The World Keeps Turning
We're Just A Wheel In The Sky
Have you had a chance to follow the news this week? Using a macroeconomic bend there is a lot happening. On a geoeconomic and especially geopolitical basis there’s even more. How information is presented remains key to most analysis but in reality it’s important to note the source. During each broadcast, depending upon the source and channel, it seems more to me that different opinions rule. A couple issues prevail in today’s world but in base reality, people tend to flock to sources that validate their beliefs and they always will.
Powell Is Up Wednesday
Is it December already? My how time flies when we’re “having fun”, eh? Is that what Powell and the rest of the Federal Reserve is doing? Inflation, although it has cooled, is still far above the Fed’s target. How Powell handles his discussion, post the interest rate decision, will have great meaning. I sense he’ll remain hawkish.
The Federal Reserve will make its final interest rate decision of this year Wednesday. The Fed is expected to hold rates steady. Powell's commentary will be what investors will be paying close attention to. More than likely Powell is more than likely not going to actually validate any “dove” like tendencies the market is currently professing. Look for the “hawk” to hold steady regardless of what the current market expectations are.
SNL’s On The Hot Stove
I can’t believe it’s almost fifty years since Lorne Michaels gave birth to Saturday Night Live in the 1970s. It was funny then; it’s controversial today. Why I keep “tuning” in to the show is simple; it’s just another source of information, one that is highly watched in today’s environment. It’s still worth watching although I seldom laugh at the skits.
House GOP Conference Chair and New York Rep. Elise Stefanik challenged the heads of three elite universities over antisemitism. Portrayed by cast member Chloe Troast, the Stefanik character was introduced as a “MAGA superstar” and promptly asserted, “I’m going to start yelling questions at these women like Billy Eichner. Antisemitism, yay or nay?” she challenged. “Yes or no? Is calling for the genocide of Jews against the code of conduct for Harvard?” Everyone has reacted and that’s a good thing.
While I do not share the opinions illustrated on SNL it is important to watch the show and bear witness to what’s expressed. The disconnect from “actual humor” on this and other SNL episodes finds Saturday Night Live taking heat from everything. Whether it is Trump or McConnell based or just about a congressional hearing on antisemitism, it’s real. In my mind, it’s no longer just satire; it’s propaganda but again, it needs to be watched. Tune in, I do.
The Middle East Is Smoldering
If you think the Gaza war will bring an end to problems in the “Middle East” think again. Here come the Houthis and they’re looking for more. So are the Iranians and the “free world” is their overall target. That’s why I’m buying 2024 July WTI 85 calls despite the price of oil cascading lower. I’ll buy when others sell, that’s just the way I roll but in this case there’s a reason behind it; the Middle East is about to catch fire.
The Houthis are one of several groups in the Iran-aligned “Axis of Resistance” that have been taking aim at Israeli and US targets. During the first week of December, three commercial vessels came under attack in international waters, prompting a US Navy destroyer to intervene. Last month the “Houthis” seized a British-owned cargo ship that had links with an Israeli company. What’s next, I’m not sure but for certain, it’s not peace. Keep your eyes and ears targeted on the Strait of Hormuz.
Well, time to finish off a project around the outside of the house I thought would take a month or so. Five months later I’ll declare victory over the “elements”. That’s a good thing as I have more work to do on Udemy and “The Ticker’s Bible”. I do recommend a task of this nature be undertaken by no one. Like our back yard, I thought it would be a month long project. Wrong again and six months later it’s still on my plate.
My best to all and thanks for bearing with me. I’ll probably have copies of the book in hand before the end of the year. Those with a “paid for” Substack account are going to get a signed, dust covered hardback first edition. Sign up for just $99.00 annually and get in line. It’s well worth the price as will this weekend’s “paid for” edition where I’m going to reveal my next stock pick. It’s a good one and one you’ll be familiar with.
Like SNL I go way back to the 1970s. In reality all the way back to the 1960s when the real challenge we face today was just getting started. While I can’t turn the clock back it is easy to reflect on the change. Journey, in 1978 did just that as its “Wheel In The Sky” took the radio waves by storm. You remember radio, right? It was a great source of information. The talk shows and more took us to places we never thought possible. We’re back with streaming and more. Hold on tight as the “wheel in the sky” is just starting to spin, this time a little faster.