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Record Household Debt
The Market Bull 2018

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The major averages enter the final hour mixed on little real news. Since Monday the Standard and Poors 500 Index is up 8 points or ¼% while the NASDAQ has lost 55 points or .7%.

Regional employment data shows that the Pacific region led employment growth in June with a .3% advance. On a year ago basis the Pacific region is in 3rd place up 2.1%, trailing the Mountain plus 2.7% and West South Central up 2.6%.

Internet or Ecommerce Sales continued their inexorable march higher in the second quarter advancing 3.9% to 127.3 billion Dollars. On a year ago basis sales have gained a respectable 15.2%.

Nothing says success like record debt levels. The New York Fed released its 2nd quarter Household Debt Survey the other day. Highlights, or low lights if you preferer, include a 16th straight quarter of increasing debt on a .6% or 82 billion increase to 13.29 trillion Dollars. Of the 82 billion advance 56 billion was mortgage related. Credit card debt grew by 14 billion, auto loans added 9 billion, the rest was an assortment. Delinquency rates continue to slip despite negative real wage growth and rising interest rates falling to 4.5% in the 2nd Quarter.

This is Caleb Lawrence Registered Investment Adviser Scotts Valley Drive and Willis Road in the Scotts Valley Plaza, Suite 202 or call me toll free at 888-RICH PIG / 888-742-4744.

You can catch me on the radio at noon each business day as well on California’s central coast. KPIG 107.5 FM in the Monterey Bay or KPYG 94.9 FM in San Luis Obispo.

Rebroadcasts, additional writings, and other entries are also available on my Blog at www.clinvestments.com

Advisory services offered through Caleb Lawrence Registered Investment Adviser Inc.


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