December 2017

2017 Optimism This is my final podcast for 2017.  I just watched the U.S. Stock Market ring the closing bell for the final time in 2017. Everybody is excited; everybody is optimistic.  I spent most of the day watching the financial coverage, mostly on CNBC to see the attitude and the types of coverage the […]

Trump’s Economy Today President Trump signed into law the Tax Cuts and Jobs Act.  The biggest problem that the President will have with these tax cuts is that he now owns the economy.  That is going to be a big problem, because this is now Trump’s economy. This is now the Republican economy. It’s All

Calling Tax Cuts Reform is Fake News Earlier today the House of Representatives passed the Tax Cut Bill.  Of course, the Media keeps referring to it as “Tax Reform”.  That’s fake news, for you, calling these tax cuts reform is a perfect example of fake news.  Donald Trump is not going to complain about this

Everybody Joins the Party All 3 of the major U.S stock indexes closed out the week at new record highs as it became apparent that the new tax cut deal was pretty much done. Marco Rubio, who had been a hold-out, caved and even Corker, the one Republican who was going to vote against the

Expected Rate Hike Today the Federal Reserve did exactly what everybody expected them to do, they once again raised interest rates by just one quarter of one percent.  This is the third rate hike of the year; this is the fourth rate hike since Donald Trump was elected President and the fifth time the Fed

Bitcoin Week I’m going to devote today’s podcast to bitcoin; I might as well just talk about bitcoin because that’s all anybody else is talking about.  On CNBC that’s pretty much all they are talking about; they said it is “BitCoin Week”.  It sure sounds like it.  I think they should just rename the network: Crypto

A Nonfarm Payroll Beat Today the labor department released the November jobs report –  Nonfarm Payroll –  of course Wall Street always highly anticipates this number; all the politicians, Donald Trump was ready to tweet as soon as the data was released.  The expectation was for 190,000 jobs and we beat, with 228,000 jobs. An

Trade Deficit Moving Higher as Economy Slows Down Yesterday we got the release of the October monthly Trade Deficit and we got a trade deficit of $48.7 billion dollars.  That was a little bit North of the $47.4 billion expected in the consensus forecast.  In fact, the prior month, which was $43.5 billion was revised upwards to

Market Rallies on News of Passing Tax Cuts Act Late Friday night, or I guess early Saturday morning, the Senate passed its version of the Tax Cuts and Jobs Act.  Last week the market, as it became more apparent that the Senate was in fact going to pass the bill, the market was rallying, and