This Summer Could Be the Start of a New Roaring Twenties

A little over a hundred years ago, the United States emerged from the double whammy of a world war and deadly pandemic. Eager to get back to “normal” life, Americans went on a decade-long spending splurge, buying cars and radios and stocks.

Although we all know how it ended, the Roaring Twenties was largely a product of pent-up demand.

This summer, I believe we could see the start of a similar demand-driven economic boom as millions of Americans, newly vaccinated and $1,400 richer, make up for lost time by booking flights and vacations, going on cruises, visiting family out of state and more.

As I shared with you earlier this month, close to $18 trillion sit in Americans’ savings accounts right now—a record amount. Much of this cash is just waiting to be unleased into the U.S. economy.

Things are already heading in the right direction. According to CLSA’s proprietary reopening index, the U.S. saw the biggest weekly gain since the start of the pandemic, up 8%, as the number of new daily infections dropped further. Here in Texas, all COVID-19 restrictions were lifted 100% on Wednesday, right on time for Spring Break.

Weekly U.S. reopening index jumped the most since the start of the pandemic
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