Underneath we saw a radical devaluation of all sorts of stocks we were forced to reconsider how much well pay for a certain amount of stocks now and certain amount of growth now and how much we will pay in the future or do we sell . Most dramatic example. This morning an activist group Elliott Management took a 3. 2 billion stake in at t, gigantic, and sent a letter to the board of directors stock trading at just under 37 they think they can get it to 60 plus by the end of 2021 if the changes are made that will be huge. At t has been a real lager at t blames ill advised decisions by management, like overpaying for directv what would the failed acquisition of tmobile which ended up jump starting their competitor with a gigantic breakup. With some changes elliott argues at t can be worth a great deal more than its selling for they want the company to distract itself from side businesses cut the fat. Emphasize changes. Stop doing willynilly acquisitions at every turn put it altogether and
Of the trade war was slipping as well so we probably are slipping into a Global Economic shutdown slowdown whether its a recession is is unclear at this point so many factoring slows does this mean that people are actually unemployed and out of work. No and well we will get the next piece of important Economic Data later on this week on friday were getting at the jobs data for the month of august you know we have still continued to see a fairly robust jobs market right now although its slowing down as well the numbers 429000 are i think about 160000 jobs created per month thats down from about 220000. 00 just the jobs that were created each month and 2018 so on balance you would still say that the economy is doing well but there are certainly storm clouds on the horizon just so that the audience understands the Manufacturing Sector of the Manufacturing Sector makes its one of the top 5 employment categories in the United States is it not and what are the one of the subcategories of man
What are we doing . Interesting but smart leading the feds beige book. Leading with beige. Check in on regional economies is telling two very different stories. How we are adjusting to the trade war. On one hand the beige book highlighting a retail chain that raised prices on furniture but is considering reversing the price hike because consumers arent buying it meantime, in cleveland manufacturers are feeling the pain by cutting overtime pay rather than laying off workers things looking up in philadelphia and new york. This is like a choose your own adventure book choose your own beige book. Are you allowed to do that . Is the economy headed down the path of new york and cleveland or are we Holding Strong like philadelphia and minneapolis . Gia dam uy adami. Ill be optimistic. Things look okay, not great. Thats reasonable. I think that along with the news out of hong kong where things have been tapered down for a couple of days, thats encouraging. The market is up 3 4 of a percent, 8
Own emissions standards. All that and so much more on making money. Charles well, we begin with the fed the day after and while most observers agree that jay powell did a better job communicating, yet confusion reins as fed members are all oaf the map where rates should bo from here. President trump telling fox news what he thinks of the rate cut decision. I think we should do more because other countries have done more. If you look at germany, if you look at japan, look at some others theyre cutting much more. In fact theyre borrowing money, getting paid to borrow money. Were paying interest. Were the most prime in the world. We have this great economy. Were doing better than weve ever done. Our employment numbers are the best they have ever been, unemployment numbers also. We are doing freight. We should be cutting there is no inflation. Charles as the fed is pumping even more cash into our Financial System today. In fact over 200 billion in the last three days in the repo market. Wi
Canada mexico but arent as aware or arent as certain about the supply chains and whats theyre able to source products from theyre not going to produce as many products theyre not going to hire as many people and thats the direct consequence and you see that playing out right now in these numbers but its also more broadly just based on uncertainty in the world right now youve got youre a possibly going into recession as well certainly the chinese economy independent of the trade war was slipping as well so we probably are slipping into a Global Economic shutdown slowdown whether its a recession is is unclear at this point so many of factoring slows does this mean that people are actually unemployed and out of work. No and well we will get the next piece of important Economic Data later on this week on friday were getting at the jobs data for the month of august you know we have still continued to see a fairly robust jobs market right now although its slowing down as well the numbers 429