Charles Payne

One says that the slow and steady wins the race, but on Main Street, it depresses the have-nots and confounds those who are stuck in jobs with no upside. The slow and steady dissuades dreams and ambitions for those who have seen Americans climb off the canvass to roar with confidence and victory. Therefore, the slow and steady dissuades dreams and ambitions for those who were told that the world is your oyster. The 'slow and steady' actually means losing ground in a fast-moving world where only one nation has a bull's-eye on its back.

However, the slow and steady is great for the stock market, where the greatest fear investors have is an economy that overheats, only to meltdown later. However, enough market watchers understand that America's economy has to do much better in order to justify the rally enjoyed thus far; and I agree. With Friday's jobs report, the US economy has now posted 200,000+ net jobs in four consecutive months and these days, that is good news. What could make this, even greater news is if Americans could feel that the coast is clear; clear enough to invest more and spend more within their limits.

The news did not affect the market, as it has always been overshadowed by the jobs report. It has been a long time since we have seen a sharp spike in spending, which is big news. People are beginning to use their credit cards again, and hopefully, this is a prelude to them seeking business loans to start or to expand their businesses.

Back in July 2008, Americans had more than $1.0 trillion in outstanding credit card debt. Since then, credit spending mostly had been in freefall state, save for the past few months where it has really ramped higher.

Before this shift in spending, the only thing Americans have borrowed for were to cover auto and student loans. In fact, the rise in student loans has many worried...

Learning the Hard Way

I don't know, Ma'am, why they make all this fuss about education; none of the Pagets can read or write, and they get on well enough.
-Lord Melbourne

Briefly in 1834, Lord Melbourne was the UK Prime Minister. However, from 1835 to 1841, he is best known for his amazing mentoring of Queen Victoria, who claimed the throne at age 18.


Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.