I am quite bullish on the US economy over the short term — meaning until the Biden admin straps on the increased tax weights and we all try to swim with those babies drowning us. Hell, there is a great chance it may not even cross the finish line.
I like to take a look at a couple of bellwether companies to check my enthusiasm. One of those is Apple.
Apple reported the following:
Q1-2021 sales up by 54% to $90B — that’s $90,000,000,000 in one 90 day period Jan to Mar. That is a billion a day. Wow.
Profits increased by more than 200% to $24,000,000,000 – $24B.
iPhone sales of $48,000,000,000 — up by 65% — led the way with the new 5G iPhone 12 being a stellar performer.
Of course all of these numbers far exceeded Wall Street predictions and expectations. [WTF do you do for an encore after a quarter like that, Tim Cook?]
The US economy is as strong as 100 acres of garlic and if the Biden admin doesn’t kill it by smothering the energy industry and crushing us with taxes, it will return to the best economy since 1776.
But, hey, what the Hell do I really know anyway? I’m just a Big Red Car.