Good morning. When you mention seismic activity, investors are not immediately thinking about the earthquake that took place yesterday in Russia … instead they are looking at the U.S. economy where numbers are showing quite an improvement over what was reported for the first quarter of the year. Not only did private employment add a greater number of jobs than expected, but GDP for the May-July period left many forecasters in the dust … showing a sharp rebound following an early-year decline. Optimists feel this to be a sure sign that the “tariffs are working” and it is clear sailing from here … while pessimists claim the playing field has changed … imported goods were advanced in anticipation of a slowdown … and the game is far from over. And the Fed? Expect fireworks this afternoon following the FOMC meeting … for if rates are held constant … as expected … shouts of “off with his head” … directed toward Jay Powell … will no doubt be shouted from the halls of the White House sometime this afternoon. The EPA (Environmental Protection Agency) is doing something interesting, as a plan was announced to repeal gas emissions regulation for motor vehicles … giving the opinion that regulation is more of a threat to people than carbon dioxide … for … after all … such regulations “… lead to higher prices and restrict people’s choices”. Older readers will remember the smog photos of Los Angeles in the 70s and the haze often seen over the skies of New York on many an afternoon. Ah, for the good old days! I am already in a cynical mood (if you can’t tell) when it comes to utilities at the moment. I mentioned a downed electrical wire at my house a few weeks ago … well, it’s been 19 days that this wire has been hanging across my yard … held onto the telephone pole by a rope … and calls to the emergency number of the power company … four so far after I worked through the automated system and actually spoke with someone … continue to inform me a technician will soon be on the scene. Meanwhile, I’ve been told to stay clear of the wire as it could be dangerous. Thanks. I’ll try to remember not to touch it. I read another bit of news related to intervention this morning as scientists … using methods of cross-breeding … as disgusting as it sounds … actually created a dolphin that had small legs … to try to help it survive if fins are damaged. PETA got involved and insisted the legs be removed … and the government agreed … but wouldn’t that de-feet the porpoise? Have a great day, Joseph G. Witthohn, CFA Have any questions? Please contact info@teamemerald.com
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