Today, Dennis Gartman is in New York City doing a multitude of different things as he appears on CNBC and speaks with the New York Bond Club.
It appears a trip to the Big Apple got him thinking of the economy and how it has been performing in recent months. He lends us an anecdote, telling a tale of waiting in a long cab line at LaGuardia airport, observing increasing hotel room occupancy rates, and noticing more “Help Wanted” signs on stores around the country.
In other words, the economy is improving and quite well. We are returning to a state of normalcy as Dennis Gartman watches New York’s streets become more “materially crowded,” whatever that means. Perhaps he is referring to the increasing amount of tourism that has picked up, which in turn means more bus/train/airline companies taking in more money. And with the Dow approaching 11,000, we may finally be exiting the recession for good soon.
Gartman notes that “the economy is clearly turning sharply for the better, and the data in the next several months shall prove that to be true.” We certainly hope so.
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