(Source: Imgflip)
A lot of investors think we're in a bubble right now and it's not hard to see why.
Despite some blockbuster retail sales growth in May, the Weekly Economic Index, which tracks 10 daily/weekly economic reports (including retail sales), has struggled to bounce back from its April -48% GDP growth estimate (annualized, which is how the figure is always reported).
(Source: NY Fed, Dallas Fed, Harvard)
In fact, the WEI, which is updated every Tuesday and Thursday, is currently estimating the economy is growing at -43%, slightly better than the -48% bottom hit