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Inequality
May 2019
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April 2019
Inequality
Inequality is certainly a subject that has been the focus of much discussion over the last decade. It is a topic in many political and economic discussions. What should we do about it? Can it be reduced, why does it always seem to be increasing? What level of inequality is tolerable, and how do we get there? Any of us that have raised children through their pre-teens has heard the cry, “It’s not fair!” To which the standard parental response is “It may not be equal, but it’s fair.”
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Let’s not get carried away and start the chant, but we have had a full recovery in the stock market following the fourth quarter swoon. Again the big change that allowed this reversal was the Fed backing off of their rate increase threats, so that must have been the problem. First quarter earnings have begun to be reported, and they are coming in about as expected. S&P 500 earnings for the first quarter are actually forecasted to be down slightly from the first quarter of 2018. If this prediction is correct, it would be the first quarter of lower year-over-year earnings since the energy induced earnings recession of 2015-2016.
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