Trader Vic – Comments on the Fed double speak and market reactions
Trader Vic is always great to have on the show and this interview is no different. We get his comments on the recent Fed statement and how the markets reacted. Also what he expects for any upcoming tax policy announcements from Trump and the GOP. Trader Vic lays out why he thinks people should be doing with their money in a more long term sense if they have gains in the US markets.
Click download link to listen on this device: Download Show
Re: Trader Vic and CA pensions:
http://www.sacbee.com/news/politics-government/the-state-worker/article172960601.html
world trade is beginning to boom:
http://stockcharts.com/h-sc/ui?s=%24BDI
OFF TOPIC: European dissent.
With the Catalans, if they are allowed to vote at the beginning of October, almost guaranteed to secede from Central Spanish rule and seek independence, there are now rumors that there is a significant faction within the Czech Republic also demanding independence.
What about it California?
Only in the land of fruits and nuts is free speech totally ignored….
SACRAMENTO, Calif. (AP) — California’s attorney general has reached a $300,000 settlement with Gatorade over allegations the company made “anti-water” statements in a cellphone game.
The settlement reached Thursday by Attorney General Xavier Becerra (HAH-vee-air Bah-sehr’-ah) and Gatorade is not an admission of wrongdoing. Gatorade must also refrain from making statements “that disparage water or the consumption of water.”
The dispute centers on a Gatorade-created cellphone application called “Bolt!” where users play Olympic runner Usain Bolt. A complaint filed by Becerra says the game encourages users to “keep your performance level high by avoiding water” and drink Gatorade instead.
Becerra says the marketing is misleading, unlawful and morally wrong.
California Government – you gotta luv it or hate it!
Like you said…….Land of Fruits and Nuts……….
It would seem Trader Vic is on to something when it comes to Illinois. The state has millions in bills on backlog due to their cash shortage. Pension system is another nightmare. However, it will go on till it doesn’t and I see the timeline being far longer than Trader Vic. And California will outlast everyone reading this page. I’m just too cynical that these problems can’t and won’t be papered over. JMO
WASHINGTON (AP) — Figures on government spending and debt in millions of dollars. The government’s fiscal year runs Oct. 1 through Sept. 30.
Total public debt subject to limit Sept. 20 $20,129,161
Statutory debt limit –Suspended–
Total public debt outstanding Sept. 20 $20,164,808
Operating balance Sept. 20 $151,204
Interest fiscal year 2017 thru Aug $274,563
Interest same period pvs fiscal year $257,688
Deficit fiscal year 2017 thru Aug -$673,711
Deficit same period pvs fiscal year -$619,092
Receipts fiscal year 2017 thru Aug $2,966,172
Receipts same period pvs fiscal year $2,910,151
Outlays fiscal year 2017 thru Aug $3,639,882
Outlays same period pvs fiscal year $3,529,243
Gold assets in Aug $11,041
PROVIDENCE, R.I. (AP) — The U.S. Navy awarded a $5 billion contract to General Dynamics’ Electric Boat Thursday to finish designing a new class of ballistic-missile submarines so construction can start.
The Navy called the program its top priority because ballistic-missile submarines help deter nuclear war. An Electric Boat official said the award, announced Thursday, keeps the program on track. It’s designing 12 submarines to replace the current fleet of 14 aging Ohio-class ballistic-missile submarines.
Construction on the Columbia class is expected to begin in fiscal 2021 at Electric Boat’s Rhode Island manufacturing plant and at its headquarters in Groton, Connecticut. Newport News Shipbuilding in Virginia is the subcontractor. The first of the 12 submarines is expected to be delivered to the Navy in fiscal 2028.
The total cost of the shipbuilding program is about $100 billion. Each submarine is being designed to stay in the fleet for 42 years.
“The Ohio-class strategic deterrent submarine is going to reach the end of its operational life here in the next decade, so it’s extremely important for the Columbia detailed design and construction to proceed so that ship is built and delivered to the Navy in time,” said Will Lennon, Electric Boat’s vice president for the Columbia-class submarine program.
Submarines will carry a higher percentage of the nation’s maximum number of nuclear warheads allowed under the terms of the New Start treaty negotiated with Russia by the Obama administration in 2010. Courtney said that since submarines will “carry the lion’s share of our nuclear deterrence,” the Columbia class is a “must-do project.”
This new contract allows Electric Boat to finish the design and to start early construction 2021.
But what did you expect?
HOUSTON (AP) — As Houston recovers from Harvey’s devastating flooding, many homeowners could be asked to shoulder an added financial burden: higher taxes on the same houses they are struggling to rebuild.
Mayor Sylvester Turner has proposed a one-time increase in the city’s property tax rate to help pay for mounting hurricane expenses, particularly the cost of cleaning up debris and replenishing an emergency fund.
Crap……….those taxes will never go down…….once on the records, they will remain..lol
Part of the STATE to steal all property…….
Hi Cory-
Next time Trader Vic is on, please ask him about his prediction a 2-3 years ago that the US was headed for a hyperinflation (video is on YouTube).
He laid out a specific, data-backed case that eventually we will have a hyperinflation in the US. It wasn’t sensationalist, just analytical and matter of fact.
I think it would be very interesting and relevant to see if his thoughts have changed and why/ why not. Thanks
Some parts of civilization make you wonder if man ever did descend from the trees.
If he didn’t come from apes (chance), where did he come from?
Associated Press – 34 minutes ago
DENVER (AP) — A federal appeals court has sidestepped a decision on whether oil and gas regulations enacted by the Obama administration are legal, noting that the current administration plans to rescind them.
A Denver-based appeals court said Thursday it would be a waste of time to rule on the regulations because the Trump administration has said they’ll be revoked.
The 2015 regulations govern hydraulic fracturing or fracking on federal lands.
The ruling left the status of the regulations unclear.
ALERT ALERT
WASHINGTON — Today, U.S. Senators Tom Udall (D-N.M.), Martin Heinrich (D-N.M.), Michael Bennet (D-Colo.), Ron Wyden (D-Ore.) and Edward J. Markey (D-Mass.) introduced the Hardrock Mining and Reclamation Act of 2017, legislation to modernize the nation’s antiquated hardrock mining laws. The bill requires companies to pay royalties for the first time for the ability to extract mineral resources like gold, silver, and copper from public lands, helps ensure that taxpayers aren’t on the hook for cleaning up abandoned mines, and seeks to prevent another toxic spill like the Gold King Mine disaster of 2015. The Gold King Mine blowout spilled 3 million gallons of toxic wastewater into the Animas and San Juan rivers, and communities in New Mexico and Colorado are still waiting for compensation for the damage to their businesses and farms.
Welcome to AMERIKA
wasn’t that yesterday………..
This is a little off topic but you might find it thought provoking.
http://www.silverdoctors.com/gold/gold-news/breaking-u-s-senators-introduce-bill-in-direct-attack-on-gold-silver-mining/#more-82324
Some very strange and very foolish things are going on lately and this one if it isn’t a hoax ought to undermine gold and silver mining and exploration in the U.S.
Reply to this comment
On September 20, 2017 at 5:49 pm,
OOTB Jerry says:
roduced the Hardrock Mining and Reclamation Act of 2017, legislation to modernize the nation’s antiquated hardrock mining laws. The bill requires companies to pay royalties for the first time for the ability to extract mineral resources like gold, silver, and copper from public lands, helps ensure that taxpayers aren’t on the hook for cleaning up abandoned mines, and seeks to prevent another toxic spill like the Gold King Mine disaster of 2015. The Gold King Mine blowout spilled 3
Reply to this comment
On September 20, 2017 at 5:12 pm,
Steven Rowlandson says:
POSTED THE ABOVE, SO we give credit to him………
CFS, what is it about it, specifically, that you find objectionable? Of course the devil is in the details, but the ostensible goals seem okay.
Seeks to prevent another toxic spill like the Gold King Mine disaster?! The EPA was entirely the cause of that disaster and requiring companies to pay royalties is not the solution even if it wasn’t.
These goons are too damn much.
http://dailysignal.com/2017/06/14/exposing-epas-gold-king-mine-cover/
I seem to recall it was the stupidity of EPA officials, who DESPITE BEING WARNED, caused the spill.
Wayne, why do you confront CFS……he has already stated he does not believe…..
It is already written….confound the wise….Reminds me of Paul’s speech on Mars Hill….
I would not doubt for a second that it was deliberate.
Introduced by 4 Democrats,….. should be DOA.
Conditioning for the sheeple………..rob um, tax um , condition um…….
A Look At How Nestle Makes Billions Selling You Groundwater In A Bottle
Here’s a look at how Nestle manages to buy the water in that bottle that you just dropped $2 on for a mere $0.000001…
Many thanks for hosting TV.
Stocks, USDJPY Stumble After North Korean “H-Bomb Test” Threat Reports
After an initial slide on Kim’s “deranged dotard” reaction to President Trump, both USDJPY and US equity futures are falling further after Yonhap reports, North Korea’s Foreign Minister Ri Yong Ho says the “highest level of hard-line” countermeasure could refer to hydrogen-bomb detonation in the Pacific.
Of course, if recent threats and tests are anything to gop by tyhis is the perfect time to BTFN(uclear)A(rmageddon)Dip!
Larry Klayman Reveals More Corruption by Comey, Mueller, Intel Agencies & Civil War
Interest rate rises are the flavour of the world right now it seems. Here in Aus our reserve bank boss predicts 2 rate rises next year on current conditions. Generally speaking, our central bank boss moves in increments of 50 basis points (half a percent like many other places). With that in mind, a 1% increase will add $220 a month to a $350,000 mortgage. For a $500,000 mortgage which is more the norm in Aus it adds over $400 a month to repayments. That is a big whack for your average Joe.
I wonder what will happen to our heavily indebted, over levereged, mortgage stressed society if these interest rate hikes do indeed set in??? Actually I know what will happen and it wont be nice.
Crisis always creates opportunity Ozi,
I look forward to it.
Its hilarious how people think property in Melbourne only goes up.
I have new local neighbours now buying at 8.1 times what I paid & only getting 1/2 the size of my property in only 17 years time.
They all tell they are relieved to finally get into Real Estate & ate convinced they are buying a bargain ?…..What ?
I just smile & welcome them to the street.
+1 Skeeta – “crisis always creates opportunity”.
It’s all in one’s response to situations and looking for a glass that is half full to fill the rest of the way….. or an entirely new glass altogether. Cheers!
Wait tell they get their tax bill……………lol
tell to till………then they will tell ya…………lol
Absolutely Skeeta. Delusions of grandeur and a herd mentality can often cloud a wise rational mind.
FOMO.
It will unfortunately bite many of them in an awkward place when things go astray.
The Sun may well shine on them for awhile yet? Whatever?
But I look forward to the next turning.
It’ll be bargain time when it arrives.
Charts of the Day: Investor Euphoria
The Hedgeless Horseman – September 22, 2017
– Investors are basically “all in”…
– While the combined world stock market cap has never been higher”
– The question is then… Who is left to buy?
“My personal take after seeing how robotic the US indices have been trading is that the central banks and other government entities are holding up (especially) the US markets when they are about to roll over by slamming the VIX and ramping USD/JPY exchange rate. USD/JPY has had a mind blowing correlation with both gold and the S&P500 for many years.”
“How long can they keep this up in light of almost every investor being all in already? Who knows.”
“The markets can still go up, especially if inflation kicks in for real and/or confidence in the bond markets erode.”
http://www.thehedgelesshorseman.com/chart-of-the-day/charts-day-investor-euphoria/
good point……and the problem……
“How long can they keep this up in light of almost every investor being all in already? Who knows.”
How can anyone really believe that the markets are going to change with the same people in charge……..
Con man……Dimon the Demon………..the world awaits your wisdom……..not
http://www.zerohedge.com/news/2017-09-22/bitcoin-slides-after-dimon-doubles-down-cryptocurrency-concerns-it-will-end-badly
sorry …….duplicate……..
“British Pound Going Down: BROKEN CABLE”
http://www.trendlinemagic.com/2017/09/british-pound-going-down.html
The pound is looking strong to me…
http://stockcharts.com/h-sc/ui?s=%24GBPUSD&p=W&yr=3&mn=0&dy=13&id=p51386298069
Only if it breaks that powerful downtrend line.
The critical time is now: awaiting analysis of May presentation today.
Yes, I believe that the breaking of that line is inevitable. The dollar’s relentless weakness is speaking but dollar bulls don’t want to hear it.
Neither Dollar bull nor bear — former goldbug, but no more.
I really wasn’t referring to you but just dollars bulls in general. However, I have to say that calling yourself a former gold bug means you’re not looking at it properly. If gold is sized-up correctly, then it becomes clear that it has always done what it should be expected to do.
Currently, Gold does what the Yen tells it to.
Dollar Gold prices are now determined primarily by Yen valuation in Dollars.
Yet gold is up 5.5 times versus the yen since gold:yen bottomed in 1999…
The yen is no save haven.
Currently, when the Yen rises, Gold rises, etc.
But: “The trend is your friend until the end.”
I think a rate hike is being mentioned simply because the Fed has little choice. Not because the Fed wants to raise rates because the economy is overheating, but because the bond market will slowly drop, rdemandng higher rates.