Strong economic data turns recession fears into recession doubts

Yahoo!Finance/Josh Schafer/6-28-2023

“Consumer attitudes remain resilient,” Jefferies US economist Thomas Simons wrote in a note on Tuesday. He added: “There are storm clouds on the horizon, but the consumer is growing tired of the expectation that a recession is imminent.”

USAGOLD note: It is mind-boggling how quickly economic sentiment can turn……In our view, the best approach to portfolio design is to diversify and hold on for the long run rather than chasing Wall Street’s confused twists and turns.  As you might have suspected, we see gold as an integral part of that diversification. “A change of fortune,” says Ben Franklin, “hurts a wise Man no more than a change of the Moon.”