Good morning:.
I am rushing to an event this morning so please forgive any typos … and tomorrow I teach an early morning class which adds to my angst. But it’s good to be so busy, while at the same time it’s bad to be so busy. At times I think I’m losing my mind.
But writers of news stories that affect our economy are kept extra busy by the ever-changing news out of Washington … with our main interest in the financial world being how actions (or even just threats of action) will affect stocks.
It appears there will be a small decline when markets open today and strategists … as they always do … are pointing to a variety of reasons.
Suddenly, the trade battle with Canada heated up again … just when the bride started to walk down the altar … as an agreement was torn up at the last minute. I don’t think anything was literally torn up … but I love the statement’s dramatic effect. Anyway, it is difficult to assess which country is hurt more by our self-inflicted damaged relationship with Canada … as it goes beyond hockey sticks, cars, dairy and tongue depressors (each affected) as fewer Canadian tourists hurt American communities counting on their arrival … noting this comes at a time when some “snowbirds” are beginning to make winter plans to invade Florida from the north.
I don’t know how uncomfortable you want to feel this morning … so you might want to skip the article posted below where Mohamed El-Erian shares the view that the sky-high bond yields right now … which Treasury action did not lower … has introduced “considerable risks to our well-being.” There are so many ramifications associated with the high cost of debt and the U.S. is pulling many levers to try to bring this down.
Right now, investors are enjoying sunny skies … but it certainly does seem there are storm clouds on the horizon.
On a final note, I found the last article below to be tremendously interesting as the belief that if you select a flight months ahead … or on certain days … you will get a better price … but that is being called into question as your computer (including your physical location along with buying and search habits) is being used to set the price.
This means it is entirely possible that two people in the same room using two separate computers could get different quotes for the exact same flight.
I will certainly try that … and use VPN to “change” my location. This whole algorithm thing has gotten out of hand (if you notice, sometimes restaurants will charge different prices based on which site you use for pickup).
I hate overpaying for things. But there is some good news to report.
Faithful readers of the Wit & Wisdom newsletter will now receive a 50% discount going forward … our way of showing thanks for your readership.
What is 50% of zero?
Have a great day,
Joseph G. Witthohn, CFA
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