With gains in the market this morning … the Dow appears to have a decent chance of being up for a seventh consecutive session … an impressive 1300 point advance from the end of May. I find this especially interesting amid a report in Daily Shot (source: Richardson GMP) that not only mentions an increase in recession odds put out by the NY and Cleveland Fed … but they supply the very scary headline of “Fed models are starting to flash recession on the horizon!” But, for today at least, investors are ignoring this warning … after all … there are stocks to be bought.
One of the interesting things I saw this morning is the jump … big jump … in job openings in construction. I find this to be concerning. Why? No, it’s not that I worry about the labor shortage as much as I wonder if I might be forced to do some “do it yourself” projects on my own. You see, tools and me don’t seem to mix very well.
I also see a report by John Burns Real Estate Consulting that “among the generations” … an increasing number of baby boomers prefer to rent long term … and the number is as high as 72%. Maybe it is finally time to consider a rental property in Florida.
And would I need a landline in this home? Probably not. In fact, Statista is reporting that “Landlines Phones are a Dying Breed.” I knew this was in decline, but the information I saw this morning was eye-opening. In 2004 it seems that 92.7% of U.S. households had a working landline phone. The number today? 41.7%. Oh my … maybe that Fios Triple Play I have needs to be reviewed. If I cut the cable cord, and get rid of my phone line … wow … I’m a bit scared but it might be time to join the crowd.
On a final point for this morning, I saw a very puzzling/disturbing number in a chart this morning (sometime seeing a chart puts things in better perspective). According to The Economist, the United States spends much more money (by far) on health per person than Japan or Britain, or Canada, or Germany, or Switzerland. But … and this is a big statement … the life expectancy, at birth, of these nations far exceeds that of the U.S.
This is quite disturbing and you have to wonder if our economic success has resulted in our cutting corners … so we can eat fast … and get back to our jobs or video games … or whatever else we were doing … calories and exercise be damned.
I’ll end it here as I have to run.
It’s nearly lunchtime and I simply have to beat the crowd … none of whom seem to pack their own lunch anymore.
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 11:24 AM today …
Quick Look at the News
One of the ramifications of a growing economy is energy demand. This, combined with weather that is called "erratic" in this article finds climate improvement goals difficult to meet (CNBC)https://www.cnbc.com/2019/06/11/reuters-america-erratic-weather-boosts-energy-demand-denting-climate-goals-bp.html
... but will there be a renewed push for nuclear energy? Maybe ... as the waste is not as dangerous it once was. How was this accomplished? By reclassifying it. What? (USNews)https://www.usnews.com/news/national-news/articles/2019-06-10/energy-department-plan-to-reclassify-radioactive-nuclear-waste-spurs-anger
If you think it is only teenage boys that play video games, you might want to put this stereotype aside. Women are adopting these games in big numbers (USAToday)https://www.usatoday.com/story/tech/columnist/2019/06/11/more-women-play-video-games-now-than-teen-boys-busting-stereotypes/1414430001/
Is it the wealth gap that separates Americans? Well ... to a degree ... but a major component that is directly related are job skills (Fortune)http://fortune.com/2019/06/11/ibm-ceo-ginni-rometty/
... and one area that could help those on the lower end of the economic rung ... is internet access as some still don't have access in their homes (NYPost)https://nypost.com/2019/06/10/homework-gap-shows-millions-of-students-lack-home-internet/
Do you sleep in front of the TV? Surprisingly, this could lead to weight gain ... as the light emitted could affect your metabolism. Oh, and snacks on the way to bed don't help either (NBC)https://www.nbcnews.com/health/womens-health/sleeping-tv-may-lead-weight-gain-study-suggests-n1015816
... and one beer company might have found a way to reduce plastic use ... utilizing glue instead of plastic to hold cans together. A logical solution that more might want to adopt (GreenMatters)https://www.greenmatters.com/p/carlsberg-beer-snap-packs-glue