Stocks are relatively flat so far today as representatives in Washington continue to haggle over an increase in the dollar amount of stimulus checks. At the moment it appears unclear if the Senate will even debate any increase on what was agreed upon so far by the House.
Quite a few of us have our eyes on what is going on with the vaccinations. According to Bloomberg, over 2 million Americans have received this so far … but each state is different. If you would like to keep updated the first link below is a “vaccine tracker” that allows you to find more exact and up-to-date information in your specific region.
One of the basic lessons in classes dealing with economics is that if supply is lower than demand, the price of a sought-after good rises. The housing industry definitely paid attention in class as prices are jumping in the face of increasing demand in a world of low inventory. Today’s second link below bears out this claim.
Other items in demand recently … also resulting in price increases … are cryptocurrencies … specifically, Bitcoin. So I found a story that just hit the wires quite interesting as a player for the Carolina Panthers, Russell Okung, is paid $13 million/year to play football. He just made an agreement with the team that half of his pay will be in Bitcoin. While he might do well … this is quite a risk … I think the IRS will insist on cold hard cash for the payroll taxes. And if Bitcoin declines? Well, I hope he has a very good agent.
On a final note for today, the last article below addresses diets … especially in light of the weight gain many are realizing as we sit in our homes, unexercised, waiting for the virus to subside.
I don’t need an article or a scale … I mean … I know I have to go on a diet. And it is not only tightening clothes that give this clue … as sometimes embarrassing situations tell the tale … forcing losing weight to be number one on the list of New Year’s resolutions.
I went to the park yesterday … and just as I bent over to tie my shoe …
… some kid tried to park his bicycle.
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
cell: (856) 625-7915
Quick Look at the News
Just over 2 million Americans have been vaccinated so far … but considering this program just started the pace seems fairly good (Bloomberg)https://teamemerald.us3.list-manage.com/track/click?u=d8f30c0661e25786309ca1217&id=420f22a58c&e=60ab881085
… and people are anxious to get things moving so we can get the economy moving again. But things haven’t slowed in the way of home prices … as limited inventory drives up price (DNYUZ)https://dnyuz.com/2020/12/29/us-home-prices-rise-at-fastest-pace-in-more-than-6-years/
One thing we might see more of in the coming year is drones … but not regular ones that take photos … but delivery drones. Though I wonder if hawks will attack my packages (CNET)https://www.cnet.com/news/ups-amazon-delivery-drones-are-a-step-closer-to-reality-with-new-us-rules/
It stands to reason that we might think … with Covid and all … colleges could be easier to get into. Sadly (for some) that might not be the case at top schools (CNBC)https://teamemerald.us3.list-manage.com/track/click?u=d8f30c0661e25786309ca1217&id=9832097268&e=60ab881085
Meanwhile, as many of us stay at home, snacking has become habitual. But we might unwittingly be shortening our lives (EatThis)https://www.eatthis.com/news-dangerous-foods-shortening-life-science/
… but you get a feeling that once this is over people will realize they’ve put on a bit of weight … which means all sorts of diets will be tried (NYPost)https://nypost.com/2020/12/28/the-diet-industry-is-getting-fat-off-the-pandemic/