Seven charts that leave you no choice but to feel optimistic about the US economy. Matt Phillips writes the US economy is the best we've seen in years. The US has strung together five consecutive months of more than 200,000 new jobs, something the economy hasn't done since the late 1990s. The jobless rate has fallen sharply in recent months to 6.1% in June. The number of job openings hit a seven-year high of 4.6 million in May. While car sales have surged to fresh post-crisis peaks, as financing remains cheap and easy and consumer sentiment improves. Phillips asks Now, are we witnessing a golden age of perfectly equitable capitalistic progress? Hah. Of course, not. But still, the economy is by far in the best shape of the last five years, and all indications are that more improvement is in the offing. See all the charts here: (VIEW LINK)
Agree the economy is in good shape but where is the corporate earnings growth to support current valuations?
On a normalised basis it looks like US equity valuations have been stretched and now reverting... http://goo.gl/aXT7AO