Good morning:.
It appears that many will benefit from the recently started “Trump Accounts” … so it might be worth your while to read up on this even if you won’t directly benefit … as some relatives or friends might. To be fair, I haven’t yet reviewed the nuances but included one “FAQ” article below, which will help get me started. I have been concerned over our shrinking “population replenishment rate” … and applaud any attempt to improve this … and this might slightly tackle the affordability argument.
Meanwhile markets are up this morning and Truist Chief Market Strategist, Keith Lerner, commented that the “forward P/E ratio” is now actually below where it started the year … a bullish statement for those who see earnings as steering this market forward.
Helping, of course, is the continuing reduction in the cost of oil … as OPEC agreed to boost output targets … though we keep in mind that things here are still a bit problematic as traffic through the Strait can come to an immediate halt as Iran seems to still have some control.
And gas prices in the U.S.? They have been moving down but not to the same degree as we are seeing with oil futures as they are still 27% higher than when the war began.
But the major story making news this morning is not an economic one but has to do with the decision by the World Cup’s governing body to reverse the one-game suspension of a key player on the U.S. team.
Folarin Balogun, of the U.S. national team, received a “red card” which called for him being suspended for tonight’s game. Somehow, the White House got involved … hired attorneys … and following President Trump call to the FIFA President … with whom he has a friendly relationship … the suspension was reversed.
A bad call by the referee? Perhaps … and I hate the thought that what may be an unintentional infraction could result in a suspension … but rules are rules and I will certainly receive some hate mail for this, but I do feel the review as it is being reported should not have been done.
On a final note, I just learned about something called an Amazon Outlet (last story below) … and this is yet another thing for me to investigate.
I’ll do anything that can save me money … and as a lover of Amazon … I will certainty be looking at this site … for the way I played golf on Saturday … well … let’s just say …
… I need to buy more golf balls
… many more
Have a great holiday day,
Joseph G. Witthohn, CFA
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