Earnings season is kicking off here in the US, but before I start reviewing some of the major earnings results, I want to discuss a bit of anecdotal evidence...

Earnings season is kicking off here in the US, but before I start reviewing some of the major earnings results, I want to discuss a bit of anecdotal evidence of the economic recovery. This past week, I was able to take a road trip to San Diego, California to visit the beach with my family. It's the summer travel season, which would normally imply lots of drivers, full hotels, and crowded beaches - and that's exactly what I saw. Despite somewhat higher gas prices and a tepid economic recovery, it looks to me like Americans are spending plenty of money on travel. San Diego beaches are a top destination spot in the US and I saw no evidence of cautionary spending. The hotels, restaurants, shops, and beaches were all packed full of visitors. It's anecdotal, but from my perspective, Americans look ready to spend.