Good afternoon,
Back in town and back in the swing. However, I do have to mention that when I got back in my truck upon my return from FL late the other evening, the outside temperature read 8 degrees. Which brings up the obvious question, WHY?
Every time we tune in, our government gives us yet another reason to doubt their sincerity/authenticity/truthfulness/pick your adjective. A vice chairman of the Federal Reserve, you know those loyal public servants in charge of our MONETARY POLICY (emphasis added is mine) has been forced to resign due to inappropriate behavior with his stock trades during the pandemic.
Yep. Seems like this vice chair had a little more on his mind than interest rates and inflation.
Not to be outdone, house speaker Nancy Pelosi is garnering votes as 2021 portfolio manager of the year.
https://www.foxbusiness.com/kudlow/kudlow-nancy-pelosi-trading
Wait, you thought she was looking out for us as our faithful representative in that Washington swamp? Turns out she and her husband may have made as much as $30 million last year with stock trades and dividends. All while she presides over various hearings about various industries and companies and so forth. Is it just me or does that seem more than a little fishy? And that’s just the trades that we know about because she had to report them. Reminiscent of her maskless haircut last year after espousing lockdowns and quarantine for everyone else, it would appear that Washington rules are indeed “rules for thee but not for me.” And these are just the most recent examples. So how can we believe anything else they say? At all….
However, there is a recently introduced proposal which would ban trading by congress members, https://www.newsweek.com/senators-jon-ossoff-mark-kelly-introduce-bill-ban-stock-trading-congress-members-1668866
I’ll believe it when I see it.
And it ain’t just the pols acting like hypocrites, Leonardo DiCaprio is taking some heat for vacationing on a 315 foot yacht with some friends. Which isn’t a crime by any stretch and frankly I’m happy for him. Luxury yachts are nice. And fun. I’ve had the good fortune of visiting a few of them from time to time. And if you have the means, Leo certainly does, I’d recommend it. Just don’t lecture the rest of us about climate change when your yacht spews more carbon turning around than my SUV does in a year. That’s condescending and disingenuous at the least. Are you listening Al Gore?
https://www.mirror.co.uk/3am/celebrity-news/leonardo-dicaprio-accused-being-eco-25895085
Just to show that I don’t hate Leo, here is the trailer to his most recent Netflix movie, “Don’t Look Up,” with Jennifer Lawrence..
https://www.youtube.com/watch?v=RbIxYm3mKzI
Here is your review since I watched it the other night. Spoiler alert, they are scientists who discover a comet barreling towards Earth which will wipe out the planet in 6 months if we don’t do something. Which is kind of an interesting premise. But no one believes them, then there are politicians who try to use it to their advantage and businessmen who attempt to profit from it and the country divides into 2 camps, those who should “just look up” and acknowledge the coming doom and those comet deniers who advise “don’t look up.” Not a terrible movie if you’ve got no better options, but not great by any stretch. There are better options I’m sure. I give it a “meh” rating.
I’ve mentioned Elon Musk in the WMR many times because I’m a fan and he’s an interesting guy. There is no denying his business success. But he’s also super smart. Don’t believe me? Listen to this Lex Fridman podcast with Elon. They cover a wide range of subjects and Elon’s brainpower is on full display.
https://www.youtube.com/watch?v=DxREm3s1scA
Another smart guy, Jamie Dimon, Chairman of JPMorgan Chase, is forecasting the best economic growth in decades.
That’s cool. His opinion is just about as good as anyone else’s and let’s hope he’s right.
Peter Schiff disagrees. He says inflation will push the economy into recession.
https://moneywise.com/investing/stocks/peter-schiff-inflation-will-push-into-recession
Hmmm. His opinion is just about as good as anyone else’s too.
This week’s crypto commentary is simply an observation of the fluctuating prices of various coins.
Be careful out there in crypto land. As I’ve mentioned many times, my firm does not allow me to transact crypto currency.
“The WMR is boring when you don’t mention me.” Said my daughter last week.
You didn’t like my covid and coconuts message?
“Nope. Snoozer.”
Well tell me something you’re doing that’s worthy of inclusion.
“I’m rushing sororities. I have the same conversation over and over again with girls from different sororities as we get to know each other. And we do it all virtually.”
That’s gotta be tough to get a feel for a sorority over Zoom.
“They tell us on Sunday which house we match with. That’s in person. All the girls get envelopes with the house that chooses them and we all open them together and then we get to meet our fellow pledges.”
Wow. That’s not exactly how it went when I pledged a million years ago but good luck. Hope you get the place you want.
As I registered for a website from one of my product partners, they asked for a security question, as many of them do, but this was the first time I ever saw this question…
What was the first video game you played?
Wow. That’s a good one, my answer, Pong. No one is going to guess that. Member pong? https://en.wikipedia.org/wiki/Pong
This week’s chuckle is Johnny Carson with a politician lie detector test. As accurate now as it was when he did it in 1982.
https://www.youtube.com/watch?v=hef7v6fp_DQ
LF28 – “Be thankful we’re not getting all the government we’re paying for.” – Will Rogers.
Have a great week and stay healthy.
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Michael J. Acho, MBA, CFP®
Private Wealth Advisor
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