slightly up this morning.  Still, at around 6.5% … borrowing costs to purchase a home remain hefty (CNBC)

Covid test kits were given away recently and so were vaccines … but the program will shortly end … leaving consumers to pay for anything they need (NPR)

Are you thinking of making the switch to an electric vehicle?  The bottom line is such a move seems to be economically viable for a majority of Americans (TheCoolDown)

A plane departed San Diego International Airport recently and had to quickly return as a computer battery caught fire. Could this have been prevented? (CBSNews)

NFTs have advanced into having physical items attached to them.  Soon we will probably hear the updated song which will, no doubt, be called, “Let’s Get Phygital.”

Looking for a companion that you can, literally, unplug?  Some chatbots are being created that will become your dating partner … and you won’t even have to pay for dinner (BusinessInsider) 

The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.