Episode 158: (Part 2) Bad news is again good news on Wall Street…the indexes were up 1% yesterday on news of slowing US manufacturing and the hint of more stimulus from the European Central Bank…after Fed comments about a strong economy the market was down 1% today.
The IMF will include the Chinese Yuan (RMB) in their basket of currencies…and why shouldn’t they? China is the world’s second largest economy but the Yuan accounts for only about 3% of currency transactions. Ignore the gloom & doom prognosticators that spread fear about the US Dollar losing its status as THE reserve currency- the US Dollar is at an 8 month high and headed higher [I remain long the US Dollar.] For the foreseeable future, English will remain the global language of choice and the US Dollar will remain the currency. [Bitcoin or another crypto currency is more likely to replace the US Dollar than the Yuan.]
Brick & Mortar Retail sales were flat and online sales up…that shouldn’t be a surprise to anyone but the Media that want to hype the obvious.
US Manufacturing is slowing and at its lowest level since 2009 (as is Gold)…Wall Street closed UP on the bad news- sure of more easy monetary policy from the Central Bankers.
Doc Gunn review of Foxy Tuck holster:
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