Powerful Narratives: Stories Propelling Economies and Markets in 2020

Happy New Year and Happy New Decade! What will the 2020s bring? As J.P. Morgan famously said: “Stocks will fluctuate.”  In 2019 they fluctuated mostly higher and the U.S. was still the place to be. Tech giants such as FANG’s Facebook, up 56%, Google’s parent Alphabet, up 29% and Amazon.com up 23% propelled the NASDAQ 35% higher. The S&P 500 rose nearly 27% and the Dow Jones Industrials advanced over 22%, all trading in record territory.

It was pretty much a year for stocks all over the world, which is, of course, bringing the doomsayers out in droves. An excellent article on the front page of The Wall Street Journal’s Year-end Review & Outlook section is a good example. It’s titled: “Japan’s Lost 30 Years Give Pause To Those Looking at The U.S.”

What are the stories propelling economies and markets in 2020 and the decade going to be? It’s a podcast conversation we had with Nobel Laureate economist Robert Shiller about how important powerful narratives driving the economy are.

WEALTHTRACK #1627 published on January 03, 2020. More info at: https://wealthtrack.com/nobel-laureate-robert-shiller-explains-his-theory-of-narrative-economics-how-powerful-stories-influence-the-direction-of-the-economy/