Told You So 12-10-2010

The economy has been accelerating since September

In the past two months, I have observed and predicted faster US economic growth than generally perceived and therefore a rising stock market.  (See e.g. “Employment is rising fast” through “US Economy accelerates” 11/24/10). Wall St. discovered these facts last week.  Several forecasts improved their outlook and raised their GDP growth forecasts (e.g.  Goldman Sachs, ISI, Yahoo Finance, etc.)  The importance of this is that it caused a bounce in the stock market.  This, in turn, is one of the most important factors influencing consumer confidence which can further boost the economy.

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