About to head home after two weeks in Southeast Asia…off the grid for much of it.
Here’s the good stuff that happened whilst I was floating down the Mekong River.
Wages are up…
and have been rising steadily for the last 3 years…outpacing inflation.
And will keep going up…
From The Economist – “A blue-collar bonanza is under way…three forces that shape labour markets—demand, demography and digitisation—have each shifted in ways that benefit workers.”
If you’ve had to hire a plumber, carpenter, or electrician recently, you know what they’re talking about.
Implication – higher wages = higher premiums.
While inflation continues to drop…
One economist got this right, while many just endlessly caterwauled about the imminent rise in unemployment and drop in wages necessary to tame inflation.
Gotta love economists…or not.
Fuel prices continue to drop…leaving more dollars in our pockets
All this good economic news – consumers have more money to spend, employment remains very strong, and prices are moderating means there will be…
More dollars in your investment portfolio
You’ll likely see your investment portfolio rise in value…BofA, RBC, and Deutsche Bank are among the firms predicting record returns in 2024.
What does this mean for you?
As you start your week, don’t buy into the “economy is awful” nonsense.
Finally – -one of the keenest observers of trends in business and the body politic is Scott Galloway of NYU. I highly recommend his weekly newsletter.
