Category Archives: stock market
The Dow hit another record high yesterday. Unemployment is at a record low. Though The Hill says the 4.1% rate is more like 8% when you include the underemployed. At any rate over half of those polled by CNBC rated the economy as “good” or “excellent.
Yet life expectancy declined in the U.S. from 76.3 to 76.1 years for men. The rate for women held steady at 81.1 years. The Washington Post reported that 63,632 people died of overdoses in 2016 and 42,000 of those were from opioids.
National Review’s David French notes that more people died from overdoses last year than in the entire Vietnam war.
This didn’t sit well with President Trump. Trump tweeted that Bannon “lost his mind” when he fired him. The Avenging Donald then sicced his lawyers on Wolff – guaranteeing best seller status for the book .
CNN’s Brian Stetler claims Wolff’s book “suggests Trump is unstable and raises alarms about his fitness for office.”
But CNN also reports that Secretary of State Tillerson, once accused of calling Trump a moron, never questioned the president’s mental health. And the White House deputy press secretary called Wolff a fake news, crackpot fantasy fiction writer.
Wolff agrees! A note in the front of his book says some of his sources definitely lied to him.
Dow Up Bannon Down
Whatever. If it’s stability you want, the Dow steadily rose above the 25,000 mark.
Stock analyst Paul Gambles is terrified about that too.
It’s been a wild ride for bitcoin. According to Cointelegraph.com the crypto coin lost 40% of its value last week. It dropped from $20,078 to $11,833. But was it just a buying opportunity? Bitcoin bounced to $15,147 yesterday. Big Bitcoin Heists
Leonid Bershidsky writes in Bloomberg View that your money is safer in a bank.
And don’t forget your bitcoin pin.
Trump and Bull Get Swamped
But as allegations from unnamed sources rise in the media, President Trump sinks in the swamp. Apparently, so does the stock market. The Dow lost 373 points on Wednesday. The experts say investors worry that if Trump goes down so will his agenda for tax cuts, less regulation, and more growth.
Most experts that is. Wharton professor Jeremy Siegel, says the market could spike 1,000 points if Trump resigns.
Update: Well, as of noon Friday the Bull has clawed back over 200 points of Wednesday’s losses. Maybe I was just looking for an excuse to draw an alligator.
James Fallows, in the October Atlantic, says Jane Goodall told him that Donald Trump reminds her of a chimp:
In many ways the performances of Donald Trump remind me of male chimpanzees and their dominance rituals,” Jane Goodall, the anthropologist, told me shortly before Trump won the GOP nomination. “In order to impress rivals, males seeking to rise in the dominance hierarchy perform spectacular displays: stamping, slapping the ground, dragging branches, throwing rocks. The more vigorous and imaginative the display, the faster the individual is likely to rise in the hierarchy, and the longer he is likely to maintain that position.”
Many 401-k investors are bullish because stocks have hit record highs. But Clinton Foundation investors – not so much.
Well, at least one Clinton supporter has done ok. Warren Buffett’s Berkshire Hathaway is up 8% since the election.