Some Common Cents for August 15th 2014

This morning, I saw a headline which used the word surreal to describe the US economy. According to Merriam-Webster, the definition of surreal is: “marked by the intense irrational reality of a dream; unbelievable, fantastic.” This is apt.

When I pour through the data and look at trends, I keep coming back to a modestly growing economy that is vulnerable to external shocks. In other words, yes, the economy is growing at a mediocre, but sustainable rate, but the underlying strength is anything but that, strength. I will stop short of saying the economy’s foundations are built on sand, but the pilings aren’t as deep as anyone would like either…Read On…

The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.