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Morning Commentary

Riding The Wealth Effect

By Charles Payne, CEO & Principal Analyst
3/8/2017 6:00 AM
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The market is soaring as U.S. consumer and business sentiment soars, which are the key ingredients in the so-called "wealth effect". Feeling prosperous and acting prosperous are two different issues underscored by the fact that folks didn’t spend money during the record-breaking rally under President Obama.

Even plunging gas prices didn’t move the economic needle; on the contrary, shelved construction work and job layoffs had a net-negative impact on the overall economy.

One of the dirty little secrets is that most American households have more cash after expenses (real disposable income of $39,430) than at any time in American history. 

Rich people are spending money in part because they believe lower taxes are coming and they are making more money

Click here to download my free report of three stocks to own for the “Real Wealth Effect’. 

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