Rhiannon Hoyle of The Wall Street Journal reports Beijing’s review of its duties on Australian wine imports is expected to take five months. She writes: Australia—Australia will suspend a dispute with China before the World Trade Organization over antidumping duties on Australian wine after Beijing agreed to an expedited review of the measures, another sign of improving ties between the two countries. Beijing’s review of its duties on Australian wine imports is expected to take five months and Canberra will resume its dispute at the WTO if the duties aren’t removed at the end of the … [Read more...]
Archives for October 2023
Life: When Others Resent You for Your Success
Let’s not beat around the bush. I’m Your Survival Guy, not Your Get Rich Quick Guy. I’m interested in helping the highly successful, fairly wealthy among you get through tough times with the peace of mind you deserve. My focus is mostly on navigating Your Retirement Life, the times when you want to enjoy your life’s work; living off your savings, not draining the bank, and doing what you have always wanted to do. Ahhh, the savings. I can’t do that part for you. That’s the heavy lifting that’s up to you. The showing up every day and getting the job done. Because the act of saving is just … [Read more...]
High Rates Squeezing Home Sales
Nicole Friedman of The Wall Street Journal report home sales fell in September to the lowest rate in 13 years, showing the corner of the economy most weakened by high-interest rates and remains in decline. She writes: For all of 2023, sales of previously owned homes are on track to be the lowest since at least 2011, because increased rates are weighing on demand. But high rates are also limiting the inventory of homes on the market, because homeowners with low rates are unwilling to sell and move. The small supply is pushing home prices higher in much of the U.S. Existing home sales, … [Read more...]
Troubling Signs from U.S. Freight Carriers
Dean Seal of The Wall Street Journal reports that Union Pacific railroad beat expectations on earnings but signaled dimming strength in industrial, intermodal businesses. He writes: Union Pacific’s profit fell 19% in the third quarter to $1.5 billion, beating expectations, while the company reported declining freight rail volumes and revenue across key industrial commodities. Earnings slid to $2.51 a share from $3.05 a share in the year-ago quarter. Analysts polled by FactSet had been expecting $2.41 a share. Overall quarterly revenue at $5.94 billion was down 10% from $6.57 billion … [Read more...]
Investing Habits of the Fairly Wealthy: #7 “C-“
A lesson in investing: It’s a lot like high school. There’s ups and downs. It can be an emotional roller coaster. But if you own your bonds and stocks outright and hang in there, then there’s a graduation date—your bonds mature, you collect dividends, and you move on to the next step in life. As if it were that easy. It’s not easy. One spring Friday afternoon of my high school freshman year, Your Survival Guy got off the bus looking forward to the weekend only to find my dad at his desk looking over my report card. “What’s going on at school?” he asked. “Not much,” I said. “I … [Read more...]
Chinese and Russian Leaders Celebrate Trillion-Dollar Belt and Road
Brian Spegele and Wenxin Fan of The Wall Street Journal, write that Xi and Putin are doubling down on the path to a new world order. They write: With one war raging in Ukraine and another unfolding in the Middle East, Chinese leader Xi Jinping is promoting his signature foreign-policy project as a force for unity, cooperation and prosperity around the globe. At a summit convened to celebrate the Belt and Road Initiative, a crucial building block in China’s rivalry with the West, the picture looked more fractured. The prominence given to Russian President Vladimir Putin at the … [Read more...]
U.S. Economy Exhibits “Stable” to “Slightly Weaker” Growth in Early Fall
Jeffry Bartash of MarketWatch writes Beige Book sees a ‘slightly weaker’ U.S. economy — and easing inflation. He writes: The U.S. economy exhibited “stable” to “slightly weaker” growth in the early fall, a Federal Reserve survey found, helping to loosen up a tight labor market and ease inflation. The Fed’s regular survey of the economy, known as the Beige Book, covered the six weeks leading up to Oct 6. It was prepared ahead of the Fed’s next meeting on Oct 31-Nov. 1. “This report should give the doves … some additional ammunition in their arguments for the Fed to pause their rate hikes … [Read more...]
“The Hard Thing About Getting Older Is Everything…”
You know, investing is a lot like high school, especially when it comes to bonds. When you buy a bond, for example, you’re making an investment at a specific point in time with a set graduation date. If you hang in there, have patience, and don’t get kicked out, you graduate. But nothing’s guaranteed. Your Survival Guy’s a big believer in the tough love of compounding experiences. Doing the work. Gaining knowledge. Learning the hard way, sometimes, having a little luck by just showing up. And somehow getting by. That’s a lot of what high school and bond investing are both … [Read more...]
China’s Economy Faces a Daunting List of Headwinds
Jason Douglas of The Wall Street Journal explains that China’s economy will get a boost from stimulus, but its headwinds will grow. He writes: China’s economy slowed in the third quarter as the drag from a shrinking property sector weighed on growth, but strengthening retail sales suggest it is emerging from a soft patch as stimulus measures start to kick in. Still, China’s economy is likely to struggle for a while yet, economists say. Real estate remains a major risk, with home sales crumbling and developers China Evergrande Group and Country Garden struggling with heavy debts. Consumer … [Read more...]
While Missiles Fly, Flights Land: How Israel’s Airport Stays Open
https://youtu.be/-0t67OqyzL4?si=ZbeEBC6vIy-QY1I_ Despite its proxitiy to a war zone, Israel's Ben Gurion Airport remains open, allowing passenger and freight flights to operate through the sites. In a video report, the WSJ’s George Downs speaks with experts about the risks and explores the tactics Israel is deploying to continue to allow planes to take off and land in the country. … [Read more...]