Scott W. Wagasky

Yes, you have caught us. We are using this title to grab your attention. We know it does not feel like we are experiencing a Goldilocks economic recovery. However, the headline contains an element of truth. After all, we are in an economic expansion. While the unemployment rate is way too high, those who have jobs are less concerned about losing them and are spending more.

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The year-long upturn in the markets came to an abrupt end during the past quarter. Troubles in Europe, the massive oil spill in the Gulf of Mexico, mixed economic news from the U.S., and fears of new financial regulations coming out of Washington all contributed to a dour mood. Read More

Investors dislike uncertainty. And they certainly have been greeted by a very large dose of it the past several weeks. Greece, Goldman Sachs and proposed financial regulation have all been in the news on an almost nonstop basis.

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As 2010 opens, we would like to review the market’s condition and provide an outlook for investors. This has been a difficult year for the economy. Top economic concerns like the housing market and consumer spending continue to weigh heavily on financial markets. While near-term uncertainty in the economy has been difficult for investors, a bigger picture of financial market history could provide a helpful framework for considering the future as the new decade begins.

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Health care costs in the United States are approximately $2.1 trillion annually and represent 16 percent of our overall economy as compared to roughly 9 percent in 1980. In other words, health care is a large and growing business and a number of people and companies are making a lot of money because of the current system. When people say “reform,” they really mean change. These changes will inevitably cause some to benefit and others to lose. A definitive consensus answer on the best system will never occur.

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It has been a long, cold and dark winter for investors. However, starting March 9, all of the major stock market indices rallied by 20 percent or more, before abruptly correcting shortly after.

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