In what I assume to be a tongue-in-cheek analysis, Michael Panzer of Financial Armageddon explains the five pillars underlying the stock market rally:
Bull point #1: Rising revenue for financial firms that process food stamps and other government assistance payments; expanding niche market for canned pet food products
“One in Six Seniors Lives in Poverty, New Analysis Finds” (National Council on Aging)
Washington, DC – One in six older Americans lives below the federal poverty line, according to a new government analysis which almost doubles the number of very poor seniors compared to the standard estimate.
At 16%, the proportion of seniors living in poverty is also higher than the proportion of all Americans in poverty. The plight of poor women is particularly striking: 43% of Hispanic women who live alone, and 34% of black women who live alone, live in poverty, according to Supplemental Poverty Measure Research, an alternative calculation from the U.S. Census Bureau. The Supplemental Poverty Measure is a U.S. Census research tool that considers previously overlooked costs like out-of-pocket medical expenses and taxes that can create economic stress for seniors on fixed incomes.
Bull point #2: Heightened demand for refrigeration equipment and cold storage facilities
To read the rest of the article, go to Financial Armageddon
