In a recent article, Peter Schiff called the ongoing trade war Pres. Trump’s last stand, saying, “it looks to me that Donald Trump … is charging into an economic version of the Little Bighorn.” Proponents of the trade war argue that we need to give Trump’s strategy time to work. They say the tariffs will force the Chinese to bend, and in the end, America will find itself in a much better economic position than it was before.
We can debate whether Trump’s tariffs are a brilliant negotiating tool or an economic disaster, but we shouldn’t ignore the fact that they are causing significant pain. And not just for the Chinese. Ultimately, American consumers are paying the price.
Don’t worry. Nothing to see here!
That was pretty much the message Federal Reserve Chairman Jerome Powell delivered in a speech he gave at the Atlanta Federal Reserve bank conference on May 20.
Powell talked about the high levels of corporate debt. In fact, corporate leverage is at a record level of around 35% of corporate assets. But the Fed chair said it’s not really too big a cause for concern.
Some people have all the luck.
Not me. Well, not good luck. I tell people all the time I could never gamble because I would be broke within weeks. I’m the guy that can jinx the best sports team simply by cheering for them.
There has been significant volatility in US stock markets so far this week. The Dow was down over 470 points Monday morning. Dip-buyers saved the day and the Dow ended up only down 66 points. But then the bottom fell out on Tuesday, with the Dow plunging 473 points.
Tweets by President Trump threatening more tariffs and raising questions about whether China and the US can work out a trade deal sparked this market volatility and the ensuing sell-off.
In his latest podcast, Peter Schiff raises an interesting question: was this by design?
The Federal Reserve has issued another warning about corporate debt.
But the Fed’s concerns seem a bit ironic considering its own easy-money policies have made all of this borrowing possible.
A recent video ad produced by a digital currency asset company titled “Drop Gold” created some waves on social media last week. The ad encourages investors to drop gold from their portfolios and replace it with digital currencies such as Bitcoin. “In a digital world, gold shouldn’t weigh down your portfolio,” the ad proclaims.
But is Bitcoin really a replacement for gold? While the Drop Gold ad may seem clever and cute, cryptocurrencies aren’t a replacement for gold.
I was perusing my local newspaper’s website the other day when I came across this headline – “University of Kentucky to Give iPads to All Incoming Freshman This Fall.”
I have to admit, just seeing the headline kind of annoyed me. Because you know what I got when I started at UK as a freshman in 1985?
Nothing.
I didn’t get squat!
There’s a video going around on Facebook blaming Trump because tax refund amounts are lower this year. I’m telling you, this video takes dumb to a whole new level!
So, what do you think about the Muller report? I think it completely exonerates the president! No, wait. I think it shows he’s absolutely guilty and should be impeached! No, wait…
Actually, I think the whole thing goes to show how people can spin political theater any way they want to, depending on their political proclivities. I don’t really have any political proclivities – at least not when it comes to party politics. I haven’t been following the whole saga, so, I don’t know much about Russiagate at all.
But you know what I do know about? Hockey! And it’s Stanley Cup playoff season!
It’s time for Fun on Friday and I have to be honest — I’m not feeling very fun.
Why?
Because the tax man cometh! And no matter how you slice it, taxation is not a fun subject. It’s no wonder “death” and “taxes” are often mentioned in the same breath.
But April 15 is lurking right around the corner and that means it’s almost tax day.
