Hello, this is our weekly market alert video for the week ended August 20 2021. And this was a very interesting week as we look back at it, because we got some insight into how the consumer is feeling. And of course, since 70% of our economy is driven by Consumer spending, how the consumer is feeling is very important. The consumer confidence surveys are ones that are watched very carefully. And we just got the lowest reading in consumer confidence in the pandemic. But beyond that, going back all the way back to 1991, so almost 30 years, this is the lowest consumer confidence level we’ve seen. What do we attribute that to? Well, the Delta variant is kind of probably one of the bigger things, the inflation that we’re seeing is, we’re sure another contributor to that the Delta variant is like, Oh, my gosh, you know, is this never going to end Are we going to be like going back and forth with this with lambda, and who knows how many other variants certainly that can weigh heavily on consumer confidence.
However, having said that, we don’t believe that the Delta variant is one that’s going to be the derailleur, if you will, of the economic recovery, if you look at where what the Delta variant has done in other countries, in Asia than in Europe, and they seem to get diseases and then bring them over to us. So, we’re behind the curve, when it comes to that we can look at them and see what’s coming our way. And the Delta variant seems to have a two month spike before it comes down. So hopefully, by October ish, maybe November, the spike should be we should have seen the spike, and hopefully will recover, we’ll start seeing some betterment, obviously, between now and then there’ll be some tragic stories and our prayers and hopes go out to everyone. And we hope you’ll stay safe and you’ll do everything you can to protect yourself.
However, the economy, the stock market, don’t care how many people get sick, or die, it only cares about whether companies are making profits, and that drives their prices in most cases. And we continue to see that that will continue. And so therefore, despite the really bad news on the consumer confidence front, we continue to see as we have said over the several last several weeks that we’re going to see more new, all time highs in the s&p and the Dow heading into the end of the year. If we do have lock downs, if the Fed raises interest rates, then everything’s out the window, forget everything I just said. But we don’t see either one of those happening. And therefore, we continue to be optimistic. However, things can change quickly, as we all know. And that’s why having our investment protect strategy in place is so important.
We want to take action, if needed to protect you and your future from financial disasters, we want you to have financial peace of mind, we want you to enjoy your second childhood without parental supervision. And we want your money to last as long as you do, as you know. And so therefore, we, we hope that you are feeling all those things. And our goal, of course, is to have your money last as long as you do. So, let us worry about all this boring financial stuff so that you don’t have to, and we’ll keep you updated. Now, a very interesting thing happened this last month, which I want to thank you and everyone who has done so the number of people that have subscribed to our podcast and to our market led alert video. This one that you’re watching tripled in the month of July versus the month of June. So Wow. So be sure to subscribe to this. Also be sure to share it with your friends and family and business associates. You’re welcome to do that. We want as many people to benefit from our message as possible. And thank we’ll talk soon and stay well.