The Closing Look

On Monday, stocks slid as oil jumped nearly 3% and bounced from oversold levels. Oil bounced after rumors spread that OPEC members are talking about freezing production. Remember, the last time that happened, was in mid-February and oil surged – even though OPEC never freezed production. Technically, oil is just bouncing from deeply oversold levels. Economic data remains light all week. July retail sales will be released Friday.

Gary’s Thoughts: Quiet day in the market. That is good news after a move up. Nothing distinguished on Monday. More importantly, loved Ttump tax plan. Very simple. He wants you to keep more of your hard earned money. Remember, regardless of what government wants you to believe…IT IS YOUR MONEY THAT GIVES GOVERNMENT A PULSE, NOT THE OTHER WAY AROUND. Government doesn’t GIVE you money. You give government your money. It is government that has failed us with $20 trillion of debt. That is the next 6 years of taxpayer dollars ALREADY SPENT. That is a farce. That is a sin. It should be a criminal act as the money will never ever be paid down. Miss Hillary has the complete opposite thought. She believes you do not send enough. She believes government should have more control thus needs more of your money. We have news for you. IT IS GOVERNMENT THAT STANDS IN THE WAY OF STRONG GROWTH AS DEBT SLOWS GROWTH. THE SIZE OF GOVERNMENT SLOWS GROWTH. This is going on throughout the globe. WHY DO YOU THINK THEY HAVE TO KEEP RATES AT 0% AND EVEN NEGATIVE AND ALSO PRINT TRILLIONS? Government is not efficient. Government is not effective. Government does not care about profits or losses because it is not their money. Just ask why the VA spent $408 million on solar panels that are not operable and have massive delays while not taking care of the veterans. We think government has a place…just not at $4 trillion each year. Just remember, the last year of Clinton (Bill) presidency had government spend $1.8 trillion. How did we get near $4 trillion and where the hell is all the money going? Good question!