It is not a pretty morning for stocks … with the Dow down a couple of hundred points … as even though Jeremy Seigel says there is absolutely no risk of U.S. default on its obligations, nervous investors ask, “but … what if?”
They are especially on edge as there are many comments claiming that if something is not decided on … like … within the next day or two … it will be impossible for us to pay our bills … as any resolution would still need to be voted upon by both chambers of Congress … and that could take quite a bit of time (especially if naysayers gum up the works).
On top off that, we still have the Fed to consider, and Jamie Dimon didn’t help to calm anyone by saying at the JP Morgan Investor Conference yesterday that a 6% rate … or even 7% … is not entirely out of the question.
It is often said that “Wall Street climbs a wall of worry.” Heck, this can’t be true … for if it was, stock prices would be to the moon right now … in a period where everyone seems too scared to do any climbing.
I was going to do another podcast tomorrow but will save it for next week as my planned co-host and I are experimenting with many (and there are many) of the Artificial Intelligence items that have suddenly appeared and plan to report on what we find.
One issue is the Memorial Day Weekend coming up … and I have heard from a lot of people (too many people, perhaps) that they are taking an early weekend. Also … as you probably have guessed, I’m lazy. But one thing I will point out is I am very thankful for those who listened to the Emerald Wit &Wisdom podcast on Spotify. Quite a few have become “followers” and once I reach a certain number, I’ll be able to attract a wider range of guests. I only have so many relatives, so I count on real listeners to increase this amount. By the way, that comment was partially made in jest. I realize the content must be compelling and entertaining and yes, it will be.
What I found interesting last night was an article in which someone put Apple AirTags in plastic bags that they brought back to stores for “recycling” only to find out that out of 46 bags … only 4 seem to have been recycled … and at least half ended up in trash or the incinerator. This seems to be just another example where things are established just to make people feel good. I just wish people would be truthful about things like this and not try to fool us.
That about wraps it up for today.
I will review some AI stuff this afternoon, and then finish watching an interesting documentary I started last night.
It might not seem too exciting, but it was all about how Peruvian owls get together and hunt only in pairs.
It seems they are Inca hoots.
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
cell: (856) 625-7915
As of 11:59 AM today
While we constantly hear about the calamity that will result if the U.S. defaults, Jeremy Siegel puts the odds at … well … zero (BusinessInsider)
… as another item in the headlines, is Artificial Intelligence. Debates over its importance continue … but if it saves this much time for web design … it might well be worth it (BusinessInsider)
A focus regarding plastic has been how long it lasts … once it is “discarded.” What needs to be understood is how it affects all of us … at every stage of its creation and use (Grist)
… and no matter how hard we try … we get the sense that recycling is just a “feel good” solution … as far as plastic bags are concerned … as rarely are any recycled (6ABC)
One thing we rarely think about when making a purchase is how things are made. I am talking about the human capital as “modern slavery” is still a problem in some areas (Context)
“Gen Xers” are not saving enough for retirement. If they do not plan well in advance, they could be in for a nasty surprise (Kiplinger)
I have this problem. Occasionally, with phone in pocket … I hear ringing. Oops. I just sent a “butt dial.” Hopefully, one of these methods will stop the nonsense (MakeUseOf)
The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.