WE DID IT !!!!!! Congratulations to ALL!!!! It was definitely a TEAM effort amongst ALL Americans.. I am not sure the EXACT time (You know, Daylight Savings ending and all that) but, at some point this weekend the National Debt hit $23 TRILLION DOLLARS !!! WE are responsible for this mess. WE keep electing these idiots in Washington. Obama DOUBLED our debt and there was hope that the Republicans and the Evil Orange man would get it under control. NOPE!!! He keeps adding to the pile.. and if he gets re-elected we'll be spending $2 Trillion on infrastructure (at least that will keep people employed and fix our roads) and another $25 Billion on the rest of the border wall.. Is there any way OUT of this mess? .. and....
Speaking of "The Wall" the "rhetoric and spin" is just getting dizzying. The "NEW" story is that a group of drug smugglers are actually sawing through the steel bollards. The stories being spun by the Loser Media and the White House are laughable. First, Loser Media: "Trump is lying. The Wall isn't REALLY being built. There are only tiny sections of Wall being built". White House: "Miles and Miles of Glorious Wall are going up and it is virtually impenetrable". Loser Media: "Drug Smugglers are now using reciprocating saws that you can get for $100 to cut the bollards" (Umm.. Cut WHAT? If there is no Wall being built..what are they cutting??). White House: We have a STRONG wall. (not gonna use that "Impenetrable" word anymore, I guess). LOOK.. You want REAL answers? Read the quotes of the ACTUAL Border Patrol. (The people on the ground, not the suits). A group of smugglers DID cut through a few bollards. Then PUT THEM BACK in an attempt to keep re-using the spot without having to cut more bollards. The Border Patrol says they weld them back but the smugglers will continue. "No Wall is perfect and we just re-weld and keep monitoring. The Wall definitely helps deter most people. But, the smugglers will keep trying because the pay is too good to stop". See, that is the MOST reasonable comment, right? Ignore the Long Media stories.. Ignore the politicians.. watch the interviews of REAL Border guards..... and...
I usually try to throw in some "World News" here but there isn't much to say. Still protesting in Hong Kong. Iraqis stormed the Iranian consulate in Kabala, throwing molotov cocktails and raising an Iraqi flag (uhh.. ok.. why is there an Iranian consulate there, anyway. They hate each other).. and Comedian Ricky Gervais is "under fire" as a trans-phobe in the UK for making fun of a Canadian man/woman that sued a Waxing salon for refusing to wax her testicles. (Don't you laugh now when loser media says, "under fire" ?? We all know it means a handful of miserable twits complaining Social media and loser media calling it "Widespread Outrage". No, sorry.. its NOT widespread. It's a few hundred angry pr*cks. In reality, A few BILLION are laughing.. and the other 5 Billion have no clue who he is)...Oh, and Ricky does NOT care.
Back in the USA: The California wildfires continue and Gov Newsome is "threatening" a State takeover of PG&E if they cannot "get this under control" HAHAHAHA.. AHHAHAHHA.. Really, Gavin? Take it over? You have fires, sanctuary cities, 55,000 homeless on the streets of LA ALONE. You can't properly run a LEMONADE STAND and you want to run an Electric Utility?? .. AHHAHAH... and...
McDonald's CEO, Steve Easterbrook, was fired this weekend. He is in a "consensual relationship" with another McDonald's employee and the Board found out. That's a "No-No" at McDonalds. So, he is GONE!!.. My old friend Val (God rest her soul) had a grandmother that said at age 92, "Val, honey. There are millions of men in this Country. Don't get your meat where you get your bread"... Sage advice ... and...
In da Swamp: BETO IS OUT . (No, he isn't out of the closet. He is out of the race). Robert, call me BETO, O'Rourke is OUT of the race for President. Apparently, the "You're Damn Right Im gonna take your guns" wasn't the best campaign slogan... Kamala Harris has been firing staff.. so she is likely the next to bail ... and...
Purple Hearts for Dogs? When I read the suggestion I thought that was kinda disrespectful to Veterans. It seems some Combat Vets are telling Raj, "UHHHH.. NO.. " .. They are behind the idea saying that dogs like Conan (the hero dog from the raid that killed the isis leader) SHOULD be awarded medals. "They are there with us on the ground and help in ways that men and technology cannot" . ..So, I guess I am ALL FOR IT, then. Do they get retired after?.. and get unlimited chew toys and Milk Bones? ..
SPORTS: NFL: Disaster in Indianapolis. QB Jacoby Brissett had the Colts 5-2 but went down this week. If he is out for the year they are done... the Packers got Packed by the Chargers 26-11 and QB Rogers said the team "must have been reading too many papers and believing the hype. This was a wake up call"...and ESPN asks "what is wrong with the Jets and the Bears"?? Ill answer: The Bears lost to a good Eagles team and slipped to 3-5 and are "average". The Jets lost to the winless Dolphins and are JUST PLAIN AWFUL from head to toe... and...
GOLF: Rory McIlroy wins the WGC in China in a playoff.. and Brendon Todd wins the "Other Guys" event in Bermuda ... and...
The NYC Marathon was run yesterday.. 55,000 Runners and over a million spectators. If you have never been, you should give it a go one year.. As you know, Raj is the one that declares the "Winner" of all events. Of course, the Kenyans finished the race in the fastest time.. but the WINNER of the NYC Marathon was the man (actor, street performer...who knows.. ) who was FULL ON dressed as Jesus Christ... robes...long hair.. beard.. .standing at mile 25.2 just as the runners ran along Central Park.. Holding a big sign for the Runners as they passed: "THE END IS NEAR !! " AHHAHAHAHA.. How awesome is THAT???
CELEBRIDIOTS: RIP to "Rudy" from Survivor. Rudy Boesch passed away at 91. He was a Navy Seal who rose to fame as the old man from the first "Survivor".. also RIP to actor Brian Tarantina (most recently from Miss Maisel) dead at 60 of an apparent OD... and...
Baby Boobs.. Emma Bunton (also known as "Baby Spice" from The Spice Girls) is touring with some of the Spice Girls. She was texting with her mom about how much she missed her boyfriend.. Then.. she texted her boyfriend about how much she missed him..and included a "naughty" pic of her boobs... except.. she clicked "Send" and realized she was still on her MOM'S text !!! Yup, she SEXTED her mom!!! .. Ya know.. if she was 16 years old that would be a problem.. at 43 years old I am sure they are laughing... Let's hope her mom doesn't leak it to the press for beer money.... and...
"You Better Shape Up.. cuz I need a man..." The outfit that Olivia Newton John wore at the end of the movie, "Grease" hit the auction block. Tight Black Leather Pants, boots and black sweater and coat.. it sold for $405,000. WOW.. ... now..she was SMOKIN HOT in that.. . HERE ... but $405k for some smelly old clothes? SOMEONE has more money than they know what to do with... and at least ONE weird fetish...
From Seekingalpha.com
Shares of the state-owned oil giant are set to begin trading on the Saudi stock market in early December, while the IPO prospectus will likely be released on Nov. 10. The Capital Market Authority did not list a time frame or say how much Aramco (ARMCO) would sell, but sources told Reuters the oil giant could offer 1%-2% of its shares on the local bourse, raising as much $20B-$40B. Producing one-tenth of the world's crude output, Saudi Aramco is the world's most profitable company, making $111B in net income in 2018. Go deeper: Bearish on the listing, Robert Boslego discusses the Aramco IPO.
A surprise announcement over the weekend revealed the ousting of McDonald's (NYSE:MCD) CEO Steve Easterbrook for having a consensual relationship with an employee. "This was a mistake. Given the values of the company, I agree with the board that it is time for me to move on," Easterbrook wrote in an email. Chris Kempczinski, who previously ran McDonald's U.S. business, will replace him, though he will have big shoes to fill. MCD shares doubled during Easterbrook's tenure as he revived all-day breakfast options and a charge into online ordering and delivery. MCD -2.2% premarket. Go deeper: Aristofanis Papadatos revisits his 'Never Short McDonald's' thesis.
A new probe by the Justice Department and SEC is looking into Under Armour's (NYSE:UAA) recognition of revenue, and whether numbers were shifted around to artificially improve results. The news surfaced before the athletic apparel company's earnings report tomorrow, which will be released before the opening bell. Ahead of the results, Under Armour said it has been cooperating with federal authorities on the issue for a couple of years, and "firmly believes" its accounting practices and disclosures are appropriate. Go deeper: Under Armour's turnaround is just getting started, says Michael Henage.
Equities rose across the globe overnight, with Hang Seng climbing 1.7% to lead gains in Asia, the Europe Stoxx 50 up by 1% and DJIA futures pointing to another 100-point advance at the open. There's lots of optimism surrounding trade. U.S. Commerce Secretary Wilbur Ross said positive talks being held with automakers in Europe and Japan may mean tariffs could be avoided on cars being imported into the U.S., while licenses for American firms to sell to Huawei will be granted "very shortly." A surprise jobs number on Friday saw American employers add 128K jobs in October - comfortably beating an estimate of 89K - adding to the upbeat market sentiment. Go deeper: Risk/reward has improved for some aggressive strategies, writes Jeff Miller.
Driven in part by the U.S.-China trade war, Southeast Asian countries committed to signing a major Asia Pacific trade pact in 2020 that would cover a third of the globe's gross domestic product. "This will significantly contribute to an open, inclusive and rules-based international trading system and expansion of value chains," current chair Thailand announced at the 35th ASEAN Summit. RCEP involves all ten Southeast Asian nations and six of their large trading partners: China, Japan, South Korea, India, Australia, and New Zealand.
The U.K. suddenly ordered a total freeze on fracking operations on Saturday, citing public safety after a series of tremors. It signals a major shift in policy for Boris Johnson's conservative government, which previously supported the fracking industry as a way to cut Britain's reliance on foreign energy imports. Business Secretary Andrea Leadsom told BBC Radio that the moratorium will stay in place for the foreseeable future, or until scientists say fracking can be done safely.
Contract talks with Detroit automakers will not be impacted by the leave of absence of UAW President Gary Jones, who has been linked to an ongoing corruption probe by U.S. federal officials. That's according to a statement from the union, which is "fighting tooth and nail to ensure our members have a brighter future." Jones will be replaced on an acting basis by Rory Gamble, who recently led the team that negotiated a new labor deal with Ford (NYSE:F) that is awaiting final ratification. A deal with General Motors (NYSE:GM) has already been sealed, while talks with Fiat Chrysler (NYSE:FCAU) are set to begin shortly.
Microsoft Japan (NASDAQ:MSFT) appears to have found the perfect recipe to Monday morning blues and it actually led to an almost 40% jump in productivity levels for its workforce. The firm experimented with a four-day workweek this past August - giving Fridays as paid leave - and 92% of employees said they were happy with the program by the end of its run. Printing 58.7% fewer pages and using 23.1% less electricity, Microsoft Japan is planning to conduct a similar work-life challenge this winter.
"We should be happier to have a job than to have our savings protected," declared Christine Lagarde as the incoming ECB President criticized Germany and the Netherlands for the sin of having a government budget surplus. Lagarde, of course, comes over from the IMF, an organization that has never met a currency debasement it wasn't in favor of. Her comments suggest she's not only going to continue flooding markets with euros, but she will now break from ECB tradition and go after individual states that don't toe the line. Go deeper: Stay tuned as Lagarde gives her first official speech later in the session.
Citing its intent to expand its plan to include health insurers, the White House is delaying the implementation of a rule requiring hospitals to disclose heretofore confidential rates for services. U.S. Centers for Medicare and Medicaid Services chief Seema Verma said the Trump administration prefers a less disjointed approach and will proceed expeditiously to release a combined plan this quarter to rein in ever-increasing healthcare costs. Hospital operators, which consider negotiated rates as contractual trade secrets, have stated publicly that they will sue to block the rule.
What else is happening...
Insurance investment income boosts Berkshire's (BRK.A, BRK.B) Q3.
Disney's (NYSE:DIS) Bob Iger on Star Wars: 'Less is more.'
Malaysia snubs 1MDB offer from Goldman Sachs (NYSE:GS).
China is so far the best-performing market of 2019.
See statistics as tariff exclusion requests pile up.
Latest Brexit drama... MPs vote on new Commons Speaker.
Today's Markets
In Asia, Japan closed. Hong Kong +1.7%. China +0.6%. India +0.3%. In Europe, at midday, London +1.1%. Paris +1.2%. Frankfurt +1.2%. Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.7%. Crude +1% to $56.77. Gold +0.1% to $1512.70. Ten-year Treasury Yield +3 bps to 1.75%
Today's Economic Calendar
Auto Sales 10:00 Factory Orders 12:30 PM TD Ameritrade IMX 3:05 PM Fed's Daly Speech
Regards,
Roger “Raj” Searing rajsearing@gmail.com
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