Good morning. Markets appear mixed to start the day although jobless claims numbers due out in around 30 minutes’ time could set a different tone for today’s trading. The Federal government is officially “closed” … okay, that is a bit of a reach … but the impasse between political parties could cause some worry among investors if the shutdown is not resolved soon. Those worrying the most? No, it is not the people inconvenienced because their national park might be closed or they are facing longer lines at some agencies … but there is a threat that some jobs “will be lost permanently” … as stories are being written that this closure … no matter how temporary … could be an excuse to clean house a bit … and fire workers whose positions are suddenly pegged as “unnecessary.” Economic advisors at the White House are not providing many calming comments as Politico claims an internal memo is giving the view that a prolonged shutdown could cost the economy around $15 billion weekly … and put around 43,000 jobs at risk. Ouch. My final comment on this note-shortened day (as I rush to head up to New York) is on the last article below as scientists (real ones) came up with the view that there is a 4% chance of a sizeable asteroid hitting the moon sometime in 2032 … with unclear consequences to our planet. And one proposed answer? Nuke it! Which might only make it mad. Actually, this seems like a great solution … let’s fire a nuclear weapon above our heads After all … what could possibly go wrong? Have a great day, Joseph G. Witthohn, CFA Have any questions? Please contact info@teamemerald.com
|
Call Us: +1 (800) 722-4123 
Back