When President Trump went to Davos in January 2018, he reassured the audience that America would act unilaterally in international trade agreements going forward.
Two years later, the world is learning what unilaterally means!! In the case of President Trump’s trade policy, unilateral means an action performed by one country involved in international fair trade….. that benefits that country…without the agreement of the other! And its about time!!!
In the past few months the U.S. has abruptly pulled most of its troops from northern Syria, secured a promise from China to buy more U.S. goods, likely at the expense of others, and allowed the World Trade Organization’s authority to lapse by blocking the appointment of judges to its top appellate panel.
It has also killed a top Iranian, completed a new trade deal with Mexico and Canada, and struck a modest trade deal with Japan. The U.S. is not turning isolationist, but unilateralist: It is rewriting the rules of engagement to prioritize its narrowly defined interests and maximize its leverage. Other nations, companies and investors must adjust to a global arena where the U.S. is no longer the referee, but another player—the biggest and most aggressive.
While America’s shift to unilateralism most clearly reflects the priorities of Mr. Trump, who has long believed others take unfair advantage of the U.S., it also reflects deeper trends in the U.S. and elsewhere in the world market place.
Through its new unilateralism, the U.S. is getting a bigger say in how the world’s economic pie gets divvied up. The risk is that the pie itself will be smaller….. but we got our piece….first!
People spend a lot of time wondering if they’ll have the means to retire, often ignoring the equally important calculation: Do they have the will to retire? A job, historically seen as simply a way to make money, is increasingly the source of the types of friendship and stimulation that are hard to find in bingo halls, on beaches or riding a golf cart.
A 2018 Transamerica Center for Retirement Studies survey found half of 6,372 workers polled don’t expect to retire at 65, and 13% plan never to retire. America’s average retirement age has increased in the past 25 years to 66 or older. Much of this sentiment is due to the barrage of headlines about rising health-care costs and Social Security shortfalls.
With U.S. birthrates falling and membership in religious institutions at all-time lows, work is addressing a void once filled by children, churches or community organizations. Overall, people are working more—a half-hour longer every weekday versus 12 years ago—and spending less time socializing, attending community events or participating in sports and exercise, according to the Bureau of Labor Statistics.
For those wanting to keep working it is easier than in the past to remain sharp and productive. Developments in semiautonomous vehicle technology will make commuting safer; automated processes can reduce physical or mental demands, and an abundance of retraining efforts give more opportunities to revive or learn new skills.
Meanwhile, my financial planner (Mitch Rezman ) and I revisited the question of retirement. I’ve agreed to fund my 401(k) at a pace where I can quit in about 25 years—not so I can stop working but so that I have options. I will retire at 101.
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Perhaps the most common indictment of America’s legendary prosperity is wage stagnation.
But do these numbers remotely describe the life you have lived over the past 45 years or square in any way with numerous official measures of changes in what Americans actually own and consume?
Continue reading “The Democrat Myth of Wage Stagnation”
As we draw closer to the primaries, more and more talk from the left will be focused on the “failure of Trump’s tariffs”.
Of course, nothing could be further from the reality of the true business world in international trading!
Continue reading “Bone up on “Tariffs””
As our nation languishes in the throes of Russia, Russia, Russia… we are no closer to a fair and honest presidential election in 2020.
The highly overrated, and totally political, Mueller report has dominated the news all this week, we still are being lied to and misled by the Democrats and their unholy ally, the media.
Continue reading “Still..not the Russians”
The Democrat Socialist Party’s…along with the media’s usual crew of sycophants… all hail their new darling … South Bend’s Mayor Pete Buttigieg!!!
His last name is a mouthful, but Mayor Pete would rather have his mouth on his “husband” Chasten Glezman Buttigieg! Chasten Buttigieg, the husband of presidential candidate Pete Buttigieg, said his husband’s campaign is about love.
Continue reading “Mayor Pete…… not so fast!”
In 2017, Congress passed the Tax Cuts and Jobs Act.
Many of the jobs it is creating, it turns out, are in the tax industry.
Continue reading “Trumps new tax law…”
Four Republican senators have now said they would oppose the nomination of former restaurant executive Herman Cain to the Federal Reserve board, effectively dashing President Trump’s hopes of putting a political ally on the powerful body.
Continue reading “Mitt Romney’s butt still hurts”
The stock market is likely to struggle between now and the Nov. 6 midterm elections.
And it isn’t because stocks favor one party or the other.
It’s because investors hate uncertainty, and these elections create a healthy dose of just that.
If anything, this year’s election season appears to be creating an above-average amount of uncertainty, given the particularly large number of Republicans who have already announced that they won’t run for re-election—most prominently House Speaker Paul Ryan.
Why are the midterms so significant?
The professors point to an economic-policy created by three finance professors…but seriously, folks…. one does not normally play golf in a thunderstorm!
But what about another piece of traditional wisdom: “Sell in May and go away,” also known as the “Halloween indicator”?
These old saws say that the stock market is far stronger over the six months between Halloween and May Day than it is over the other half of the year.
But, that’s for the poor sod’s whose revenue stream depends heavily on investments!
As for Old Johnson, I’m hanging out my “psychic reading” shingle!
With utilities in the U.S. and around the world increasingly moving toward smart grid technology and other upgrades with inherent cyber vulnerabilities, correlative threats from malicious cyber attacks on the North American electric grid continue to grow in frequency and sophistication.
Continue reading “Cyber Threat and Vulnerability Analysis of the U.S. Electric Sector”