Biblical Stewardship Authority Dan Celia: Economic Headlines Are Not Fundamentals

Biblical Stewardship Authority Dan Celia: Economic Headlines Are Not Fundamentals

PHILADELPHIA—The market roller coaster seems to be slowing down, and although a correction was imminent after the huge numbers posted in 2018, nationally syndicated host and biblical stewardship authority Dan Celia says a wise philosophy continues to be to stick to economic fundamentals.

“As we look ahead further into 2019,” Celia said, “it’s good to have more indicators pointing toward a continued bullish market than we have seen in some time. Many are saying the bottom has been put back in and it is time to get into the market. I prefer to stick to my fundamentals, and the fundamentals haven’t been as bad as the headlines claim. And headlines have nothing to do with fundamentals. Along with these continuing strong fundamentals, we are seeing some very positive leading market indicators.”

These positive indicators, Celia added, have included a strong December jobs reports, where U.S. employers added a hearty 312,000 jobs.

“Now,” Celia said, “another encouragement is that mortgage rates have hit a nine-month low, and this is helping the housing market—not to mention that home builders are also seeing a rebound in the housing market. In 2018, many people put buying a home on hold; that seemed to be changing late in 2018 and certainly continues to be trending in a positive direction. It will be interesting to see if this impacts homebuilder confidence at the end of this month but, certainly, it is a good indication for the future of the markets and, more importantly, the strength of the economy.”

Celia pointed to an index that measures the dollar called the “Big Mac Index”—a tongue-in-cheek index that compares the price of a McDonald’s Big Mac sandwich internationally in each country’s currency and, using calculations against the dollar, measures the purchasing power of the U.S. dollar in comparison to that country’s currency.

“There are, of course, other more traditional measures that are also used,” Celia said. “However, the fact is that this has been a pretty accurate index. The indication is that, along with many other currency indexes, the dollar is at its strongest point in 30 years. This means our purchasing power is as good as it has been in a very long time. I have heard gold sales advertisements talk about the purchasing power of gold against the dollar. The dollar has far exceeded the rhetoric of gold marketing. Cash has been king—an important concept to remember.”

The fundamentals of the market stay strong if the dollar’s strength, hiring, productivity, wages, consumer confidence and business sentiment can be maintained, Celia said.

“We need to start to see a bit more positive information coming out of the global economy and start getting some political events put to rest here in America,” he added. “We will hopefully be able to then get back to some positive economic momentum moving forward.”

Celia discusses these and other global and economic headlines on his daily, three-hour program, “Financial Issues,” heard on about 650 television and radio stations nationwide and reaching millions more on several television networks. Through the program, writing and daily interactions, Celia, who leads Financial Issues Stewardship Ministries (FISM, www.FinancialIssues.org), has helped people of faith honor God with their finances and be free from a fear of money.

Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.

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To interview Dan Celia of Financial Issues Stewardship Ministries, contactMedia@HamiltonStrategies.com or 610.584.1096, ext. 105, or Patrick Benner, ext. 104.

By |2019-01-21T14:01:03+00:00January 21st, 2019|Press Releases|

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