The US economy is not in recession, yet there is little optimism from small businesses. This is a puzzle. The economy is doing well, yet NFIB optimism index is at levels that we have seen just after the GFC. The trend is the worst since the GFC. We don't have a good explanation. Wealth is being created, but it is not being felt with small businesses. Earnings for corporations have been attractive but again that is not being felt by small businesses. We know that equity returns are concentrated with the magnificent six centered on tech and AI, but that does not explain the poor optimism. So, what are the concrete causes?
No comments:
Post a Comment