Recession nowhere near close as companies report good earnings numbers


You might have missed it, but it was another sign that the economy is doing well, and that a recession isn't anywhere close to coming.

The S&P 500 hit a record high this week as companies report third quarter earnings and as we get word of progress in the Trade War with China. Financial planner Leonard Raskin says those earnings are strong.

"Companies reported profits above expectations. Earning look good. It's hard to cry recession when you are making that type of money," Raskin said.

But the mainstream media didn't mention the milestone, which didn't surprise Raskin at all.

"A couple of months ago they were all about telling how bad things were going. They thought they could talk us into a recession and the fact is that the economy is too good for a recession," Raskin explained.

And that is because you're looking at you financial situation, and realizing you are better off than you were in 2015.


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