Yesterday’s rise in U.S. markets does not appear as if it will carry over into today’s session as the President made some comments related to the upcoming announced tariffs with regard to Chinese-manufactured goods. In an interview with The Wall Street Journal, he classified delay to be “highly unlikely” … although some wonder if it a negotiating tactic in advance of his meeting with Chinese President Xi Jinping later this week at the G20 Summit.
We certainly hope so … as one study (in the third article below) concludes that it might cost American households $2,400 each in the next year (and a much higher figure after that). Of course, you might shrug your shoulders and deduce that this is a warning put out by some “on the left” … but it is a claim by Koch Industries … well known for having conservative views … though that group has gone public with their disdain for the tariffs and there might be a bit of bias in their assertion.
Speaking of reports … recent comments from the White House with regard to climate change … and its toll on both the economy and lives … are rather alarming. But we really shouldn’t worry … as the President claims the 300 scientists who took part in providing this conclusion are just plain wrong.
On a separate issue … one disturbing bit of news comes from China where a claim is made that “gene-edited” twins were born. Even the scientific community there is up-in-arms over the claim as the view is that once this Pandora’s Box is opened individuals … or countries … might start to try to “create” babies … with only “desirable” characteristics. Remember “Dolly the Sheep” that was cloned back in the late 90s? While her life expectancy was around 11 years, she was euthanized before reaching the age of 7 years old … due to some medical issues.
And on a final note for today … we landed a probe on Mars yesterday … and many are claiming it possible we will send a man there one day.
To that point, Elon Musk announced that he is quite willing to go … and gives himself a 70% chance of accomplishing this.
I am sure that quite a few of his investors are designing a “Go Fund Me” page right now.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
… as of 8:49 AM today …
Quick Look at the News
The report ... coming from the White House ... was alarming ... as the claim is that climate change will be quite costly indeed ... but though his office initiated the report the President claims it incorrect (CNN)https://www.cnn.com/2018/11/23/health/climate-change-report-bn/index.html
... but we have enough to worry about in the near term ... as there are tariffs to worry about ... but is this simply being used as a bargaining chip? (BBC)https://www.bbc.com/news/business-46353445
... many hope so ... because ... at the end of the day ... it is the consumer that might end up paying for the tariffs ... at least according to this study (CNBC)https://www.cnbc.com/2018/11/26/tariffs-could-cost-american-households-2400-each-in-2019-study.html
While there are many advances in science in recent years ... one pressing one could be figuring out how to reduce dementia. Is a vaccine the answer? There certainly is hope (USAToday)https://www.usatoday.com/story/tech/science/2018/11/24/alzheimers-vaccine-aims-cut-dementia-half-may-see-human-trials/2097609002/
... but not all gains in the understanding of science are viewed positively. Rumors of gene-edited babies are setting off alarm bells all over the world (TheGuardian)https://www.theguardian.com/world/2018/nov/27/china-orders-inquiry-into-worlds-first-gene-edited-babies
Did you miss out on Black Friday or Cyber Monday deals? Well, turn that frown upside down ... as there are still plenty of deals still to be had (USAToday)https://www.usatoday.com/story/tech/reviewedcom/2018/11/26/cyber-monday-2018-best-deals-you-can-still-get-after-monday/2066824002/
... and if you find it tough to make a decision ... just turn to Dwight Eisenhower, who set up a matrix to help us decide what is and isn't important ... to help us prioritize (ArtofManliness)https://www.artofmanliness.com/articles/eisenhower-decision-matrix/
While we weren't looking, we landed another spacecraft on Mars. But we might be sending more than robots at some point as people ... including Elon Musk ... might soon travel there (BGR)https://bgr.com/2018/11/27/elon-musk-mars-trip-chances/