Grounded for Summer Vacation

“I am so totally confused that I had to file for an extension,” says our first contributor about 2018 tax filing.

“I thought it was supposed to be simpler but it’s not… and my return is normally a cut and dry return.

“I am now waiting to find out if I can have an extension. I will be taking this mess to a tax preparation person and having to pay!

“Wish me luck.”

Remember when the president and former Sen. Paul Ryan held up a mock-up of a postcard that we’d be filing our taxes on after the TCJA? The postcard’s mocking us.

“We could certainly pay less [in taxes] and reduce the national debt if duplication, unnecessary government agencies and waste were minimized — eliminated would be much better but that would be too much to expect.

“All non-essential programs should be eliminated until we have cleared the national debt.”

No doubt. Government waste — and the national debt — mock us, too.

Your Rundown for Tuesday, April 16, 2019:

Summer Travel Grinds to a Halt

Did you know the Boeing 737 Max airplane accounted for 8,600 flights per week before the March air disaster off the coast of Ethiopia?

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So how is the worldwide grounding of the Boeing passenger plane affecting U.S. carriers, particularly as we come into the busiest travel season of the year?

“A decline in seat capacity could mean higher last-minute summer fares, particularly for business class travelers,” says an article at Reuters.

The grounding of the 737 Max means…

  • Southwest will cancel 160 of its 4,200 daily flights between Jun. 8 and Aug. 5
  • American will cancel 115 daily flights through Aug. 19 or about 1.5% of its summer flying schedule each day

As for United, the airline’s president Scott Kirby says: “We’ve used spare aircraft and other creative solutions to help our customers, who had been scheduled to travel on one of our 14 MAX aircraft, get where they are going.

“But, it’s harder to make those changes at the peak of the busy summer travel season.”

The grounding of Boeing 737 Max aircraft might lead to higher prices for consumers this summer; at first, this might mean more profits for airlines… but will lead to disgruntled customers quick to vent on social media.

In short: more people travelling, higher prices and fewer planes is a bad mix.

For investors, beware airline stocks.

Market Rundown for Tues. April 16, 2019

S&P 500 futures are up 9.25 points to 2,918.75.

Oil is up 29 cents to $63.69 per barrel.

Gold’s lost $9.00 to $1,282.30 per ounce.

Bitcoin is up $15.15 to $5,053.10.

Have a good day. We’ll talk tomorrow.

For the Rundown,

Aaron Gentzler

Aaron Gentzler

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown. Aaron’s been with Agora Financial/Seven Figure Publishing for 13 years. He's been covering technology and markets for over a decade.

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