You heard it from Warren Buffett and the ceo of general electric. Warren buffett says it is obscuring the greatness. It is an Election Year and candidates cant stop speaking about the countrys problem which only they can solve. As a result of the negative drum beat Many Americans believe their children will not live as well as they do. Thats dead wrong. Those born today are the luckiest crop in history. At least in terms of your weekend reading time it goes deep into politics. Surprising for me. Again, quoting him about the Current Business environment, whats unique in this cycle is the difficult relationship between business and government. The worst i have ever seen, end quote. He goes on to write Technology Productivity and globalization have been driving forces during my business career. In business if you dont lead these changes you get fired. In politics if you dont fight them you cant get elected. Immelt says most government policile is antigrowth, end quote. These perpetual roa
Both down by 0. 75 . Chinas february exports dropped by more than 35 in u. S. Dollar terms. Imports there fell by nearly 14 . Of course, were watching Oil Prices Today too. Crude was up by 5. 5 yesterday. Its up 45 from februarys low. Right now its down by 1 , but wti still sitting above 37. 50. Scott . All right. Speaking of oil, the Goldman Sachs Commodities Team out with a new report today. That title, the three rs. The goldman team suggests those factors have driven a prema chur surge in Commodity Prices that is not sustainable. The firm is maintaining its bearish view on gold. It keeps its nearterm copper price target of 4500. As for iron ore, goldman predicts a rally will likely prove temporary, so its maintaining its end of year target of 35. And on oil, goldmans nearterm view is for a trendless market with substantial volatility between 40 per barrel and 20 a barrel. That firm has a bullish end of year view on energy, saying oil will likely rebalance this year and create a deaf
At least in terms of your weekend reading time it goes deep into politics. Surprising for me. Again, quoting him about the Current Business environment, whats unique in this cycle is the difficult relationship between business and government. The worst i have ever seen, end quote. Wow. He goes on to write Technology Productivity and globalization have been driving forces during my business career. In business if you dont lead these changes you get fired. In politics if you dont fight them you cant get elected. Immelt says most government policile is antigrowth, end quote. These perpetual roadblocks perpetuate a cycle of slow growth, poor job creation, populism, low productivity, poor policy and more slow growth, end quote. Wow. I can quibble with globalization. It hurt a lot of working people im not going to quibble with the caustic nature of the political backdrop that makes doing business more difficult and makes us less willing to pay up for the stocks of any business, no matter how
Microphone and say these the against inflation. Im sorry. What inflation . I see deflation almost everywhere, except in wages. But clearly thatats all that matters to the fed, because by any other calculus, Everything Else is going down, except for make bonein chicken and allnatural beef. Two pretty niche commodities, unless you own a restaurant like i do. If you didnt know any better, you would think these fed policy makers will talk about the need its a recipe for declining stock prices, and thats what youre getting. No matter, like ive told you repeatedly, as soon as the fed got the ammunition to raise rates in the form of last fridays very strong employment number, this market would go from being intermittently bearish, with a somewhat popotive backdrop to oututght beararh. Some some pockets of strength hand some pockets of excessive negativity. Thats exactly where we are right now. Remember, the fed has no mandate to preserve your stock portfolio. I have they critics who sayivity
Because we have this bizarre confluence of so Many Companies prospects fading at exactly the same time that a parade of Federal Reserve officials came up with a need to raise rates. When you see stocks of hivequality Companies Like cummings or macys, and nordstrom tonight joining in with a really hideous rert, the last thing you would expect is for a grownup federal governor or president to squawk about the need to when copper is trading at levels not seen in years, when aluminum and iron are plummeting, kind of crazy for people in positions of power to keep talking about how we desperately need to raise Interest Rates, raise them. Its positively counter intuitive. With oil once again about to challenge the 3 level, who would think a lot of Federal Reserve officials would grab a against inflation. Im sorry. What inflation . I see deflation almost erywhere, except in wages. But clearly that is all that matters to the fed, because by any other calculus, Everything Else is going down, exc