Good news is hard to find these days. Yesterday was no exception. We awoke to the reality of $5 gas in South Florida – with Palm Beach County becoming the first in the state reaching that expensive and demoralizing threshold. Then the markets opened and the selling ensued as investors spent Monday reacting to Bidenflation, pushing the S&P 500 into bear market territory. The crypto crash continued and even gold and silver weren’t immune. What was higher yesterday? You guessed it. Oil – along with interest rates. Part of what’s challenging right now is that there’s no relief in sight. Not with oil and gas. Not with interest rates. Not with investment options. Not with the Biden’s administration's policies. The worst of all worlds is when we’re falling behind daily to inflation, but our savings and investments are simultaneously falling in value as well. This is the environment we’ve found ourselves in. There’s no near-term relief in sight which is frustrating. That said adversity always presents opportunity. And that opportunity might just be starting to show up in aspects of the economy. Take stocks for example. With the S&P 500’s descent into bear market territory, the fundamental value of the S&P 500 became the best it's been in seven years. Stock prices are currently falling faster than fundamentals. It doesn’t feel good for what you’re already holding, but it does potentially present opportunity for the future. I’m trying to find silver linings where I can.
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