Counting Your Blessings

Thanksgiving is a federal holiday in the United States, celebrated on the fourth Thursday of November.  On this day of holiday thankfulness it is useful to reflect-upon what an incredible time it is to be alive.    

Ten years ago would it have been considered possible to treat cancer with gene therapies?  That items (including body parts) could be created with a 3D printer?  That the unemployment rate peaking at 14.8% in April of 2020 today heralds initial unemployment claims last week of only 199,000 - a decline of 71,000 from the prior week - the lowest level since 1969.

Who knew you could summon a ride from a Smartphone.  Speaking of automobiles – back-up cameras are now a standard feature.  Cars have cruise control that automatically responds to traffic conditions and flow.  There are blind spot warnings and many cars can now park themselves.  A new generation of sixteen year-olds may no longer have to learn how to parallel park!  Safer, self-driving technologies are on the cusp of commercial viability.  

For anybody grumbling lately about the judicial system being broken I have news for you.  It works pretty well.  Especially the jury system.

And there are vaccines!  And new therapeutics awaiting emergency use authorization!

Sure, there are inflation worries as Personal Consumption Expenditures (PCE prices) grew 0.6% in October, and are up 5.0% from a year ago. Just wait for the collective howl as home heating bills arrive in December.  Nevertheless, economy-wide Q3 corporate profits, which rose 4.3% from the second quarter, are up 20.7% from a year ago, and at a new all-time high.  Retiree savings reflects the strength of US markets and the profitability of entrepreneurship. 

For sure there is much to be improved-upon – yet on balance this is a terrific time to be living.  We have much to be thankful-for so if your glass is half-full take a moment to count your blessings.  

Happy Thanksgiving!