Last Friday, President Trump announced his pick for one of two vacant Federal Reserve board of governors seats.
If the candidate, Stephen Moore, gets through the vetting process and is confirmed by the Senate, he could be the ultimate infiltrator who upends the Fed, meaning he’ll brings about its destruction.
That would be great because the Fed’s a private central bank that owns the United States’ currency, sets interest rates that affect every aspect of the economy, and bails out its constituent big bank owners when they implode themselves chasing profits.
There’s a magical unicorn coming our way, and we’re being offered a ride high into profitable skies if we grab its horn and jump on.
At least that’s what Lyft’s IPO bankers and early investors want us to believe.
The truth is there’s no such thing as a unicorn in real life (in business, a unicorn is a private company that investors claim is worth more than $1 billion), and Lyft isn’t any kind of highflying substitute.
What the upcoming Lyft IPO is more likely to be is a fat payday for bankers, underwriters, and especially early investors, and a bucking-off of late-to-the-party IPO share buyers.
Bayer AG (OTC:BAYRY) is under fire now as a jury found that a man developed cancer from exposure to Roundup weed killer. This is the second case to go to trial over the allegations – and there are more than 11,000 pending lawsuits that claim the same. And according to Shah Gilani on Varney & Co. this morning, an 11% drop in stock price is only the beginning of the hardships to come for Bayer… Click here to watch.
When it comes to the FAANG Stocks – Facebook, Amazon, Apple, Netflix, and Google – plus Microsoft, it can be difficult to choose which one of these heavy hitters to invest in. But with Microsoft being about 2.5% away from its all-time high and being the most resilient amidst the turbulence of October through December 2018, Shah Gilani says that Microsoft would be the one to buy… Click here to watch.
Last week at the South by Southwest (SXSW) Conference & Festival in Austin, Texas, freshman New York congresswoman Alexandria Ocasio-Cortez (AOC, for short) pronounced capitalism as being “irredeemable.”
While I’m cautiously optimistic there will be a trade dispute announcement out of the proposed late March summit between President Xi Jinping and President Trump, it won’t be great.
In fact, it will probably be just enough of a positive kind of “we’re going to keep working on it and agree to agree” announcement, with lots of concessions and positives to move the markets up, possibly to new highs.
My optimism is based on the needs of both presidents to make nice for their own reasons.
President Trump wants the stock market to go a lot higher and knows clearing the economic forest of tariffs and uncertainty will do that.
President Xi desperately needs a deal because China’s economy is slipping into indebted slow-growth (and possibly stagnation) and exports are still China’s lifeblood.
But, there’s a big difference between the removal of tariffs and a comprehensive trade deal that covers what’s really at the bottom of the two nations’ “trade” dispute.
And the chance of that happening is exactly between slim and none.
Unsurprisingly, the markets are dead flat this morning as they hang on every word that comes from Washington and China. As our very own Shah Gilani has said multiple times on Fox Business’s Varney & Co., he believes that the markets will remain flat until we get a deal – and a positive one, at that. Once the news hits, it’ll be enough to move the market higher… Click here to watch.