posted December 24, 2019 11:29 PM            

quote:

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Originally posted by Randall:
28,551.53

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posted December 26, 2019 07:40 PM            

quote:

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Originally posted by Randall:
Record highs again on all three indices! The DOW is at 28,621.39! Unbelievable!

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In stock market circles, it's called the Santa Clause Rally. It's the last 5 trading days in December and the 1st 2 trading days in January. Pretty reliable too, going back to the 1950s. More than 75% of these 7 trading days, the market is up an average of more than 1%. More than any other average 7 trading days during the year.

posted December 30, 2019 12:25 PM            

Trump’s Treasury Dept. handed corporations billions more in tax breaks than even the president proposed: report

(besides this expose, one must keep mind that trump unleashed more bombs on the middle east in his first 8 months than Obama ben Kenya drop in this entire reign .the economy is buoyed by phony statistics and the murder of millions of people in the middle east todd)

U.S. companies expected to cash in when Republican Donald Trump became president in 2016 but, according to a New York Times report, they found they were able to achieve a massive windfall in tax savings totaling in the billions beyond their wildest dreams due to a very compliant Treasury Department.

According to the report, President Trump’s 2017 tax cut bill was expected to dramatically increase the fortunes of American corporations but, once passed, lobbyists found that certain provisions could be finessed by applying pressure on Treasury officials who were more than willing to listen.

“But big companies wanted more — and, not long after the bill became law in December 2017, the Trump administration began transforming the tax package into a greater windfall for the world’s largest corporations and their shareholders. The tax bills of many big companies have ended up even smaller than what was anticipated when the president signed the bill,” the Times reports. “One consequence is that the federal government may collect hundreds of billions of dollars less over the coming decade than previously projected. The budget deficit has jumped more than 50 percent since Mr. Trump took office and is expected to top $1 trillion in 2020, partly as a result of the tax law.”

Happy Holidays! As a special thanks for your support this year, you can get Raw ad-free for just $2 a week. Now until Dec. 31.

Reporting that in 2018, “senior officials in President Trump’s Treasury Department were swarmed by lobbyists seeking to insulate companies from the few parts of the tax law that would have required them to pay more,” the Times adds that, “The crush of meetings was so intense that some top Treasury officials had little time to do their jobs, according to two people familiar with the process.”

One key element of the Trump tax bill was a set of proposed major new taxes on companies who had avoided paying their fair share by claiming their profits were earned outside the United States.

Lobbyists for a “cross-section of the world’s largest companies, including Anheuser-Busch, Credit Suisse, General Electric, United Technologies, Barclays, Coca-Cola, Bank of America, UBS, IBM, Kraft Heinz, Kimberly-Clark, News Corporation, Chubb, ConocoPhillips, HSBC and the American International Group,” worked in concert to gut that provision.

“Through a series of obscure regulations, the Treasury carved out exceptions to the law that mean many leading American and foreign companies will owe little or nothing in new taxes on offshore profits, according to a review of the Treasury’s rules, government lobbying records, and interviews with federal policymakers and tax experts,’ the Times reports. “Companies were effectively let off the hook for tens if not hundreds of billions of taxes that they would have been required to pay.

According to Bret Wells, a tax law professor at the University of Houston, “Treasury is gutting the new law. It is largely the top 1 percent that will disproportionately benefit — the wealthiest people in the world.”

“It is the latest example of the benefits of the Republican tax package flowing disproportionately to the richest of the rich,” the report continues. “Even a tax break that was supposed to aid poor communities — an initiative called ‘opportunity zones’ — is being used in part to finance high-end developments in affluent neighborhoods, at times benefiting those with ties to the Trump administration.”

posted December 31, 2019 07:54 PM            

Tuesday, White House assistant for trade and manufacturing Peter Navarro predicted 2020 would be another great year for the economy.

posted January 10, 2020 11:53 PM            

quote:

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Originally posted by Randall:
The DOW crossed over 29,000 today!

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posted January 16, 2020 11:36 AM            

The Crash will be epic, not because economy is having an issue but because of illogically high volume of cash pumped by the Fed when there was no need for Quantitative Easing.

When will the crash come?

posted February 27, 2020 12:49 PM            

Once certain values are seen, Global Events are synchronized to cause Black Swan Events.

In the worst case, Dow will crash to 16-18K range.

In the best case, we will see support at 26K, rally back to 30K which if a double top, collapse to 23K and then stability there till elections.