The more we worry, the higher the market moves.
I saw an analyst project over 10,000 for the S&P 500 before this bull market ends.
You do have to appreciate the remarkable earnings news that continues.
We will have some of the biggest of the Mag 7 reports this week.
There will be plenty of attention Wednesday awaiting the Fed’s rate decision.
I can’t imagine the Fed lowering rates with WTI still in the $90 to $100 per barrel range.
The true interest may be more focused on whether Fed Chair Powell will stay on past his term, which he could do.
If he does step down, it will open up two seats with the President’s nomination of Warsh to be the next Fed Chair and another retiring Fed seat opening.
I can’t see the Fed having that much influence for some time until this conflict ends.
Speaking of that, it doesn’t take Sherlock Holmes to realize that the Iranians want the Strait open, but probably will never give up their
ability to build a nuclear bomb.
The problem for the current Administration is the looming midterm elections. The Iranian leaders will let their countrymen suffer before giving up the one hammer they can wield.
We have seen this for the last half century.
I wonder what the odds at Kalshi are on any or all outcomes.
I have been amazed at how our country has adapted to the rise in fuel prices. I know it has cut out two road trips for me so far.
Maybe the benefit I will achieve is finally taking care of a lot of yard work and paper work that I have put off. I guess that is a minor victory.
I did notice last week that Intel has come roaring back from the dead. The Government’s investment has been richly rewarded.
I should have such investment success, though I don’t believe it is the government’s business to be involved in companies’ success or failure.
I know it has been done before and there is always a glorified reason to be championed, but companies fail. They are replaced quickly.
This is the essence of the free enterprise market. I know that is a problem when your biggest competitor is China, which treats this whole thing as an economic war.
I have little faith in the government being efficient or impartial.
This is where capitalism loses its way as it abandons ethics for the ends justifying the means.
I have enjoyed the battle between Sam Altman and Elon Musk over Open AI. There is currently a lawsuit brought by Musk seeking a return on his $40 million investment in the early stages of the company when it was touted to be a nonprofit.
Altman changed all that and is moving to take the company public.
We shall see what the courts say as to who really wins. Microsoft’s investment had allowed them almost exclusive use but that changed this week too.
Since we were referencing the economy above, it should be noted that job cuts were announced at Amazon and Microsoft.
The public will have to get their hands around AI taking jobs.
The debate over whether AI will create new jobs is not an easy sell. You have seen Musk suggest that there needs to be a base income provided to families as there just won’t be enough jobs.
I still maintain that just buying the S&P 500 index ETF is the easiest and safest game in town.
Must speak to my masochistic tendencies that I still keep digging in the weeds.
I do a lot of that even on the golf course, must be a character flaw.
