The turmoil in Hong Kong continues to worry investors, as protesters shut down the airport for the second straight day. But China has, so far, not intervened to any large extent … which some see as a good thing … feeling that such a move might only fan the flames.
China, of course, has a lot on its plate at the moment. The trade war with the United States is viewed to be hurting their economy … but it seems the claim that they are the ones paying for the tariffs might only have a partial ring of truth. According to Nielsen, prices of goods at the retail level in the U.S. are rising and Gordon Haskett Research Advisors reports that a basket of goods (put together so a comparison of similar items can be made) at both Target and Wal-Mart is up quite a bit over the past year. Yes, it appears the American consumer is sharing in price increases attributed to this trade skirmish. Great! Just in time for the start of back-to-school shopping!
There are some positive things though … so the news is not all bad.
First of all … on a serious and important front … Statista is reporting that the drug overdose rate in the U.S. has fallen for the first time in 20 years! It is still out of control … almost double of what it was 10 years ago … but a reduction in this “epidemic” is a welcome sign indeed.
Some will also be quite excited with our news (stories below) from both Hooters and Olive Garden … and understandably so!
Hooters is offering … through September 9th … unlimited wings! That’s right … for less than $16 you can have your own “wing bowl” at their restaurant … devouring as many of these tasty creatures as you can stand (which you might not be able to do afterwards). But as a dietary warning, of course … remember to keep your hands off of the buns.
But that is not the only gluttonous tale to tell this morning.
Olive Garden is not only bringing back it’s unlimited-for-two-month pasta promotion, but they are expanding it so a few lucky people can have unlimited pasta … forever.
That’s right … plate upon plate of unlimited pasta for the rest of your life.
… however short that might end up being.
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 8:04 AM today …
Quick Look at the News
Goldman Sachs joined a growing chorus of those giving the opinion that the trade war could supply the spark that fans the flames of recession (NBCNews)https://www.nbcnews.com/business/economy/trump-s-trade-war-could-spark-recession-warns-goldman-sachs-n1041501
... but keep in mind that if we need support, the government can just print money. You think it can't be done? It might already be happening (TheEpochTimes)https://www.theepochtimes.com/budget-deal-casts-doubt-if-congress-will-ever-control-federal-spending_3039338.html
Some farmers were worried about the price of soybeans dropping, so they switched to corn. So yesterday's sharp, unexpected, drop in corn prices really hit some hard (CNBC)https://www.cnbc.com/2019/08/12/corn-futures-fall-after-usda-forecasts-bigger-than-expected-us-crop.html
Kids not answering your texts? With this app, they might be forced to ... as it locks their phone until mom or dad are answered (TheEpochTimes)https://www.theepochtimes.com/dad-creates-genius-app-to-freeze-kids-phones-until-they-reply-to-parents-texts_3032876.html
If you are counting carbs, you might need an abacus. Olive Garden is expanding its unlimited pasta promotion to one where you can eat their pasta ... forever! Yum! (USAToday)https://www.usatoday.com/story/money/food/2019/08/12/olive-garden-pasta-pass-2019-lifetime-unlimited-pasta/1992268001/
... but if it is wings you prefer ... you might want to head over the Hooters. All-you-can-eat wings are now offered through September. Great for wing lovers. Bad for health nuts (Delish)https://www.delish.com/food-news/a28661206/hooters-all-you-can-eat-wings-august-september-2019/
"Yes, we have no bananas" might one day be more than a song ... as a fungus, warned about for years, appears as if it will continue to decimate this important fruit (NationalGeographic)https://www.nationalgeographic.com/environment/2019/08/banana-fungus-latin-america-threatening-future/