Morning Commentary
After President Obama’s midterm shellacking, he hit the road for Asia. There is a chance that he could take an even bigger drubbing from his Chinese counterpart, President Xi Jinping.
China has been on a roll, having overtaken America in steel, mobile phones, beer, copper, net foreign assets, exports, fix investment, manufacturing output, energy consumption, car sales, and patent granting.
Now, it is only a matter of time before China surpasses America in other critical categories, including Gross Domestic Product (GDP).
China Overtaking America |
Year |
Steel consumption |
1999 |
Mobile phones |
2001 |
Beer consumption |
2002 |
Copper consumption |
2002 |
Net foreign assets |
2003 |
Exports |
2007 |
Fixed investments |
2009 |
Manufacturing output |
2010 |
Energy consumption |
2010 |
Car sales |
2010 |
Patents granted |
2010 |
Retail sales |
2014 |
Using President Obama’s visit as an announcement to the world, China is ready to lead the opening salvo that includes:
The Silk Road is an ambitious plan that takes China's sphere of influence beyond Asia.
We discussed this topic on my show last night, and some felt I was “putting America down.” Make no mistake, we are still number one. However, to rest on our laurels any further would be a colossal misstep. The world is nipping at our heels; we can be quiet for fear of sounding unpatriotic, or we can sound the alarm.
There are aspects of China's economy that was once characteristic of America's economy, and there are things currently with our economy that used to be characteristic of China’s. Let’s be clear, China is all about graft and connections, but America has seen an avalanche of new rules and regulations driving the entrepreneurial spirit underground... or to higher ground.
The first time we put our economy in neutral was in the 1970s when we owned everything. Japan began exporting Datsuns (small cars) and transistor radios. Yes, there was hysteria about Japan overtaking the United States and it did not happen... I think China learned something from that.
Salute a Vet
Hey baby, what you know good
I'm just gettin' back, but you knew I would
War is hell, when will it end?
When will people start gettin' together again?
Are things really gettin' better, like the newspaper said
What else is new my friend, besides what I read
Can't find no work, can't find no job, my friend
Money is tighter than, it's ever been
Say man, I just don't understand
What's going on across this land
Ah, what's happening brother?
Yeah, what's happening? What's happening my man?
-Marvin Gaye
Happy Veterans Day... we would not be here without you, Our Nation’s Heroes.
On Sunday, Richard Overton, America’s oldest WWll veteran celebrated his 108th birthday with a little whiskey and a cigar. Mr. Overton served from 1942 to 1945 in Palau, Iwo Jima, and Guam… my daughter is one- quarter Guamanian and one quarter- Palauan.
We can never forget or take for granted veterans’ sacrifices as they exemplify what America is all about: more than Wall Street, professional athletes, and TV anchors.
It is so easy to wake up each day, and to get involved with our day-to-day stuff that is ultimately trivial compared to all the lives of those who came before us, especially those who have fought, and those who will do so in the future to defend our country in order to allow us to enjoy freedom.
The veteran unemployment rate is coming down, yet it is still too high.
Since September 11, 2001: Unemployment 7.2%
In the meantime, maybe the reason there is such a lack of leadership in Washington, DC is the fading presence of vets in Congress. The 94th Congress of 1975-76 had 73 vets among its 100 senators and Americans elected 347 vets out of 435 House members to represent them in the 95th Congress. Those numbers dwindled down to 85 vets in the House and only 19 in the Senate for the 113th Congress.
This trend is reversing after last week’s midterms that saw newly elected vets:
Senate:
House:
Today’s Session
Earnings for the most part have come up short this morning, but equity futures have edged higher. There’s a little angst creeping into the market that might be addressed when retailers begin releasing their financials later in the week.
Company |
Ticker |
EPS (Actual) |
EPS (Est) |
Rev (Actual $M) |
Rev (Est $M) |
American Apparel |
APP |
-0.11 |
-0.04 |
$155.90 |
$162.40 |
Atlas Energy* |
ATLS |
-0.18 |
-0.10 |
$863.98 |
$872.10 |
Caesars Entertainment |
CZR |
-6.29 |
-1.72 |
$2,212.10 |
$2,240.05 |
Magic Jack |
CALL |
0.18 |
0.14 |
$25.80 |
$27.99 |
DR Horton |
DHI |
0.45 |
0.48 |
$2,423.30 |
$2,413.87 |
QIWI |
QIWI |
21.05 |
16.31 |
$2,379.00 |
$2,202.54 |
* = Open WSS Idea
Tweet |
3/28/2024 7:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
3/12/2024 9:25 AM | ROTATION IN FULL SWING |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|