There’s a booming economy, but not everyone is buying in. In fact, plenty of you are nervous.
CNBC says one-third of you have cut spending and are afraid that a recession is coming. Economist Hank Lewis at Lone Star College tells KTRH you're afraid of something the hard numbers haven't indicated is coming.
“Stocks are at an all-time high. People are buying more homes. Unless you see a steady increase of unemployment insurance claims over 16 weeks it’s hard to say there are signs of a contraction,” Lewis explained.
So why are some of you afraid? Lewis says it could be the result of a mainstream media stoking your fears with analysts talking constantly about what they call a bad economy.
“An editorial is an opinion. It’s not the same thing as giving a scientific study,” Lewis said.
And there is this. We just broke its record for time without a recession, starting the 121st consecutive month of GDP growth since the 2008.