The various averages and indexes went sideways last week.
Maybe that is actually a gain.
There was news that the unemployment rate remains low, but that jobs were not added in a positive fashion.
Crude prices held steady as more news comes out that the flow of oil out of the gulf has gotten back closer to normal.
Outside of the near hijacking of a plane, the conflicts around the world took a backseat to the meetings with Xi and President Trump.
The meetings was much to do about little outside of the lowering of tariffs on many products traded between the two countries.
While I sit here and complain about fuel prices, consumers are still spending at the checkout.
I have heard it theorized that the wealth effect created by a record-setting stock market has given consumers the confidence to spend.
My thought in that is that it seems to conflict with the theory that most don’t even invest.
I suppose watching whatever you have in your retirement account grow gives you somewhat confidence.
I must just be old school in that I only ever care about is the balance in my checking account.
I use my credit card as I have to and pay the balance every month.
I know there are so many out there that have maxed out their credit card and are only paying the minimum.
I do know that whenever I happen to be in some retail outlet, it is packed with consumers.
Not saying all is well but people are not cutting back yet.
It does seem that of late, most of everyone’s attention is focused more on AI than foreign policy, the economy or politics.
That said, there is a mute button on the remote so that I don’t have to listen to the same political ad for the 100th time.
It does seem that we are taking a real look at where we are headed with AI.
I know that my starting job would have been in jeopardy should this technology have been in place.
I remembering writing a computer program with a colleague that shortened the time for calculating the cost of service for a rate study from weeks to seconds.
There is no stopping technology.
I would say that my grandchildren may not attend college in a bricks and mortar fashion.
The curriculum is already being drastically changed.
Sometimes being older is not so bad as all this will be someone’s else problem.
I will say that the technology has made researching material more efficient.
You have the Library of Congress at your fingertips.
I have been going back over the stock trades I have made over the last couple of decades and been able to track mergers, sales and liquidations that would have taken me weeks to figure out if at all.
That is research without asking for any real calculations or creative thought.
I am sure that if I had this technology available as a student that I would have probably abused the ability to avoid creative thought.
Now it just seems somewhat pointless.
I actually enjoy the creative struggle.
Then again, I am not having to meet some teachers due date either.
With the elections now less than a month away, you have to wonder what those concerned will do to tip the scales.
October always has been an interesting month for the stock market.
I lived through the 87 crisis and came out the other side.
I am not sure what I did right but I did use it as a learning tool not to panic when most are.
It also instilled my belief in trading when the rest are running.
I am not suggesting this will happen this month.
The markets seem too strong.
I don’t see the Fed raising rates till December.
I am a terrible prognosticator, but I just don’t see a big correction in this market till next year.
There is your perfect signal to get out now as I have been wrong about this current market for a long time.
Maybe it is just my old age making me skeptical.
I do know that I am letting the good times roll.
