Dawn J Bennett, CEO and Founder of Bennett Financial Services and host of Financial Myth Busting, recently wrote an article titled, “If It Walks Like a Bear and Has Claws Like a Bear…” regarding the current economic economy. According to the Nielsen agency, President Obama’s final State of the Union was watched by 31.3 million people, the lowest viewership since Nielsen began tracking the annual address in the 1990s. Obama claims the economy is doing great and enemies are being defeated… and the most serious issue we’re dealing with is global climate change. However, it’s important to look at the big picture and see it for what it really is.
- Obama touts creating 14 million jobs in the last 70 months, ignoring the jobs that were lost or not created because of an increasingly anti-business philosophy that leads to draconian and random regulatory burdens in every industry.
- He speaks of lowering deficits but ignores the $7.6 trillion dollar increase in our national debt since he took office, a 77% increase and nearly $600 thousand dollars for every one of those 14 million jobs.
- He said in the State of the Union that anyone who disagrees with his rosy view of the economy is “peddling fiction.”
Let’s look at the facts. According to Dawn J Bennet, “Median household income is down over 7% from 2007 levels, meaning that American families are worse off, on the whole. The money-printing policies of the Federal Reserve have disguised the basic fundamentals that should be driving markets and economic decisions, and the chickens are finally coming home to roost, as we can see by what has happened in the equity markets since the beginning of 2016, the worst start to a year we’ve ever seen.”
“As recently as a few months ago, so many investors, and even professional money managers, were still bullish on the markets,” said Dawn Bennett. “More and more are coming around to the old adage: If it walks like a bear and has claws like a bear, then it probably is a bear market. And you don’t sit and wait to be attacked in that case… you back away quietly before running like hell. Some of the most iconic market callers around have started talking about this. George Soros, speaking at an economic forum in Sri Lanka last Thursday, addressed global markets including the United States, and said that investors needed to be cautious, concluding that ‘I would say it amounts to a crisis which reminds me of 2008.'”
She continued, “President Obama, Congress, the Federal Reserve, and all of their media mouthpieces continue trying to sell us a view of the economy that is provably false. We can see that our lives are not getting better, so why do they keep trying to convince us that they are? And now, the markets are finally coming to the same conclusion, so we need to be ready for the bear.”
Read the full article from Dawn Bennett here: http://www.releasewire.com/press-releases/dawn-bennett-writes-article-if-it-walks-like-a-bear-and-has-claws-like-a-bear-regarding-the-economic-market-658991.htm