Inflation Ain't Going Away -- David Wright #5856

During this Financial Survival Network segment, Kerry Lutz interviewed David Wright about the recent CPI report and its implications for the economy. Wright expressed caution and bearishness, citing the sticky inflation rate and the upcoming challenges for small businesses. They also discussed the impact of AI on the economy and the potential for job displacement, with both expressing concerns about the long-term implications of AI.

David advised investors to create income streams from investments, rely on high dividend-paying stocks, and find companies that can sustain income dividends of 5% to 7%. He suggested investing in consumer staples and comfort stocks and avoiding AI stocks that don't pay much in dividends.

The conversation also touched on the upcoming PPI number, with David stating that it will be lower than the previous month due to prices coming down. They discussed the cost of goods, with Kerry mentioning the cost of Thanksgiving dinner and 4th of July barbecue as two indexes she pays attention to. David expressed concern about the disparity between the country's gross domestic product and national deficit, and the potential effects of a hike in interest rates.

They also discussed defensive sectors, such as healthcare and consumer staples, and the impact of the current administration's healthcare policies on the market. Finally, they discussed the potential impact of the 2024 election cycle on the markets and the ongoing banking crisis, highlighting the challenges faced by regional banks, including the squeeze on net interest margins.

Despite the uncertainty and volatility in the markets, both speakers emphasized the importance of experience and perspective in navigating these challenges. They also discussed the exorbitant cost of prescription drugs in the US and the potential benefits of negotiating drug prices with Medicare. David offered to help Kerry make a list of his prescription meds to explore the possibility of lowering their cost.

Visit David's site at: https://wrightfinancialgroup.com/

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