The greatest spectator sport in the world is no longer professional ice hockey or the Harlem Globetrotters, it is the United States of America. Nothing is more entertaining than controlled chaos and that is exactly what we’ve descended into as a country. At the center of this heap is the leader of the free world, President Donald Trump. With a blend of divisiveness and disrespect, the country has no answers, but only questions.
We are going to finally get some tax reform, but when? The Estate Tax has one foot in the grave, but what about the Gift Tax? The new tax plan is supposed to save the average family $1000/year in taxes. Who cares?
It looks like Janet Yellen will not be running the Fed anymore so who will be? I wonder if we will enter into a nuclear conflict with North Korea? If so, what role will Russia and China play in that? All the coal miners are supposed to be put back to work. When? Healthcare is going to be changed so that everyone can afford quality healthcare? How do we define “quality”? We are supposedly going to pay for the tax cuts with economic growth. Are you serious? The welfare system is going to be addressed because too many people have been abusing it for too long. Good luck with that!
All questions and no answers. Some questions don’t have answers. They just remain questions. Through the storm, the stock market keeps going up and up and up. Why? Is it because of the endless flow of retirement plan money coming in? Is it because so many people that should not be taking the risk of the market now have to because interest rates are so low? Is it because the algos continue to trade off of artificially produced bid price action?
I could give you my opinion but, hey, I’m just a spectator, too!