Good news this morning:
Economists had been expecting 188,000.
Happy employment surprises mean a happy stockmarket.
The monthly employment numbers — released on the first Friday of the month — are the most important economic statistic for stockmarkets.
A trade war?
I watched the Canadian prime minister express displeasure over the steel and aluminium tariffs and say that he believed that one day “common sense” would prevail in the White House. Good luck with that one.
These two tariff hikes won’t kill anything. It’s what they represent. This is my fear:
… there’s a longer-term danger for the American economy that’s a lot bigger than the 25 percent tax on imported steel and 10 percent on imported aluminum. It is that the administration’s trade policy is displaying an erratic, improvised, us-against-the-world quality that is anathema to businesses that must make long-term decisions about how to deploy capital. — Neil Irwin.
Debt can kill everything
I just got word that this big printer was closing down:
I’m sad because I’ve used them. Here’s one of their plants. They’ve been in business around 125 years.
My understanding is they took on too much debt when they bought Malloy. They could no longer pay their paper bills.
A lot of people will lose their jobs because the board went wild with their acquisition of Malloy and loading up on the debt to buy it.
My favorite real estate syndicator does stress tests on properties he buys. If the rents and the occupancy drop to 2008 levels will he still be able to service his debt? And then some?
Too many businessmen have lost the company they spent years building because they became too arrogant and thought they walked on water.
And forgot some basic trends — like that many of us are now reading “books” on our Kindle.
Yesterday’s blog highlighted Internet stocks
… and Mark Meeker’s annual presentation on the Internet.
If you missed the blog click here.
All our Internet stocks are up this morning.
I use Fast Company Magazine for trolling for ideas
Here’s a piece on THE MOST CREATIVE PEOPLE IN BUSINESS 2018. Click here.
Don’t do stupid, again
+ Watch that last step. I keep meeting people in casts or boots who twisted their ankle on that last step. And are now in six month rehab.
+ Don’t lift bags into overhead containers. God invented young men for that task. Ask them to help you.
Favorite recent New Yorker cartoons
Shake Shack has a new iPhone app
I like their burgers (and maybe their stock). Nice app.
I could survive on cheeseburgers. I guess some people do.
Harry Newton.
One of my readers made these comments on my blog today. It’s hard to realize the extent of the hatred in the Midwest. My reader’s words make me sad. Why is he reading a blog called “In Search Of The Perfect Investment” when he hates rich folks?
I hope that I am never confused with the “Jerry” above. Personally, however, I don’t think the post is genuine; it sounds more like a parody of a trump supporter.
Harry, he’s correct about the getting presidents elected part. The Founders got ahead of themselves with the idea of protecting the minority from tyranny by the majority, to the point where now the tables are turned and an unhinged minority runs the show.
The Founders were not all heart in caring for the minority- much of the sentiment came from protecting the *profits* from slavery.
There are millions who share this reader’s sentiments, and they should have a seat at the table- as a minority in a majority-run democracy.
“like that many of us are now reading “books” on our Kindle.”
Yes, but, where did the books on Kindle originate…were they not originally books printed by printers? When the printers/publishers all go out of business where will Kindle get their books for you to read on your little electronic devise? Do/will book authors then submit their manuscripts direct to Kindle?