HEADING INTO THE WEEKEND/ ELIZABETH WARREN STAND UP COMEDY
Heading into the weekend…a reminder:
The big 4 indices are entering new high ground.
We now enter the usually seasonally strong November and December.
Our economy, while having some issues, continues to show strength, especially with the consumer and employment figures.
With all this, one would think central banks would be looking out for some tightening. Instead:
The European Central Bank starts more money printing today. They had promised to stop. The following countries are all easing. Some are lowering rates even though their rates are already negative.
Australia
Brazil
China
Denmark
Europe
England
Hong Kong
India
Indonesia
Japan
Korea
Mexico
Philippines
Russia
South Africa
Turkey
Thailand
On top of all this, Jay Powell lied to the American public as he started a massive round of QE on top of lowering rates for the 3rd time. You know, “QE BUT DON’T CALL IT QE!” President Trump, instead of ripping him, should be kissing him where the sun doesn’t shine as markets have loved easier money, especially the printing of money since the lows of 09. Do recall Bernanke started all his QE because the economy was in a financial meltdown. Jay Powell has no excuse except he is showing exactly who he is…another in a long list of easy money dolts.
Just letting you know this is all one hell of a combination as we head into the end of the year. With tons of cash on the sideline and tons of doubt, we leave nothing out of the question if the market wants again to take flight. But of course, we measure price first and everything else second.
And, stand-up comedian and self-proclaimed capitalist Elizabeth Warren just released a $52 trillion “medicare for all” plan. On top of that, in a video that will be played several million times if she wins the primary, she stated flippantly that 2 million+ people will lose their jobs because of her plan. We will have our response in an op-ed over the weekend. We cannot help ourselves.
Don’t worry about the 2 million people that will lose their jobs. They will all get hired back to work to administer the expanded Medicare for All. And, since all government workers get two and 1/2 weeks of annual leave with less than 3 years of service and an entire month after 3 years of service, they will need to hire even more.