Reality Check

So many reports coming in from financials, tech, defense and most other sectors are starting with the words "record sales and earnings." That's what happens in a boom. Realistically speaking, we are in a boom.

Nothing drives me crazier than when people point to the current state of the economy and lament it as anything less than a boom. That's not to say that all segments of the society benefit equally (or, in some cases, at all) from the ongoing boom. Certainly, everyone doesn't benefit all at once or in some sort of easily quantifiable manner.

But a boom is a boom.

See, trading is hard enough without ignoring reality. And that's exactly what all of those permabears and otherwise fear-mongering pundits and traders have been doing. Whether for decades, years or months, they've been choosing to ignore reality.

Instead, they parse the macro and microeconomic data for any little validation of their wrong views. They point to the supposedly slow job growth during the past few years -- even as unemployment is at historic lows, not just for this economy, but for any economy. More than 95% of those of us who want a job have one. Think about that! They point to oil's spike to $75 as a death knell for the consumer. Oh wait, that was why they wanted us to sell last year.

The permabear faction and many other whiners seem to want to nail the turning point in the boom, even as they refuse to acknowledge the boom's reality. The incessant fundamental conflict of trying to find a specific turning point in something they don't even think exists has and will continue to cloud their approach, their trades and their commentary. How will they recognize when the consumer finally does collapse when they don't even believe that the consumer has been healthy during the past quarter-century?

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Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.