Broker Check
Clowns to the Left, Jokers to the Right

Clowns to the Left, Jokers to the Right

August 28, 2022
Share |

In late April 1973, the little-known band Stealers Wheel released their hit single, Stuck in the Middle with You. This song still gets significant airplay today. As a matter of fact, my wife Rachel and I heard it today while we were at lunch in a Mexican restaurant in Kent, Ohio. 

Source: Smule.com

Many people know the song from its classic chorus:

Clowns to the left of me

Jokers to the right

Here I am, stuck in the middle with you

With three months and counting before the midterm elections, which will seem like an eternity based on the never-ending stream of political advertising, I believe the chorus above rings more true than ever.

Our trusted friend Brian Wesbury, Chief Economist at First Trust Advisors, who’s views we occasionally share with you, always starts his videos by saying they hope to be the antidote to conventional wisdom.

Source: etfstrategy.com

Brian put out a piece this week entitled Silly Season. He lays out the case that between now and election day, we will see even more biased and unsubstantiated narrative regarding the economy than usual.

He reviews whether or not we are in a recession, and reviews what people on both sides of the aisle are claiming. He then lays out the actual economic data and the story the data tells. He then does the same with inflation. There are obvious narratives that people on the left or right would like to have you believe. As is typical, there is much more complexity and nuance to the real story than what can be shared in a tweet or social media clip.

I am including a link to Brian Wesbury’s article, as well as a video, that he has posted to his website about what happens when people think about economics through a political lens.

Silly Season by Brian Wesbury

Trying to make some sense of it all

But I can see it makes no sense at all

Is it cool to go to sleep on the floor?

‘Cause I don’t think I can take anymore

Clowns to the left of me

Jokers to the right

Here I am, stuck in the middle with you

We hope that some wisdom and perspective help to set the stage for all we are going to endure over the next 90 days. It is essential to our family’s wealth and financial success to not let emotions and politics lead you to make bad decisions based on one lens or set of data.

While there may be clowns to the left of us, and jokers to the right, the advisors of Impel Wealth Management are here for you, our trusted friends, and clients. Together, we will make it through the next few months and keep “Moving Life Forward”.

The views stated are not necessarily the opinion of Cetera and should not be construed directly or indirectly as an offer to buy or sell any securities mentioned herein.  Due to volatility within the markets mentioned, opinions are subject to change without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed.  Past performance does not guarantee future results.

Investors cannot invest directly in indexes. The performance of any index is not indicative of the performance of any investment and does not take into account the effects of inflation and the fees and expenses associated with investing.