In this episode of USMR Market Insights, Coy Wells talks through the current state of the U.S. economy and why the lira’s fall could have dramatic effects on our own economy. When global instability hits, the best thing you can do for yourself is to stay informed.
How the Lira Crisis Affects YOU- Video Transcription
Coy Wells: 00:01
Again, we're starting to see a new development take place in the U.S. Economy. Last week we talked about, uh, a specific issue that was taking place with the current bull market. We had met a monumental mark, meaning that the u s stock market is now in the longest bull run ever recorded in US history. By 2019, which is just a few months away, we will also see the longest growth spurt in the U.S. Economy also recorded in modern history. What that is telling us folks is that our money is sitting in sectors of the market and they're now sitting in unchartered waters. We're seeing things that we have not ever seen before in US history. Right now, we're also seeing something take place overseas over in Turkey. Right now they're telling us that the lira, the Turkish lira, is affecting the u s stock market, which we've seen it pulled back a few points and then we've seen it recover,then pull back a few points, but it's continued turmoil.
Coy Wells: 00:45
The Turkish lira only accounts for about 1% of the global currency use in the entire world. We're talking about 1% is affecting the u s economy and the reason why this is important to understand, we've talked about how the economy at this point going forward, as an extremely fragile point. We're seeing it at a point in time that we've never seen before in history. We're also seeing that by 2019, the growth from 2009 to current will be in a 10 year gross span and that's never been seen also in modern history. How will this all play out? We really don't know, but we do know that the continued upside or the sustainability of the market after the 10th is very minimal. The downside is huge and massive for those that have money sitting in retirement accounts and long term perspectives in the u s economy. And again, the new flyer we're talking about is why this bear market will be different and seven reasons why not to stay in the market. As always, click on the link below. You're more than welcome to leave a comment or call the phone number on screen to get this information immediately, or you're more than welcome to speak to a live representative. As always, thank you for watching U.S. Money Reserve's market insights.