Let me ‘bore’ you for exciting reasons because I suspect a lot of important things are getting better, though a lot of people don’t actually know it right now. Like superannuation, economics can be unfairly tagged as boring but it’s really important for our hip pockets.
That said, whether you’re feeling wealthier or positive on how the economy will treat you in the future can sometimes have a timing problem.
For example, I asked Mark Levy (my colleague at 2GB who’s hosting the station’s afternoon show over summer) if he thought the economy was going well, average or badly. Wisely he said “average” but others could have said “poorly”, given the negative economic growth number we saw recently. This encouraged negative types in the media to pull out the R-word for recession but few of these journalists/commentators pointed out that this was a September quarter number.
We’re now closing in on Christmas and this was data from July, August and September. It’s old news. Last week, I looked at how the economy is actually going in the December quarter and got 14 good news data drops and three bad ones.
I also surprised myself in finding that some of the bad news I heard reported this quarter actually related to the September quarter. Negative news can leave incorrect impressions, even in the minds of someone like me, who analyzes economic data daily!
Therefore, in the interests of you having the full story, let me load you up with some super good news stories to take to your Christmas and New Year celebrations. Here goes:
I could go on and tell you stuff, such as the median growth super fund has returned 12.8% in 2012, 17.2% in 2013, 8.5% in 2014 and 5.7% last year. And if Warren Chant is right, then we could see a 7% return by year’s end, which is an extraordinary story for our super fund assets, which, for many of us, could be our most-important wealth-builder!
Sure, January or February could bring a “we’ve gone too far with this Trump positivity” sell off for stocks but if economies respond to the shot-in-the-arm surge of confidence we’ve seen since Donald’s election win, then 2017 could be a more super year for the economy, stocks and general positivity.
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