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August 1, 2017 | Which Story Reflects the REAL Economy? Take your Pick…

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

The feature pages  of Tuesday’s Wall Street Journal offered the usual jumble of economic contradictions. We read on Page One that losses for credit-card issuers are increasing, reversing a six-year trend.  This, the Journal notes dryly, could be “a warning sign for markets and the broader economy.”  Elsewhere in the newspaper, however, we read that business at Boeing has been gangbusters, including deals that will eventually total $290 billion with Indian airlines over the next 20 years. On the same page, another story purports to explain why oil prices recently settled, albeit briefly, above $50 a barrel. But wait: A glut of retail space in the grocery sector threatens to trigger a massive wave of store closures across the country. Which story best reflects the true state of the economy? Take your pick.

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August 1st, 2017

Posted In: Rick's Picks

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