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Member since: Tue May 13, 2014, 06:50 PM
Number of posts: 6,392

Journal Archives

DOW Friday 8/31/18 closes at 25964

Previous close 25975. 52 wk high 26616. 52 wk low 21709. Last Friday's close 25796.

Soybeans: 8.33 at close. 52 wk high 10.71. 52 wk low 8.11

A good week.

Enjoy the Labor Day weekend everybody.

Trump says he could link cap gains taxes to inflation: Bloomberg

WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday said he is considering linking capital gains taxes to inflation, a move that could mean circumventing the U.S. Congress to give a substantial tax cut to wealthy Americans.

“I’m thinking about it,” Trump said in an interview with Bloomberg.

Only Congress can change U.S. tax law. But the administration has been trying to determine whether it has the authority on its own to change the way capital gains taxes are calculated to protect the value of capital assets from inflation.

Obviously suckers who work for the US Government don't need a pay raise, but cap gains needs tax protection.

DOW 25975

Previous close 26142. 52 wk high 26616. 52 wk low 21709. Low of the day 25934.

Soybeans: 8.19 at close. 52 wk high 10.71. 52 wk low 8.11

The US economy is in "serious economic conditions affecting the general welfare".

Title 5, United States Code, authorizes me to implement alternative plans for pay adjustments for civilian Federal employees covered by the General Schedule and certain other pay systems if, because of “national emergency or serious economic conditions affecting the general welfare,” I view the increases that would otherwise take effect as inappropriate.

Under current law, locality pay increases averaging 25.70 percent, costing $25 billion, would go into effect in January 2019, in addition to a 2.1 percent across-the-board increase for the base General Schedule. We must maintain efforts to put our Nation on a fiscally sustainable course, and Federal agency budgets cannot sustain such increases. Accordingly, I have determined that it is appropriate to exercise my authority to set alternative across-the-board and locality pay adjustments for 2019 pursuant to 5 U.S.C. 5303(b) and 5304a.

Specifically, I have determined that for 2019, both across‑the‑board pay increases and locality pay increases will be set at zero. These alternative pay plan decisions will not materially affect our ability to attract and retain a well‑qualified Federal workforce...



DOW 26142

Previous close 26050. 52 wk high 26616. 52 wk low 21673. Low of the day 26035

Soybeans: 8.25 at close. 52 wk high 10.71. 52 wk low 8.11.

26050 Dow.

Previous close 26049. 52 wk high 26616. 52 wk low 22673. Low of the day 26045.

Soybeans: 8.21 at close. 52 wk high 10.71. 52 wk low 8.11.

Judge Strikes Down Most of Trump's Executive Orders Targeting Federal Employee Unions

A federal judge has struck down most of the key provisions of President Trump’s three recently issued executive orders that are intended to weaken federal employee unions.

Judge Ketanji Brown Jackson, appointed by President Obama to the U.S. District Court for the District of Columbia in 2012, issued the decision which is more than 120 pages long.

The executive orders placed additional restrictions on unions and made it easier to fire federal employees for non-performance. See Restricting Federal Unions and Firing Poor Performers.

DOW 25796 for Friday 8/24/18

Previous close 25656. 52 wk high 26616. 52 wk low 21673. Last Friday close 25669.

Soybeans: 8.41 at close. 52 wk high 10.71. 52 wk low 8.11. Last Friday close 8.87.

Enjoy the weekend everybody.

Powell reiterates steady rate hike plan, economic strength

The main takeaways from Federal Reserve Chairman Jerome Powell's closely watched speech today in Jackson Hole, Wyoming were pretty much what Powell has indicated before: the economy is good, and interest rates are going to go up.

On the strength of the economy: "With solid household and business confidence, healthy levels of job creation, rising incomes, and fiscal stimulus arriving, there is good reason to expect that this strong performance will continue."

Between the lines: There was no mention of trade or tariffs in the speech. Why? House tells Axios:
The heightened focus on this speech means that a mention of trade policy could be viewed as too much of a foray into the President’s policy realm. Given that Fed independence is under more pressure than at any time in the past four decades, I think he’s trying to lead by example and stick to his lane.

DOW 25656

Previous close 25733. 52 wk high 26616. 52 wk low 21600. Low of the day 25608.

Soybeans: 8.42 at close. 52 wk high 10.71. 52 wk low 8.11
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