The “IT” Factor

A little over a year ago, just before COVID-19 was coming into focus, the economy and stock market seemed to have the “IT” factor.  The global economy was improving, trending toward synchronous growth.  Unemployment rates, inflation levels, interest rates and taxes were historically low – at least by modern standards.  By most measures, the early 2020 economy and stock market could do no wrong.  They had a certain je ne sais quoi that was hard to put a finger on, but it was undeniably working…you could say it had the IT factor.