We keep hearing the sky is falling (recession) but the Can keeps getting kicked down the road.

Last week we had bullish updates on durable goods orders, business investment activity, new home sales, home prices, consumer confidence and initial jobless claims.

GDP Gross Domestic Product on Thursday grew in Q1 at a much faster pace than previously estimated.

Many of the bearish economists are now dialing back their calls for a recession.

Here is an example of Bearish (negative) thinking:

Home prices: When they’re up, it’s bad because it means fewer people can afford to buy. When they’re down, it’s bad because existing home owners are seeing their net worth shrink and some could go underwater on their Mortgage.

Happy 4th of July and as always, available for any questions that might come up.