World’s Top Equity Firm Notes U.S. As The Safest Place For Your Money During Russia-Ukraine War!
As per Joseph Zilde of Blackstone Inc., an American alternative investment management company, the U.S. is the safest place for people's money due to the nation being insulated from the fallout from the Russian and Ukrainian war.
"The U.S. is an island of growth. The U.S. is one of the only major economies in the world that has this cushion of $6 trillion in stimulus," Joseph Zilde, Blackstone Inc.'s chief investment strategist, revealed to CNBC's "Fast Money".
Joseph Zidle went on to add that the benefits are coming from corporate balance sheets and households. This means that the U.S. has a huge cushion for growth as the rest of the world faces an upcoming impedance of progress.
Evidently, Wall Street could be backing Blackstone Inc.'s chief investment strategist as stocks staged a massive turnaround during the final hour of trading. Notably, the Dow, S&P 500 and Nasdaq went on to finish on a positive note.
Joseph Zidle also acknowledged rising input prices which are connected to commodities to coordinated central bank hikes remain risk as well. However, the tough labor market is giving the U.S. a huge advantage, as per Joseph Zidle.
This is one of the main reasons why Joseph Zidle is a long-term investor in housing, a group that has gotten swept up in the selling. Adding to this, the SPDR S&P Homebuilders ETF, which follows the industry, is off 21 percent so far this 2022.
Joseph Zidle further explained, "Personal income has gone up more than the increase in the mortgage rates. It's important to consider. The strong labor markets and rising wages. And, historically housing ends up being more correlated to labor than it is to mortgage rates."
Joseph Zidle is also expecting job security and rising home values to enhance the stocks of consumers.
Blackstone Inc.'s chief investment strategist ultimately added that the consumer has got a lot of issues that they're facing in terms of these higher input prices and there are a lot of different things competing for wallet share.
"But I think a strong labor market can end up offsetting a lot of that," Joseph Zidle concluded.