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
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915