Today the market went up and closed down. It was after a knockdown Friday when the market tanked on the jobs report. The market wanted 600,000+ jobs but the report came it at 196,000. No one was happy.
However, remember we are in a transitory period meaning we are making monthly adjustments to a new normal (whatever that means). Anyway, the pandemic won’t go away because to many stupid people put their rights to freedom over the health and safety of the rest of us. But I won’t preach to the choir because we already got our two shots and maybe even a booster so we are not the one’s clogging up the intensive care units at the hospitals. But like I said we are adjusting to a new normal.
I said it before and I’m saying it again. The month of October is always a rollercoaster ride month for the securities market. If it ain’t one thing its another.
Today is Global Supply chain issues with a twist. The a mega-cap companies are resorting to chartering their own boats to get their goods imported. Otherwise this will be a sad holiday season. I hope they work it out.
Our do nothing Congress is as picky as a spoiled child who can’t get everything they want so rather than compromise they bicker like hypocrites. When the Republicans were in power the debt in the U.S. was nothing as they gave tax breaks to the rich and trickle down, temporary tax returns for the rest of us.
Now these same people are crying the blues about the debt ceiling and a proposed wealth tax. They only want things that will line their pockets. It makes me wonder how a person can be piss poor, get elected to Congress to represent us and comes out a millionaire. What am I missing? Where is my representation?
The list goes on and on but one thing I know for sure is the next three weeks are going to be interesting. Earning reports will be flying in for the third quarter and the spotlight will be on inflation. Is it real or transitory? In the next three months we will see.
I could go on all day but what’s the fun in that! So, that is all for today. I am not sure what I will write about tomorrow but I’m going to write something from a “seat of my pants” point of view which means I am not going to write an outline or do a ton of research. That will be your job to see what I say is true.
Good luck with that!
Enjoy your day and I will see you tomorrow or the next day.
R. LaMont W.