Warning: It’s Time to Protect Your Portfolios

Sep 29, 2023

Experts have tried to assure us all is well in the U.S. economy.

But most of us know it’s not true. Just look around. Credit conditions are tight. Americans are financially strapped. Home sales are down. Fear is running rampant. Bankruptcies are on the rise. In fact, according to S&P Global, August saw another 57 corporate bankruptcies.

“S&P Global Market Intelligence recorded 459 bankruptcy filings in 2023 as of Aug. 31, more than the full-year totals for 2021 and 2022. The year-to-date figure is also higher than the comparable total for all but two of the prior 13 years,” they noted.

But wait, there’s more.

Consumer confidence just fell to 103 in September from 108.7 in August. Analysts were only looking for a drop to 105. Even the index that measures future expectations slipped to 73.7 in September from 83.3 in August. Anything below 80 signals recession within a year. New home sales slipped. Credit card companies are racking up big losses again.

Even Goldman Sachs just warned our strategic oil reserve just hit a 40-year low.

“That’s one reason Goldman Sachs expects oil prices to stay high, averaging $100 a barrel this time next year. Triple-digit oil would boost already-high prices at the pump, worsening inflation and potentially influencing the 2024 race for the White House,” says CNN.

And now, Doug Lawler, CEO of Continental says we could see $150 oil without new production.

Why am I telling you this?

Too many people believe all is well. It’s not. And if you don’t prepare your portfolios for potential downside risks, you could take a potential hit. Some ways to protect your portfolio include dividend stocks, trades on volatility, and investments in recession-proof businesses that many of us depend upon to survive.

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