| I recently received an email from a reader asking why I hadn't made a specific type of stock recommendation in a while. "Is it because of our failing economy?" he asked. "And does this mean that until we have a new president, it's in the tank?" Respectfully, the only way you could think that the economy is failing would be if you're consuming too much news from biased sources. Sure, prices are too high. Things have gotten ridiculously expensive. But wages are making up for it - in fact, they've outpaced inflation for a year and a half. Unemployment is still very low, there have been more job openings than unemployed people since May 2021, and a record number of Americans flew during the Fourth of July holiday this year. None of that happens in a failing economy. Furthermore, the stock market is just off of its all-time highs. Markets are forward-looking mechanisms, so they tend to reflect how the economy will look in six to 12 months. There's no guarantee, of course, but a market at all-time highs suggests a stronger economy in the near term. On the other hand, the only way you could think everything is rainbows and unicorns would be if you're consuming news from sources that slant things positively. Grocery prices have increased 26% over the past four years, which equates to roughly double their historical average inflation rate. Housing is unaffordable for many, and insurance premiums are insane. Gas prices, while down slightly from a year ago, are up nearly $1 per gallon since 2019. It costs a lot of money to be an American these days. But if you think any new president can walk in, flip a switch, and change everything, you don't understand how the economy, Wall Street, or Washington works. I know I'm being harsh, but it frustrates me when I see so many people missing out on making money and offsetting those higher costs because they've been scared by the media. Again, all you have to do is look at the market. If the economy is failing, stocks don't race higher (unless things are about to get better, like in early 2009). | 
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