Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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FACT: A LARGE percentage of Gen-Z and millennials are living paycheck to paycheck. Approximately 70% of them are living paycheck to paycheck with > 50% “somewhat or very financially dependent on parents.” How this ultimately plays out is going to define the NON-recovery we are currently nowcasting for the next 3 quarters. In the meantime, the elites who run the place (Wall Street, Washington, etc.) are “seeing” rainbows and AI puppy dogs in their current “Year-to-date” stock market return and associated compensation. It’s too bad that the stock market isn’t the real economy. |
