QUICK TAKES….

0 comments

Bidenomics is working. Inflation is less than half of what it was 6 months ago. The Prime Rate has been decreased with the commitment by the Federal Reserve Open Market presidents to 3 additional reductions in 2024. Unemployment is consistently low and Unemployment claims are at their lowest levels in many years. The “misery index” measuring inflation in combination with the prime rate is way down–reflecting more money in the pockets of the average worker. Wages are increasing faster than inflation, Gas prices are nearly $2.00/gallon less than 18 months ago. Consumer confidence is up significantly as evidenced by the surge of record holiday sales. The stock markets are good predicters of the confidence of “big money” as investors place their bets. In 2023, these were the investment gains of key indexes: Dow-Jones- up 13.7%; S&P 500- up 24.7%; NASDAQ – up 43.4%; Russell 2000 – up 15.8%. These big bets tell us that the professional investors believe that we are on a prolonged path of prosperity. Don’t let anyone tell you otherwise.

Climate change is a growing concern that basically trumps (no pun intended) all other long term issues. We are seeing no real progress despite all the talk. Global temps continue to rise. Natural disasters are even more common than previously forecast. We are in the 547th consecutive month with temps above the 20th century average. Along with crop growing issues we see a number of major casualty insurance companies either refusing to market homeowners insurance in hurricane-prone areas (Florida, Louisiana, etc.) or substantially raising their premiums making it more difficult to buy a home in those areas. Evidence is everywhere but progress is nowhere. Let’s hope we ask 2024 candidates what their plans are to save our world.

There has never been a more “do-nothing” Congress than the 2023 version. Only 27 bills became law. We can place the blame on either or both parties. But–again–evidence shows that the GOP demolished every strategy for attacking climate change, gay rights, gun laws, abortion access and everything else proposed by the Dems. The worst part of that activity is that the GOP DIDN’T PROPOSE ANY IDEAS TO SOLVE THOSE PROBLEMS. If we want to continue a “part-time” Congress as to results–maybe we should cut everyone’s pay. Maybe getting half their paycheck will encourage more meaningful involvement and the passage of more legislation.

The next time you hear “Made in America” you should immediately harken back to the “good old days” because manufacturing in America is dwindling very fast. Case in point. Nippon Steel ( a Japanese company) has just purchased US Steel. US Steel had been a proud and long-standing anchor of the American Industrial Revolution. It was the backbone of the auto industry, the railroads, all US food processing operations, the construction industry and so many more bread-basket basics. US Steel was so important a generation ago that John Kennedy forbade the steel industry from raising its prices. Such a move would have had a major impact on the prices of almost all of our purchases. Now we are almost totally dependent on foreign steel producers. “Made in America” –not by a long shot any more.

The professional golf association and the battle with the Saudi tour (LIV) escalates. The combination we told you would never work–is not working and never will. The latest defection is the winner the of American Masters tournament of 2023, John Rahm. The LIV tour offered John somewhere between $300 and $500 million to play on their tour. He took it. What fool wouldn’t? He promptly bought a private jet and a home in the Middle East while hiring 10 attendants for his family. Now the American Golf Association, in response and fearing more defections, is significantly increasing its tour prize money. They obviously fear the golf-network-advertiser business model might fail if all the best players opt for the Saudi tour. Question: Why are the Saudi’s investing all this Saudi Wealth Fund money in a sport that will NEVER be profitable in Saudi Arabia? No one has ever asked them what their endgame is? Wouldn’t you like to know?

We believe that a good measure of society is the popularity of certain movies. Said another way, what movies are receiving the most box office sales and what are their themes? The 2023 list is in and it shows that our theatrical tastes are wide-ranging. We favor gay love (ALL OF US STRANGERS), goofy comedies (BARBIE), remakes (POOR THINGS- Pretty Woman and The Color PURPLE) and dramas based on accidental success and the nationwide sale of sneakers. We leave it up to the reader to judge whether this selection is positive/negative/neutral. There certainly seems to be a lot of variety. The only trend we see is a noticeable decline in the number of animated flicks.

Prediction time: WHO WILL THE DONALD PICK AS HIS RUNNING MATE–IF HE STAYS OUT OF JAIL? Ready…Elon Musk. They are cut from the same cloth. Both have money (all of Donald’s is borrowed) and neither have any ethics. If elected they can collaborate on any number of disastrous decisions that will eliminate democracy and the middle class. They will rule the courts and tax the “have-nots” without a shred of remorse. The only problem I see is that both of them want the final word on everything so the evil partnership probably won’t continue for 4 years…it probably won’t last 6 months. But that should be enough for Trump to find a suitable replacement. Wouldn’t you like to see the qualifications he’ll require for the VP position after Musk leaves? (Dare we suggest it might be a woman? Those qualifications could be salacious–knowing Donald and his habits)

Much has been said about Joe Biden and his mental competency. We think it appropriate to call your attention to a recent statement by Mr. Trump who stated that he never took the Presidential Oath of Office. HMMMM… Now that would worry me if I had any possibility of voting for him. And remember that Oath was taken in front of the largest crowd in the history of Inaugurations and a huge TV audience 7 years ago. If he can’t recall what happened 7 years ago–how competent can he be now?