This is a Bob Brinker Fan Club and Critic Club. We join the Starship Moneytalk each Sunday on our way to Marketimer's Land of Critical Mass. We will post brief commentary about Bob Brinker's Moneytalk.
Saturday, December 23, 2017
December 24, 2017, Merry Christmas and Happy New Year
December 24, 2017.....The Blog-Writers (Honeybee and Frankj) will each be celebrating with their families this Christmas Eve and want to wish everyone a very Merry Christmas and Happy New Year.
So did anyone listen to Bob Brinker on December 24, 2017? Our family was busy with other things as well. I guess I'm just curious if it was reruns as was anticipated. I don't know about Brinker's belief's (if any) about which would more acceptable to do "live" (Christmas or New Year's Eve). Perhaps Christmas Eve was reruns as a sign of mutual respect to Honey. Of course we could surmise that based on his past record the answer to the question about which weekend could be live might well be "None of the above".
I listened to Brinker on Sunday so I can confirm that he was NOT live. Was reruns of prior calls. He tried to fool listeners one time when he reminded everyone that the last trading day of the year falls on a Friday. That was probably recorded last year when I think the last trading day also fell on a Friday.
. Thanks Jim....I think that if we look back through my Moneytalk summaries in recent weeks when Brinker was on live, we will find that I mentioned that he mentioned the last shopping day of the year.
That would be mixed in with the talk about selling for tax losses - if you can find any.
I am real sure that all of the monologues and calls are "hand-picked" either by him or Jr.
One more trading day after today. Time to lock in any capital losses, if any.
Pay your 2018 property taxes in advance? Some people are doing that to take full advantage of the deduction in 2017 before it gets capped in 2018. Scrooge (AKA the IRS) says, "OK but you need to have an assessment showing the assessed value for 2018."
Write a check to a charity? Do it before the end of the year. The charity does not have to receive it/cash it in 2017 -- the rules say as long as you actually had the funds in your account at the end of 2017 the deduction is legit.
Will the Bobster comment on the companies announcing raises, bonuses, hiring plans, expansion plans? I'll be very surprised if he does.
To Honeybee and every contributor to the updates, thank you so much for your efforts and I wish everyone a very Happy New Year!
I see much has been discussed regarding stock market and economic results since the most recent presidential election and inauguration. Here is my 2 cents' worth on that subject. For those of us who are not believers in Wishing Upon a Star when it comes to stock market and economic results but instead value legislation and policy as far more determinant factors in those results, neither the day of an election nor the moment of presidential inauguration matter much as inflection points, if at all. In fact, each of the last two first presidential elections and inaugurations illustrate that assertion very well. The direction and trajectory of what was already happening in the stock market and the economy well prior to the election and, later, the inauguration of both Barack Obama in November 2008/January 2009 and Donald Trump in November 2016/January 2017 continued on afterwards without interruption or meaningful alteration.
In my judgment, two other dates are far more relevant to assessing the effectiveness of an administration's positive or negative influence on the stock market and economy; the day that administration's first significant economic legislation is signed and the day the policy's provisions first hit the street. The day the legislation is signed is when Wall Street assesses what that legislation will produce for good or for ill and bets begin to be made accordingly. Then, later, the day that legislation's policy provisions begin to actually hit the street is when Main Street assesses the effectiveness of the legislation and places or cancels orders, hires or fires employees accordingly.
In the case of the previous administration, that first significant economic legislation, The American Recovery and Reinvestment Act of 2009 (ARRA), was signed and passed in late February of that year. Wall Street's positive assessment of it was almost immediate, within 2 weeks. The stock market turn around, full recovery and ongoing historic bull run has continued to this month. Its policy provisions first hit the street in early April, 2009. That is when Main Street responded positively enough that, according to the National Bureau of Economic Research (NBER), we officially emerged from the Great Recession later that same quarter.
The day of the election and the moment of inauguration of both Barack Obama and Donald Trump didn't matter or change much at all about what was already happening in the stock market and the economy. But, as history now records with regard to the former administration's first significant economic legislation, the day it was signed and the day its provisions first began to hit the street did matter quite a bit. They marked major inflection points for the positive.
This current administration's first significant economic legislation, the Tax Cuts and Jobs Act of 2017 (TCJA), was passed and signed just a few days ago. So we don't yet know how Wall Street and, later, Main Street will respond to it. But here's to hoping that both Streets find enough positive elements in it to continue the now several years' long trend of stock market gains, U.S. private jobs creation and economic expansion going forward!
Oh, the markets didn't mind all the debt spending. Nor the artificial cheap money that put savings accounts and bonds at a disadvantage. Investors had no choice but to run to equities. Home owners and land owners loved the price appreciation. Problem is this has little to do with the long term health of economy. Retiree's got the short end of the stick. The heavily leveraged won. Companies utilized "free" money to buy back stocks. Corporations went on a debt ladened buy out spree. So, the economy was built on phony money and inefficient spending. Spending controlled by the political class as in the good old days of political might per the Great Depression years. A time in history that Obama was an expert. Wage earners had to sit on the sidelines and be thankful for employment. Corporations and wealthy gorged themselves to extra helpings. Your right this stimulation had no trickle down component. Tax cuts do, as the savings are free lance and actually pull money away from central control.
Conversely, the current occupant is making hard decisions and not purchasing fame with other people's money. Also, can you imagine any CIC standing up to the oppressive press? Every politician wins or loses upon good press. This is why they make nice and kiss up to afford some good press. This political motivated, AKA drive by media, have always controlled how citizen's get info. Info that was filtered and colorized to improve image of their beloved political group.
Just now I was listening to NPR interview a news colleague that covered military. This is the press interviewing itself for credibility. The conversation was propaganda to opinionated listenership. The death stats went from 25 to 35. This reporter tried to convince us that this wouldn't have happened with Obama since he had final approval of military. I don't know about you, but my training and experience puts Trump delegation of decision making as superior and effective. This reporter was so full of propaganda all designed to impune one and glorify the other.
The survey's I've read of "Gawd" belief; just about every person on the planet believes their is a God. This force takes many forms, but just about everyone thinks their is a force. Few believe in evolution creation. Some aspects "may" be in play, but one has to invent magic genies and space invader logic to make it possible. Saying, that I guess that that path may be popular. Good luck with that.
Welcome back Gawd! Your prior post (December 28, 2017) was just a wonderful pleasure to read. I share your perspective, regarding the fiscal inflection points you referenced, that the Trump tax package – now the law of the land, will have on future economic expansion, job creation and stock market gains – for better or worse.
Despite the CBO score of 1.4 trillion added to the national debt and 13 million people losing health care coverage due to the elimination of the individual mandate, I remain optimistic that the American people will strongly convince the incumbent Congress to amend the enacted legislation.
After all, unlike the Reagan tax package that became law with bi-partisan support, no Democrats voted in favor of this legislation. Should the message gain traction, as echoed by BB and many others, that this legislation favors primarily high earners, high net worth individuals/families and corporations at a ratio of 80/20 over the middle-class worker, this November could turn out to be a losing proposition for many Republican incumbents, should they chose to ignore the political perception of unpopular legislation.
Let’s all hope that the Trump tax package will contribute to the long bull market that began April ’09, and surpass the longer bull market of the 1990’s. What a spectacular run to date!
Wishing all a healthy and wealthy 2018! Party like it’s 1999? Maybe not, considering what soon followed -- the dot-com bubble!
. Jester...Your conclusions about the new tax plan, especially the ending of the FORCED purchase of health care insurance - are just that, your conclusions.
And let's not get too high up on that "bi-partisan" high horse. The Obama-Pelosi takeover of health care was passed entirely by Democrats and touted to the public with a pack of lies.
So going back to Reagan is like Bob Brinker going back to year-2000 and ignoring 2008.
Jester, how does no longer REQUIRING that people buy health insurance equate to 13 million LOSING health insurance? Are you saying that if they are not forced to buy insurance, they will elect not to have coverage? If so, this is a choice they make for themselves.
Or are you saying that all those who were forced to buy insurance received subsidies and now with the mandate gone the subsidies are gone and therefore none of these 13 million can afford insurance.
23 comments:
Merry Christmas and thanks.
Merry Christmas!
A Blessed Christmas to all.
And a Happy New as well.
Pavlov’s Cat
Merry Christmas to all.
John from SF said:
So did anyone listen to Bob Brinker on December 24, 2017? Our family was busy with other things as well. I guess I'm just curious if it was reruns as was anticipated. I don't know about Brinker's belief's (if any) about which would more acceptable to do "live" (Christmas or New Year's Eve). Perhaps Christmas Eve was reruns as a sign of mutual respect to Honey. Of course we could surmise that based on his past record the answer to the question about which weekend could be live might well be "None of the above".
.
John from SF....I did not listen at all, but I think we can be sure that Bob Brinker did not work on a live show on Christmas Eve day.
I am also very sure that he will not work on New Year's Eve - however, I will listen to the opening of Moneytalk just for kicks. :)
Are you wishing Brinker a merry Christmas?
.
Sandra E....I wrote (and meant) everyone. But I'm curious why you are asking if I would wish Bob Brinker a Merry Christmas. Care to explain?
I listened to Brinker on Sunday so I can confirm that he was NOT live. Was reruns of prior calls. He tried to fool listeners one time when he reminded everyone that the last trading day of the year falls on a Friday. That was probably recorded last year when I think the last trading day also fell on a Friday.
.
Thanks Jim....I think that if we look back through my Moneytalk summaries in recent weeks when Brinker was on live, we will find that I mentioned that he mentioned the last shopping day of the year.
That would be mixed in with the talk about selling for tax losses - if you can find any.
I am real sure that all of the monologues and calls are "hand-picked" either by him or Jr.
Great list ''10 money podcasts worth your time"....INC. magazine, Jeff Rose SHIFTY in Skokie
.
Note to anonymous who doesn't have the cahones to post on my Silicon Investor political thread, so sent his comments here - calling me a racist.
Well, if you think I'm a racist, that proves I'm not.
And even if I was, I'd rather be a racist than a sniveling little coward.
One more trading day after today. Time to lock in any capital losses, if any.
Pay your 2018 property taxes in advance? Some people are doing that to take full advantage of the deduction in 2017 before it gets capped in 2018. Scrooge (AKA the IRS) says, "OK but you need to have an assessment showing the assessed value for 2018."
Write a check to a charity? Do it before the end of the year. The charity does not have to receive it/cash it in 2017 -- the rules say as long as you actually had the funds in your account at the end of 2017 the deduction is legit.
Will the Bobster comment on the companies announcing raises, bonuses, hiring plans, expansion plans? I'll be very surprised if he does.
To Honeybee and every contributor to the updates, thank you so much for your efforts and I wish everyone a very Happy New Year!
I see much has been discussed regarding stock market and economic results since the most recent presidential election and inauguration. Here is my 2 cents' worth on that subject. For those of us who are not believers in Wishing Upon a Star when it comes to stock market and economic results but instead value legislation and policy as far more determinant factors in those results, neither the day of an election nor the moment of presidential inauguration matter much as inflection points, if at all. In fact, each of the last two first presidential elections and inaugurations illustrate that assertion very well. The direction and trajectory of what was already happening in the stock market and the economy well prior to the election and, later, the inauguration of both Barack Obama in November 2008/January 2009 and Donald Trump in November 2016/January 2017 continued on afterwards without interruption or meaningful alteration.
In my judgment, two other dates are far more relevant to assessing the effectiveness of an administration's positive or negative influence on the stock market and economy; the day that administration's first significant economic legislation is signed and the day the policy's provisions first hit the street. The day the legislation is signed is when Wall Street assesses what that legislation will produce for good or for ill and bets begin to be made accordingly. Then, later, the day that legislation's policy provisions begin to actually hit the street is when Main Street assesses the effectiveness of the legislation and places or cancels orders, hires or fires employees accordingly.
In the case of the previous administration, that first significant economic legislation, The American Recovery and Reinvestment Act of 2009 (ARRA), was signed and passed in late February of that year. Wall Street's positive assessment of it was almost immediate, within 2 weeks. The stock market turn around, full recovery and ongoing historic bull run has continued to this month. Its policy provisions first hit the street in early April, 2009. That is when Main Street responded positively enough that, according to the National Bureau of Economic Research (NBER), we officially emerged from the Great Recession later that same quarter.
The day of the election and the moment of inauguration of both Barack Obama and Donald Trump didn't matter or change much at all about what was already happening in the stock market and the economy. But, as history now records with regard to the former administration's first significant economic legislation, the day it was signed and the day its provisions first began to hit the street did matter quite a bit. They marked major inflection points for the positive.
This current administration's first significant economic legislation, the Tax Cuts and Jobs Act of 2017 (TCJA), was passed and signed just a few days ago. So we don't yet know how Wall Street and, later, Main Street will respond to it. But here's to hoping that both Streets find enough positive elements in it to continue the now several years' long trend of stock market gains, U.S. private jobs creation and economic expansion going forward!
Oh, the markets didn't mind all the debt spending. Nor the artificial cheap money that put savings accounts and bonds at a disadvantage. Investors had no choice but to run to equities. Home owners and land owners loved the price appreciation. Problem is this has little to do with the long term health of economy. Retiree's got the short end of the stick. The heavily leveraged won. Companies utilized "free" money to buy back stocks. Corporations went on a debt ladened buy out spree. So, the economy was built on phony money and inefficient spending. Spending controlled by the political class as in the good old days of political might per the Great Depression years. A time in history that Obama was an expert. Wage earners had to sit on the sidelines and be thankful for employment. Corporations and wealthy gorged themselves to extra helpings. Your right this stimulation had no trickle down component. Tax cuts do, as the savings are free lance and actually pull money away from central control.
Conversely, the current occupant is making hard decisions and not purchasing fame with other people's money. Also, can you imagine any CIC standing up to the oppressive press? Every politician wins or loses upon good press. This is why they make nice and kiss up to afford some good press. This political motivated, AKA drive by media, have always controlled how citizen's get info. Info that was filtered and colorized to improve image of their beloved political group.
Just now I was listening to NPR interview a news colleague that covered military. This is the press interviewing itself for credibility. The conversation was propaganda to opinionated listenership. The death stats went from 25 to 35. This reporter tried to convince us that this wouldn't have happened with Obama since he had final approval of military. I don't know about you, but my training and experience puts Trump delegation of decision making as superior and effective. This reporter was so full of propaganda all designed to impune one and glorify the other.
The survey's I've read of "Gawd" belief; just about every person on the planet believes their is a God. This force takes many forms, but just about everyone thinks their is a force. Few believe in evolution creation. Some aspects "may" be in play, but one has to invent magic genies and space invader logic to make it possible. Saying, that I guess that that path may be popular. Good luck with that.
Yo, Bacon Boy,
Best wishes for a happy National Bacon Day!
https://goo.gl/qNdAgr
JC
I am so eager to see if he will since he has called everyone all kinds of name that thought wages would rise with tax cuts.
FWIW: Bobby never apologizes and never comments on past blunders.
Hope everyone has a prosperous 2018!
Jerrod: Hahahaha, great link!
Here it is for those not inclined to copy and paste. I hope our beloved Bacon Boy is not too humiliated.
Welcome back Gawd! Your prior post (December 28, 2017) was just a wonderful pleasure to read. I share your perspective, regarding the fiscal inflection points you referenced, that the Trump tax package – now the law of the land, will have on future economic expansion, job creation and stock market gains – for better or worse.
Despite the CBO score of 1.4 trillion added to the national debt and 13 million people losing health care coverage due to the elimination of the individual mandate, I remain optimistic that the American people will strongly convince the incumbent Congress to amend the enacted legislation.
After all, unlike the Reagan tax package that became law with bi-partisan support, no Democrats voted in favor of this legislation. Should the message gain traction, as echoed by BB and many others, that this legislation favors primarily high earners, high net worth individuals/families and corporations at a ratio of 80/20 over the middle-class worker, this November could turn out to be a losing proposition for many Republican incumbents, should they chose to ignore the political perception of unpopular legislation.
Let’s all hope that the Trump tax package will contribute to the long bull market that began April ’09, and surpass the longer bull market of the 1990’s. What a spectacular run to date!
Wishing all a healthy and wealthy 2018! Party like it’s 1999? Maybe not, considering what soon followed -- the dot-com bubble!
.
Jester...Your conclusions about the new tax plan, especially the ending of the FORCED purchase of health care insurance - are just that, your conclusions.
And let's not get too high up on that "bi-partisan" high horse. The Obama-Pelosi takeover of health care was passed entirely by Democrats and touted to the public with a pack of lies.
So going back to Reagan is like Bob Brinker going back to year-2000 and ignoring 2008.
Jester, how does no longer REQUIRING that people buy health insurance equate to 13 million LOSING health insurance? Are you saying that if they are not forced to buy insurance, they will elect not to have coverage? If so, this is a choice they make for themselves.
Or are you saying that all those who were forced to buy insurance received subsidies and now with the mandate gone the subsidies are gone and therefore none of these 13 million can afford insurance.
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