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Thursday, October 19, 2023

Clearing Out Just Some Of The In-Box -- October 19, 2023

Locator: 45823ECON.  

Sports tonight:

  • NFL on Amazon Prime Video
  • MLB: first pitch at 7:03 p.m. CT.

After a busy day of geopolitical news and economic news, only time for some headlines and comments:

  • WTI is climbing a wall of worry, but incredibly slowly considering the news:
    • known: tensions in the Mideast driving oil higher;
    • unknown: how long this will go on; whether Hezbollah gets involved making this a more regional war;
  • UAW: no news; but it certainly looks like GM and F have both placed their best and final offers on the table;
    • regardless, by the time we get a contract, we're going to be getting into the holidays;
    • for the US automakers, is CY over for all intents and purposes?
    • October, November, December: that's one whole quarter;
  • TSM: says tech has been through the worst; link here;
  • Investing: the trusted 60-40 investing strategy has just had its worst year in generations; link here;
    • my investment strategy has been 99-1 for as long as I can remember (99% equities; 1% cash);
    • the bad news: hitting retirees late in life when they can least afford these downturns;
  • Busing: I could be wrong, but it's my observation that blue states have favored busing ever since the 60s;
    • all of a sudden, now in 2023, the blue states hate busing
    • link here.
  • A trend developing?
    • former Trump legal advisor cops a plea in exchange for testifying against her old boss;
    • the linked article at The WSJ implies she won't be the last.
  • The energy transition is over. 
    • The phrase President Biden used: "tremendous risk."

And it's his program. Ouch. 

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