Good afternoon,
How many other emails did you get last week that included a screaming chicken from a Pontiac Trans Am? Not many I’d guess. You’re welcome.
Move along, nothing to see here.
We can’t name any names, but it appears that some relatives close to high-ranking government officials have been buying (or in some cases selling) stocks in certain industries in advance of votes that may affect those industries. What good timing, right? I’ve said for years that you can’t time the market, but maybe if you’re in close contact with a high-ranking government official, your luck is better. Apparently, that’s not illegal, yet, but certainly smells funny. Just another reason why the average person distrusts government.
This survey says that only 21% of voters think that most members of congress deserve reelection.
https://news.gallup.com/poll/394685/voters-eagerness-reelect-incumbents-near-lows.aspx
Hmmm. That seems like a 21% margin of error.
But it’s also true that there was always that one rebel dentist who didn’t recommend Trident.
Correlation doesn’t mean causation, but why are 5 of the richest counties in the U.S. in close proximity to Washington D.C.?
https://www.usnews.com/news/healthiest-communities/slideshows/richest-counties-in-america
Of course, they are. Maybe it’s time for the WMR to stop resisting and sign with the other team. Nice cushy government job, good salary, nice pension, weekends off, 11 federal holidays off, not sure if they ever fire anyone…. maybe something to think about.
Detroit is one of the world’s greatest places to visit? Time magazine thinks so.
I’ve been in and out of the Detroit area for my entire life and I can say that it’s better now that it probably ever has been. We definitely had some rough times, but nice to see that we’re getting some recognition. If you do come here though, there are still some sketchy neighborhoods that I would suggest you avoid.
Will there be a recession? If so, when, and how bad? Don’t know, but it sure seems like the press is trying to talk us into one.
I was chatting with a new acquaintance last week who is a structural engineer, and she was telling me that her firm is as busy as ever. Which would indicate to me that things are not that bad. Yes, prices are up. Yes, there are supply issues. Yes, inflation is a problem. But I would argue that structural engineering work is a leading indicator. They’re planning buildings and factories that are years away from actually being constructed. Along with help wanted signs in every shop and restaurant, those don’t seem like recessionary signals. Doesn’t mean that we won’t have one, just seems like the press might be catastrophizing a little. Or a lot.
This week’s crypto commentary, if I were to write one, which I’m not really supposed to do as cryptocurrencies are not a current offering by my firm, would be something along these lines.
Here are 10 states which are leading America’s crypto currency industry. Whatever that means. The ranking is based upon multiple factors, including computational power, business friendliness and the cost of electricity in that state.
https://www.cnbc.com/2022/07/18/these-are-the-10-states-leading-americas-crypto-industry.html
Spoiler alert, the #1 spot goes to Nebraska. And despite the efforts of the mayor of Miami to make that city a crypto hotspot, FL did not make the list. Not yet.
Turns out my daughter was spot on with her assessment of the aroma of NYC.
https://nypost.com/2022/07/14/nyc-odor-complaints-reach-disgusting-all-time-high/
Ewww.
This week’s chuckle is the umpire scene from the movie Naked Gun. Enjoy. https://www.youtube.com/watch?v=LyghaQMO5HQ
Safe for work.
LF28 – “Like our stomachs, our minds are hurt more often by overeating than by hunger.” – Petrarch.
Have a great week and stay healthy.
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Michael J. Acho, MBA, CFP®
Private Wealth Advisor
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