Not much to get excited about. The market is resting, but isn’t collapsing, which is good. Most Octobers are up months in the market.
The shutdown idiocy is a downer.
For more on “resting,” read Two ‘Triple Bearish Divergences’ Are Simultaneously Hitting The Stock Market Right Now. click here.
Dr Doom, Nouriel Roubini spoke recently:
He suggested overweighting equities vs. bonds, and within equities, focusing on advanced economies rather than emerging markets — in particular U.S. and Japanese equities rather than European or U.K. stocks.
Roubini was gloomy on commodities in general, saying the “commodity supercycle” is likely over.
“Most commodity prices over the next couple of years are going to be lower rather than higher,” he said. Roubini cited Chinese growth slowing and becoming less resource-intensive, plus the Federal Reserve starting to wind down its stimulus measures. As he did with gold in particular, he also cited higher interest rates and a strengthening dollar, adding that “dollar doomsday folks” are wrong. The U.S. has advantages over other developed nations with its demographics and technology, he said.
For more on his talk, click here.
Wonder of wonders. There are some Republicans who actually think it’s not a good idea to shut down the Federal Government. There will be millions of Federal employees who won’t get paid … I wonder: Does that include members of Congress? Or have they figured some sneaky way to get paid?
Tips to master Apple’s new iOS 7. One tip appeals: iOS 7 has skinnier fonts. If that bothers you (it did me), adjust the size under Settings > General > Accessibility > Larger Type. Drag the slider at the bottom of your screen to adjust the font size. I left mine at the same font size, but made my type bold. It’s much easier for read. For the other tips, click here.
For six simple ways to keep your iPhone powered up, click here. Personally I’m very impressed with the battery life I’m getting on my new iPhone 5S.
I don’t believe that the new iPhones will kill the Android phones from Samsung and HTC One, which have all Apple’s major features at a much lower price. Your kids don’t need a new iPhone.
Going with the flow. The two leading biking tour companies — Backroads (which we’ve used and love) and Butterfield and Robinson — now offer electric bikes. You can see the locals shaking their heads and mumbling, “Here come the Americans.”
Traveling in Southern Germany. My friend sends me a sample of their local delicacy:
A fun short four second video. Are you old enough to get the joke? Click here.
Finally a real decision out of Washington.
WASHINGTON (The Borowitz Report)-In what is being hailed as a rare example of bipartisan coöperation, Senate Democrats and Republicans came together today on a near-unanimous vote to defund Sen. Ted Cruz (R-Texas).
The measure, which shuts down all nonessential functions of Sen. Cruz, passed by a margin of ninety-nine to one.
As the final vote was announced this morning, Sen. Cruz’s microphone was unplugged and the Senate exploded with cheers on both sides of the aisle.
Senate Majority Leader Harry Reid (D-Nevada) said that the vote to defund the Texas senator showed that bipartisan coöperation is possible even in the usually rancorous Senate: “Every now and then the two parties can reach across the aisle and find something that we both despise with all our might.”
Senate Minority Leader Mitch McConnell (R-Kentucky) acknowledged that the budget impact of defunding Sen. Cruz would be minimal, but added, “This was never about money. We got Ted Cruz to stop talking, and you can’t put a price tag on that.”
Harry Newton who’s thankful for small mercies. Here is an erstwhile investor trying to sell his car after losing all in the Great Crash of 1929:
I’d love to see more civility here, guys. Also: what about some respect
for the fact that Harry’s readers do not live exclusively on one narrow slice
of the political spectrum, as if that slice is “reality”?
Harry — Do you regularly quote Roubini because you want to be compared to the one person in the world with a worse track record than yourself? He was once right in his life. You, I think twice.
What Ted Cruz is doing is too important to make Borowitz funny. I don’t say Cruz’s action is decisive, but you can not win, particularly against Liberals, if you don’t fight with every weapon. The man has the balls lacking in most other Republicans.
Thanks for the important reminder, cash is king.
You are stupid if you believe that in an era where the market has tripled in five years that cash is – or has ever been – kind. Warren Buffett disagrees vehemently with you.
Well having lived through depressions, poverty and hunger I’ll go to my grave believing that. If fact that might be a good saying on my tombstone.