What a difference a few days seem to make. While the circus continues in Washington (um … doesn’t it always?) … I heard a pretty astute comment on Bloomberg radio yesterday by Jonathan Galub of RBC who asked if there is a change in leadership in Washington … whether we would be buying fewer iPhones or spending less money on “things.” He pointed out the economy is in full recovery mode and few people (if any) will change behavior even if there is disruption in the political landscape.
By the way, stocks are up early today … as they were yesterday … as many investors might be coming around to Mr. Galub’s way of thinking.
How can you not like a king who enjoys having fun? King Willem-Alexander of the Netherlands has just revealed that he has been a co-pilot for KLM Airlines for the last 21 years … continuing even after he gained the throne in 2013 (and is now training to fly a larger plane). In our country, our leader is not even allowed to drive a car. Drive us crazy? Yes. But driving an automobile is strictly forbidden.
Meanwhile, a little closer to the ground, it appears that Tesla has been trying hard to ramp up production … and employees are feeling the stress. A report claims that there have been more than 100 instances where ambulances had to be called for workers fainting on the job.
I went to the local Tesla dealer and looked over their awesome car. Then I saw the invoice.
I felt a little like fainting myself.
On a final note (and the last link below) OECD produced an “obesity update” and the news is quite concerning. The leading country for obesity is the United States where, in a recent study, 38.2% of adults are considered obese. It also appears that around 20% of our kids are also equally afflicted. Maybe even more disturbing, the projected rate of obesity in the U.S. will be around 47% in the next 13 years.
When it comes to overeating, one thing seems quite certain indeed.
Americans really do take the cake.
Have a great day.
Joseph G. Witthohn, CFA
Emerald Asset Management
610 Freedom Business Center Drive
King of Prussia, PA 19406
(610) 337-9230 ext. 6
… as of 10:18 AM EDT …
Quick Look at the News
Tesla employees are trying hard to meet production goals ... and some may be trying a bit too hard as reports claim quite a few are passing out from the work load (IBT)http://www.ibtimes.com/tesla-working-conditions-employees-passing-out-factory-meet-production-goals-report-2540973
Uber is a relatively simple concept ... look for a driver in your area ... and pay to catch a ride. But this may soon be expanding to trucking ... interesting and makes perfect sense (CNET)https://www.cnet.com/roadshow/news/uber-freight-brings-ride-hailing-to-commercial-trucking/
... although the trucking industry is taking advantage of new technology in another way ... and things are certainly picking up. Actually, trash trucks might soon be driverless ... driving backwards through your streets (CNN)http://money.cnn.com/2017/05/18/technology/volvo-garbage-truck/index.html?iid=ob_homepage_tech_pool
It is common knowledge that we have a ballooning problem with student debt. Some planned to pay this off (or have it forgiven) by doing public service. Sadly (for them) things might soon change (CNN)http://money.cnn.com/2017/05/18/pf/college/betsy-devos-public-service-loan-forgiveness/index.html
... but you have to wonder how aggressive we need to be when trying to "chase down" those who are late in paying back student loans. It seems the cost to collect is a bit out of control (Bloomberg)https://www.bloomberg.com/news/articles/2017-05-19/americans-are-paying-38-to-collect-1-of-student-debt
Guess who is changing jobs? The King of the Netherlands. No, he is not abdicating his throne ... he has been secretly co-piloting planes for years and is now training to handle a larger plane (Bloomberg)https://www.bloomberg.com/news/articles/2017-05-18/come-fly-with-me-dutch-king-was-guest-pilot-for-21-years
Want to lose weight? Have most of your calories earlier in the day ... at least that is the thinking behind yet another new trend. Steak for breakfast? Sounds like a sure winner to me (CNN)http://www.cnn.com/2017/05/19/health/weight-loss-circadian-rhythms-drayer/index.html
... but something has to be done. In a very sorry and pretty detailed report the OECD (Organization for Economic Co-development and Development) talks of obesity and the U.S. is high on the list (OECD)http://www.oecd.org/health/health-systems/Obesity-Update-2017.pdf