PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discusses the issues of the recent COVID stimulus.
“Markets are going to continue a little bit of volatility. The S&P is down, and NASDAQ’s down. The NASDAQ had an unbelievable run on Tuesday, up over 3 percent, but it just can’t hold. The only things out there that will have any real value in the next several weeks are those large cap companies that are not overvalued. All eyes are on inflation as well as on the bonds. Bond yields on the 10 year is something to watch.
“Now we have reached $5.3 trillion worth of added debt due to COVID. Ninety-one percent of this last COVID stimulus went to things that were totally unnecessary and unrelated to COVID. I’m not saying the organizations didn’t need money, but their need for money is much more about poor management than it is about COVID. Keep in mind they were mismanaged and in trouble long before COVID. So it is extremely unlikely that good management is going to flow into Amtrak, museums and governments with the stimulus. Good management is not just going to happen because you have more money now. And that’s the part we seem to miss.”
Dan Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
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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