The Morning Call---US public debt is unsustainable

 

The Morning Call

 

4/9/24

 

The Market

         

    Technical

 

            Monday in the charts.

            https://www.zerohedge.com/markets/bitcoin-bullion-back-near-record-highs-rate-cut-hopes-hammered

 

            Hedge funds dumping consumer stocks.

            https://www.zerohedge.com/markets/did-something-change-goldman-trading-desk-warns-hedge-funds-are-dumping-consumer-stocks

 

            Bond yields likely to stay elevated.

            https://www.zerohedge.com/markets/yields-stay-elevated-inflation-emboldens-short-bond-trade

 

            The potential for shrinking liquidity.

            https://www.zerohedge.com/markets/next-several-weeks-we-could-see-300-billion-liquidity-leaving-system

 

            China’s gold buying frenzy.

            https://www.zerohedge.com/markets/china-gold-buying-frenzy-sparks-chaos-etfs

 

  Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

The March small business optimism index came in at 88.5 versus forecasts of 90.2.

                          https://www.zerohedge.com/markets/us-small-business-optimism-slides-11-year-low-bidenomics-fails

 

                        International

 

The March Japanese consumer confidence index was 39.5 versus expectations of 39.7; March YoY machine tool orders fell 8.5% versus -5.0%.

 

                        Other

 

            The Fed

 

              Will sticky inflation kill the prospects for a rate cut?

              https://www.capitalspectator.com/will-sticky-inflation-kill-prospects-for-rate-cuts-in-2024/#more-21950

 

            Fiscal Policy

 

              US public debt is unsustainable.

              https://www.zerohedge.com/markets/why-us-public-debt-unsustainable-and-destroying-middle-class

 

            Inflation

 

              Jamie Dimon on long term inflation.

              https://wolfstreet.com/2024/04/08/what-jamie-dimon-said-about-long-term-inflation-fed-interest-rates-2-to-8-or-even-more-and-qe-qt/

 

              Odds of $100/barrel oil are rising.

  https://www.bloomberg.com/news/articles/2024-04-07/are-oil-prices-heading-to-100-this-summer-as-a-global-shortage-takes-hold?srnd=homepage-americas&sref=loFkkPMQ

 

            Recession

 

              The case for a ‘slower growth/muddle through’ scenario.

              Inflation Scare Or Much Ado About Nothing? - RIA (realinvestmentadvice.com)

 

              The case for recession.

              https://econbrowser.com/archives/2024/04/steve-hanke-says-the-recession-cometh

 

              Update on big four recession indicators.

              https://www.advisorperspectives.com/dshort/updates/2024/04/05/the-big-four-recession-indicators-march-employment

 

              RecssionAlert weekly leading economic index.

              https://www.advisorperspectives.com/dshort/updates/2024/04/05/recession-weekly-leading-economic-index

 

            China

 

              Yellen implores China to rethink growth strategy.

  https://www.bloomberg.com/news/articles/2024-04-07/yellen-advances-us-china-ties-despite-tough-criticism-on-exports?srnd=homepage-americas&sref=loFkkPMQ

 

 

     Bottom line.

 

            The power of dividend growth portfolios (skip over the first section of the article).

            https://www.advisorperspectives.com/commentaries/2024/04/06/crisis-cycle-investing-mauldin

 

    News on Stocks in Our Portfolios

 

 

 

What I am reading today

 

           

                        Was Caligula mad or just misunderstood?

            Was Caligula mad—or just misunderstood? (nationalgeographic.com)

 

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