731: Unemployment numbers still very good. Caveat new Biden regulations to slow growth. @LizPeek
Image: Bluecloud's New Home under Construction Liz Peek, @LizPeek, Fox News and TheHill; in re: The US economy after the election looks surprisingly like the US economy before: was 6.9% unemployment, which is _. Hiring will continue at a pretty good clip; NFIB small bz routinely surveys, has been and still is pretty optimistic. Good numbers for November, and expect a down number for unemployment. A small downdraft in consumer sentiment. Neither GOP nor Democrats have been optimistic. Am worried that small bz owners will look at ramping-up of regulations under Biden, and increase of minimum wage, which will slow growth. All this is secondary to covid. It’s a positive that we’ll have a gridlocked Congress. The markets are saying that they know we like to spend money. Intact: housing (highest optimism ever in bldg new homes); other industries doing very well. Salubrious effect of rising home prices. Am basically bullish, but somewhat concerned. Vaccines factored in to market yet? Don’t know. Normality by Q3 of 2021. New York was overbuilding boutique hotels: over half are seriously in arrears; one Hilton owner just handed the keys to the bond holders. Tourism in New York has been very badly hurt—dunhh. Data that 300,000 city dwellers have moved to Long Island, Westchester, and much farther afield.