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Ben Carlson, director of institutional asset management at Ritholtz Wealth Management, CFA, author, investor, highlights that stock markets are at record levels and wealth is at an all-time high, while the unemployment rate stands at 4.3%.
However, Carlson observes consumer sentiment is currently lower than during major economic downturns such as the 1970s, the 2008 crisis, and the period following 9/11. He raises questions as to why consumer confidence remains depressed in spite of strong economic indicators.
Carlson has previously highlighted South Korea's outperformance of the S&P 500 over the past decade, with most gains coming in the latest year, in recent commentary. He has also commented on the debate around rising long bond yields, addressing questions about debt risk and economic normalization in an earlier analysis. These observations come as he continues to track a range of global financial trends.