Commissioner to see if she needs help. President bernal with the quorum present, we move on to the next item. The approval of the meetings of the minute of september 1st. Wrong date, im looking at the minutes. The minutes of the meeting of september 15. Upon reviewing the minutes and without amendment, do we have a motion to approve or any amendments from the commissioners . So moved. Second. Before you all vote there is nobody on the Public Comment line, so there is no need to take Public Comment. I can take a roll call vote, commissioner. President bernal yes. Commissioner green yes. Commissioner chung yes. Commissioner chow yes. And lets see if okay, i will call her as we move into the next item. That looks like the minutes passed. The next item is the directors report. Director colfax. Good afternoon. The director report, grant cocolfax. One item of note, september 30, state department of Public Health released details regarding a Health Equity metric to help continuing efforts to
Did meet today, but there was no deal announced on a new round of relief. Weekly jobless claims this morning remained near 12 million, and the monthly payrolls data may still telegraph a great deal of doubt about the economic recovery. Investors continue to bid up stocks, the s p 500 and the nasdaq and the green, despite one of the biggest cliches of the year no connection between the stock market and the economy. Joe will put the cliche to the test today. Joe not everyone accepts that, even though it is repeated all the time. Our guest points out that if you were to break down stocks by quintile of sales growth, you see that the companies with the highest sales growth are on the right side, the far right column, they have the strongest yeartodate return, pretty clearly. On the left, the worst sales growth, you see the worst return. Judging by return performance of companies, you can see whether stocks are connected to the fundamentals. Romaine they look like they are. Some would argue
Remodeling bigtime during the lockdown. Profits went straight up, sales straight up. Those tools, wallboard and paint, just ran off the shelves. These two companies are economic indicators. They are doing well. The economy apparently recovering nicely. As for the overall market, well, the dow, thats close to the 28,000 level this morning, up about 40 points at the opening bell. The s p, thats just a couple of points away from an alltime high. The nasdaq, already there. By the way, apple is only, what, 10 shy of a 2 trillion valuation. All right. Lets get to it. The Virtual Convention. If it wasnt clear before, it should be clear now. This is Bernie Sanders Democrat Party. He laid out a far left platform and its been adopted by joe biden and kamala harris. Socialists wrote the party platform. Im calling it the Biden Harris Sanders ticket. Its the most progressive t campaign of any Political Party in recent history. Tonight, alexandria ocasiocortez will be a featured speaker. We heard fr
Climax keyser this is the kaiser report fear money. Try over and over again throughout history going back to john law hundreds of years ago and. As voltaire as the value of money always returns to its Intrinsic Value 0. I think we may be at once again an Inflection Point stacey where the fia let me experiment and in paper tears its paper tears from here on out of course kaiser report has told you this for the past 10 years we have warned you about this you know j. P. Morgan himself one time at one point when he was alive back oh about 100 years ago he said gold is money all else is credit well Deutsche Banks head of credit. So he should know agrees with them Deutsche Bank top credit strategist makes stunning admission i am a gold bug for money is a passing fad in the history of money so he said gold is definitely a fee out money hedge hes buying gold and that money will be a passing fad in the long term history of money well yeah this it always has been a passing fad and theres always
So silver is back its pass through its long term resistance for the past 6 years 20 dollars and about 0. 50 has been a resistance it could not punch above that but it punched through that heading past 23. 00 it was like soaring and therefore the bull market is finally back on the confirming the gold bull market as well which never really you know hung out at the 1200. 00 level up and down 100. 00 from there for a few years as well but the gold bull market started about a year ago and now silver is confirming that so here you know you have this guy whos at the top credit strategist and so looking at the bond markets looking at on top of the bond markets bigger than the bond markets as the Derivatives Market and of course Deutsche Bank had i dont know how much of it has blown up with they certainly had the largest derivatives book in the world now passed by j. P. Morgan so i just want to show you this interesting chart its a visual. Capitalists chart all of the worlds money and markets a