America's economy has been roaring, but with the midterm election tomorrow, the direction of regulation and tax policies could change drastically. Here, according to The Wall Street Journal are the areas with the most at stake in tomorrow's election: TAXES: The Trump administration wants to make permanent new income tax cuts for individuals passed last year, a move that Wall Street analysts say could bolster consumer confidence and lift prospects for retailers, auto makers, tech firms and other consumer-goods companies. But the White House will need Republicans to retain control of … [Read more...]
Law & Order coming to Brazil
Brazil’s president-elect picked Sergio Moro, an anti-corruption judge to be justice minister, a signal the nation will step up its battle against graft, but fueling criticism of the judiciary from opponents. The WSJ reports: The appointment of the widely-respected judge as minister is considered by legal experts to be a stamp of approval for the future government of Mr. Bolsonaro, who swept to victory Sunday with his promise to restore law and order. But the move has also fueled criticism of partisanship in the country’s vast Car Wash corruption investigation that Mr. Moro helped lead, … [Read more...]
Trump Powers Manufacturing Jobs
The Editors at Investor's Business Daily call it "The Deplorables Boom." President Trump's policies have helped create over 445,000 manufacturing jobs since he entered office. Let's look at the numbers. Since Trump gained office, 4.4 million new jobs have been created. A big slice of that came from manufacturing. We were assured by any number of experts in recent years that manufacturing was "dead." But in October some 32,000 new manufacturing jobs were created, for a total of 446,000 since Trump took office. Boom Times For Factories If you're a factory worker, these are the best times in … [Read more...]
Jobs, Jobs, and More Jobs
On the campaign trail recently President Trump touted a new slogan, Jobs not Mobs, and he has delivered. Today's Employment Situation Report from the Bureau of Labor Statistics detailed October's strong gain of 250,000 jobs. Unemployment remains at 3.7%, matching the lowest rates since 1969. Combined with strong wage increases reported earlier this week, the strong job report has set stock futures rising. You can read the full BLS report below. [pdf-embedder url="https://www.yoursurvivalguy.com/wp-content/uploads/2018/11/empsit.pdf"] Originally posted on Yoursurvivalguy.com. … [Read more...]
Paul Volcker Explains the Folly of a 2% Inflation Target
Writing in Bloomberg, "Tall Paul" Volcker, who as Chairman of the Federal Reserve in the 1980s near singlehandedly tamed America's rampant inflation, explains why a 2% inflation target is dangerous. He writes: In 1996, Federal Reserve Chairman Alan Greenspan had an exchange with Janet Yellen, then a member of the Fed’s Board of Governors, that presaged a major — and, I think, ill-advised — change in the central bank’s approach to managing the economy. Yellen asked Greenspan: “How do you define price stability?” He gave what I see as the only sensible answer: “That state in which expected … [Read more...]
U.S. is #1: World’s Most Competitive Economy
For the first time in a decade the U.S. is the world’s most competitive economy. That according to the World Economic Forum rankings. Thank you President Trump. And the good news is, there’s room for improvement. I can tell you from my conversations with investors that Trump has brought a new level of energy, an energy that was missing in the Obama years. And, finally, the misguided zero percent interest rate policy—a brutal time for savers as their life savings earned nothing as it was given away for free to Wall Street—may be behind us. Which leads me to believe that this is a … [Read more...]
Higher Rates Help Banks
Higher interest rates and a steepening yield curve, driven by strong economic growth and a winding down of global central bank stimulus are helping banks. Interest margins are expanding at some of the nation’s biggest banks as interest rates on loans rise faster than the interest cost of deposits. So long as higher interest rates don’t dent loan demand, a rising interest rate environment can be positive for the banking industry. The WSJ has more. Finally, there was no sign anywhere that consumers or businesses are having trouble staying current on their loans. Both JPMorgan and Wells Fargo … [Read more...]
This Harvard Professor Thinks a Recession Might Be Coming
Harvard economics professor, Martin Feldstein, who presciently said the U.S. may be in recession back in March of 2008, is again warning that a recession may be looming. He writes at The Wall Street Journal: The principal risk now is that a stock-market slowdown could shrink consumer spending enough to push the economy into recession. Share prices are high today because long-term interest rates are extremely low. Today the interest rate on 10-year Treasury notes is less than 3%, meaning the inflation-adjusted yield on those bonds is close to zero. The hunt for higher yields drives investors … [Read more...]
Government Inflation Measures Miss the Mark
The CPI Inflation numbers for September came in below economist estimates. A big driver of the miss was a drop in used car prices which fell 3% in September vs. the prior month. That matched the biggest drops on record for used car prices, but did used car prices really plunge 3% in the face of a booming economy? Not likely according to Manheim Consulting’s used Vehicle Value Index which hit a record for the third consecutive month in September. As is typical with many of the prices the government reports in the CPI, the reality on the ground tells a different story than is being … [Read more...]
Trump Powers Economy into the Mid-Term Elections
As November approaches, and voters begin to make their decisions about who they will vote for on Election Day, the economy is roaring hotter than it has in a long time. Confidence is soaring, profits are up, jobless claims are down, unemployment is down, and industrial production is up. These among other indicators show the economic strength the Trump administration has generated with its business-friendly governing style. … [Read more...]
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