2020 has been a tragic year in so many ways and certainly a year we all can tell a story about. As you will read in this week’s Weekly Market Review, a lot of the economic statistics we measure and track are getting better. In fact, some areas such as unemployment, are improving rather dramatically. As investors and US citizens we can be excited about the improving economic landscape even though we have a long way to go.
However, 2020 is still very much a mess even beyond the industries most impacted by the pandemic and the economic shutdown such as restaurants, airlines, and hotels. Unfortunately not improving are political tensions, in fact, they are worsening. At the local and state level, you have mounting pressure and criticism against elected officials on how they did, or did not manage the COVID 19 crisis. At the national level, the death of Supreme Court justice Ruth Bader Ginsburg has added a significant amount of fuel to the already hot burning political fire. Speaking of fires, the sad situation occurring in the west with the wildfires is unprecedented. Those residents and thousands of firefighters need our prayers right now. I’ve provided this LINK where you can access very detailed information on the specific fires. A little closer to home are those being impacted by Sally and the other recent named storms occurring in the gulf and southern states. Those in middle Tennessee don’t need to be reminded of how damaging flood waters can be.
On Saturday, my associate Chris Gardner, made a quick trip to coastal Alabama to provide support to a family member who had suffered major damage to their home as a result of Sally. More than in any year of my life, 2020 is presenting the opportunity for us to lend a helpful hand, to assist those that are in need, to serve those that are a victims of current events and unfortunately circumstances. It could be your sump pump, your lawnmower, your chainsaw, your oven, your refrigerator, your time, your money, or just your listening ears, but I encourage you to seek those that need your help. Maybe, if we all lend each other a helping hand, we can all share brighter better days ahead in the near future.
As always, we hope you find the Weekly Market Review both informative and interesting.
Trevor N. Coe, CFP®