Important headlines for November 20th:

Important headlines for November 20th:  

Bottom Line: These are the stories you don't want to miss (but probably would if I didn't find them for you)...  

If the economy is the most important consideration to the average American, this is a fact. In fact, not even Reagan had as good of a first year economically as the President Trump's is shaping up to be (best economic growth in 12 years, unemployment rate in 17 and stock market performance since 1930). That's not even accounting for the significant progress made against ISIS, in Syria (which notice isn't in the news daily any longer) and with China's position regarding North Korea. There are two sides to every story but one side to facts. Independent of politics the facts are compelling. 

Excerpt: Last weekend in Beijing, as part of his 12-day trip to Asia, President Trump announced that the US and China had signed an $83.7 billion memorandum of understanding to create a number of petrochemical projects in West Virginia over the next 20 years. And yet, speaking to the locals here, you wouldn’t even know it had happened. 

The most pervasive form of media bias remains omitting information. This is another example. I cited the deal three times and until this piece hadn't heard about it anywhere else in media. Any questions? The omitting of news was so pervasive on this deal that even many in more conservative media that might otherwise report it, didn't even seem to know. 

It might seem odd that I have a borderline anti-capitalist message in today's important headlines. Why? Because it's an instructive message for those who do understand that the US stock market is the greatest wealth creation machine in the history of the world. Warren's message to attempt to demonize those associated with the wealth creation and risk taking are not only anti-American, though the story is presented in a populist way – it's instructive. The message is basically this. Wallstreet and the evil big banks caused the recession and they'll do it again without her and people like her. Side-stepping the lack of legitimacy to much or her material is this thought for you. How did the big banks and Wall Street fare during the recession? Why would they want that to occur again? And here's the most effectual point. The average historic rate of return continues to be 10.1% for stocks despite the failings of some during the Great Recession. Learning from mistakes is important for everyone. Sound regulation makes sense. Heavy-handed regulation results in pathetic Euro-like economic growth like we had during the Obama-era. The last thing we need during a period of building economic momentum is Elisabeth Warren's agenda. It's important not to be lured in by the "big banks are bad" populism. 

Until tomorrow... 

 

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