As easy as it is to take pot shots at the economy...
There are plenty of places that we can point to if we want to try and prove that the economy is still struggling. Debt? Check. Unemployment? Check.
At the same time we can find a number of indicators that show an economy clearly on the mend. Numbers out of the manufacturing industry have been looking darn good, and while consumer sentiment still has a long way to go before reaching pre-crisis levels, we're faaar off the depths from earlier this year.
But my focus is on investing and so economics really only matters to me insofar as it impacts the investing environment. And at least from what I see, I don't think the economy is the biggest worry for investors right now -- it's valuations.
Click here to see my full review of economic indicators and how they play into the investing environment.
Although I probably have a less dour view of the economy than Jeremy Grantham, I find myself agreeing with his bottom line -- that a lot of junky/risky stocks have rallied and higher quality (dare I say "blue chip?") stocks are looking attractive.