Welcome to September!
For those of you that like summer, my condolences, it's officially over. For those that prefer the fall, congratulations, you are almost there. I'm in the former category.
Questions continue to abound about what this market will do next. Or more specifically what Mr Trump will tweet next. Markets are undecided and continue to move back and forth. GOLD however is not undecided and continues to increase in value.The biggest questions are about the US China trade deal and what will eventually come of it. Not to mention interest rates, Iran, Brexit, elections here and to the south (although elections here really don't matter much anywhere else!)
From Bloombergs Cormac Mullen
With the damage from last week’s Donald Trump Tweetstorm still being assessed, here’s the long-range Trump Twitter weather forecast. There are a number of worrying pressure situations forming on the horizon. Tweetstorm Xi could hit Sept. 1, should China respond to the next tranche of tariff increases. We’ve already seen how Trump reacted on Twitter to retaliatory tariffs from Beijing -- increasing tax rates and ordering U.S. companies out of the country -- stocks sold off and bonds jumped. Then, Tweetstorm Mario may arrive Sept. 12 if ECB policy upsets Trump -- remember Mario Draghi signaled last month that all options are on the table, including QE. Tweetstorm Jerome is expected to make landfall Sept. 19 when the Fed announces its rate decision. Markets are hoping for a 50 basis point cut, leaving room for disappointment if it’s just 25 -- Trump is already disappointed. Finally, Tweetstorm Jinping could come around Oct. 1., the 70th anniversary of the People’s Republic of China and the date of further tariff increases. China is unlikely to make trade concessions in this period, so the potential for Trump reaction is high. September is North Atlantic hurricane season -- it’s likely to be for Tweetstorms as well. It’s time to heed the wisdom of experienced sailors and seek out safe harbors for the next month or so.
The average Canadian household spent nearly $40,000 in taxes in 2018, more than housing, food and clothing costs combined. The Fraser institute found the average Canadian family's tax burden last year represented 44.2 per cent of its income, versus 36.3% spent on basic necessities.
Go ahead, I dare you to vote the Liberals back in!!
Why some of us are shy
Robots peeling grapes
Robots stitching grapes back together