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A presidential election, summer Olympics, two regional wars, and a stock market reaching all-time highs all contributed to a year we will not soon forget. Here are some other notable statistics from 2024 as defined by their numbers. $ 36.2 Trillion – The national debt as of 12/4. That represents $ 107 Thousand per U.S. citizen or 123% of US GDP.1 $ 7.1 Trillion – Current annual U.S. Federal spending.2 $ 2.1 Trillion – Current U.S. Federal Deficit.3 $ 2.0 Trillion – The amount a proposed advisory committee of the incoming presidentialadministration believes the Federal Budget can be reduced.4 $ 1.0 Trillion – Current yearly interest on the national debt.5 $ 56 Billion – Elon Musk’s twice judicially-denied pay package at Tesla.6 50 Billion – The number of internet users worldwide as of October 2024 which amounted to 67.5 percent of the global population. Of this total, 5.2 billion, or 63.8...
09.18.2023
The year 2022 was a bloodbath for both equity and bond markets–the S&P 500 was down 18% and the Bloomberg US Aggregate Bond Index had its worst year ever, down 13%. This year, 2023, began with the US debt ceiling standoff, followed by a banking crisis, and continued rate hikes by the major central banks. The economy seemed like it would get worse before it got better, and the consensus was calling for a near-term recession. However, the stock market quickly shrugged off many of these concerns. Year-to-date as of August 31, the S&P 500 is up approximately 17% and NASDAQ is up approximately 34%. The S&P 500 is officially in a bull market (i.e., up at least 20% from its recent lows in October 2022). With the Federal Reserve and some economists no longer forecasting a recession[1], it makes one wonder what has changed in the last few months....
