I need to take my own advice. It seems I am constantly encouraging others to turn off their propaganda channel of choice, the leading two being CNN and Fox News, and focus on their version of the real world and just enjoy what it means to be an American at this point in time.
As soon as I get into the truck to drive home from the office, however, I turn on the propaganda and I’m whipped up into a frenzy. Oh well, habits do die hard.
So, on this holiday weekend devoted to gratitude and family, let’s take a minute to really think about what it means to be an American in 2019.
Investors continue to enjoy the longest bull market in stocks in the modern period of markets. According to research available from First Trust, at the end of October 2019 U.S. markets had experienced 10.7 years of positive trending returns.
With new stock market highs being reached this week, this means many American families have more net worth today than at any other time in history. Truly amazing.
At the same time, unemployment remains near the lowest level since before I was born (1969). As any parent who has raised children to adulthood knows, few events are more gratifying than our kids finding jobs and becoming ultimately independent.
Right now, in our nation, there are more jobs than there are people to fill them. Truly incredible.
The flip side of this phenomenon is, according to the Department of Labor, average hourly earnings are also up 3% from last year. Many people who are working are making more money than ever before as well, which in my opinion is the true definition of prosperity.
In addition, for the first time in decades, the U.S. military is not engaged in active conflict. It’s way too early to declare “peace in our time," but I sure can appreciate “peace at this time” for now.
Do these things mean all is right in America? Of course not. In my opinion our nation, and especially our government at many levels, continues to fail those struggling with poverty. A nation as prosperous as ours should have better solutions for homelessness and poverty.
I don’t think the ultimate solution can come from Washington, D.C. Appropriate solutions must be developed locally, which is something each community and individual must do better to address.
Our nation continues to experience the scourge of opioid addiction. The solutions in the area appear so hard to envision, while the hardship and devastation are so real to so many. We have to do better.
As we enjoy, however, the company of our loved ones, and the bounty of a meal made with the love, care and collaboration of our families, now is the time to sit back and acknowledge the blessings and gifts bestowed on our nation.
This gratitude isn’t about whether Republicans or Democrats supposedly created this bounty; it isn’t intended to give the credit to Donald Trump. We as Americans created this abundance by working hard, innovating to make life better and by taking care of each other.
Despite the propaganda channels telling us otherwise, the other guys' politicians weren’t all bad, and ours aren’t all good. One thing is certain though, while we can always get better, we should all sit down this weekend and be grateful to be part of the American story at this fruitful time in history. Happy Thanksgiving.
Opinions are solely the writer's and are for general information only and are not intended to provide specific advice or recommendations for any individual. Stock investing involves risk, including loss of principal. Marc Ruiz is a wealth advisor and partner with Oak Partners and registered representative of LPL Financial. Contact Marc at marc.ruiz@oakpartners.com. Securities offered through LPL Financial, member FINRA/SIPC.
