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The Best of What They Said and I Read Week Ending 6/10/2018

Short excerpts from articles I found interesting.

I may not agree with the author and the following material is not intended as investment advice.

U.S Global Investors – June 8, 2018 – by Frank Holmes

“…The major market indices finished up this week. The Dow Jones Industrial Average gained 2.77 percent. The S&P 500 Stock Index rose 1.62 percent, while the Nasdaq Composite climbed 1.21 percent. The Russell 2000 small capitalization index gained 1.49 percent this week…The 10-year Treasury bond yield rose 4 basis points to 2.943 percent.”

“…Apple co-founder Steve Wozniak is backing fellow business tycoon Jack Dorsey when it comes to calling for bitcoin to be the world’s single currency, reports MarketWatch. Wozniak believes that the mathematical nature and lack of human intervention makes a good case for the adoption of bitcoin…”

“…Short seller Jim Chanos, who predicted the fall of Enron, told the Institute for New Economic Thinking that bitcoin would fail in a crisis, reports Bloomberg. “For those who believe that you need to own digital currency as a store of value in the worst-case scenario, that’s exactly the case in which digital currency will work the least,” he explained…”

The Wall Street Journal – June 1, 2018 – Should New Retirees Travel a Lot?  We Did – by Glenn Ruffenach 

“…The easy answer to this question is: Sure. Travel early and often, while you and your nest egg are still healthy. There is also the possibility—as several readers have cautioned us, in a series of heartbreaking emails—that you could lose your spouse or partner early in retirement and end up regretting that you didn’t travel more when you had the chance.”

“…Think about it this way (in one of my favorite descriptions about later life from Peter Leo, a former columnist at the Pittsburgh Post-Gazette): “Retirement gives you the time to live ordinary life well.”  So, I think a better answer to this question is: You will discover, at your own pace, if traveling “early and often” is right for you. If it is, that’s great. And if not, the occasional trip—combined with a daily routine that’s rich with the commonplace—is just as rewarding. Believe me.”

The Kiplinger Letter – June 8, 2018 

“The unemployment rate is at its lowest level since 2000.  Both business and consumer confidence are strong. But how long can the good times continue? The current expansion is far from over. At nine years and counting, it now ranks as the second-longest stretch without a recession of modern times…still short of the 10-year expansion of the roaring 1990s, which it will surpass next year.”

“Barring some sort of sudden catastrophe…the outbreak of war, natural disaster, terrorism, etc… Expect it to last at least another couple of years. The factors currently boosting the economy…tax cuts, higher spending by Congress, solid overseas growth…still have room to run. Mounting friction over trade is a worry for the economy, but not a mortal threat. The risk of a new financial crisis and a replay of 2008 looks low…the financial system is more resilient now.”

“A few years out, the danger will increase. Think 2020 or 2021. Looking that far ahead is always hard, of course. But there are sound reasons for thinking the next recession could rear its head sometime early in the next decade…”

“…The good news in today’s labor market: There’s a job for every jobless person. The bad news: Many jobless folks are unqualified or are in the wrong places for the jobs going begging. A third of small firms say they can’t find enough workers, either because unemployment is so low in their area or applicants lack needed skills. So, even with job openings now slightly exceeding seekers, hiring figures to slow down. Scarce labor further ups the incentive for businesses to hike capital spending on robots, artificial intelligence and the like to make existing workers more productive.”

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