The Rundown needs your help.
In light of Independence Day, we’re asking readers to write in with reflections on America… and, hey, let’s keep things inspirational. We’ll be featuring your thoughts tomorrow.
Now back to our regular format; in response to Trump’s meeting with Kim Jong Un — in North Korea, no less:
“If you believe POTUS was being disrespectful to the less than 37,000 fallen Korean War soldiers for trying diplomacy with North Korea, you must also believe we should not have any dealings with Germany or Japan because it would be disrespectful to the more than 405,000 fallen WW2 soldiers.
“Will this uncontrollable hatred by the ‘never Trumpers’ ever end? These are the same people who praised Obama for being the first president in 80 years to step foot in Cuba.”
Fair point. Was Obama’s visit to Cuba any different from Trump’s visit to North Korea?
Then there’s this…
“The reader who said ‘we don’t lose anything’ from Trump’s meeting Kim Jong Un is very naive.
“The U.S. has gained NOTHING but the North Korean murderer has gained immense status — from petty dictator of a third-world country to world leader, worthy of meeting one-on-one with the president of the United States. That in itself is a victory for Kim.”
Your Rundown for Wednesday, July 3, 2019:
According to the National Bureau of Economic Research, the U.S. is in its longest period of economic expansion — breaking the previous record of 120 months (Mar. 1991 – Mar. 2001).
“This month marks the 121st month of the economic expansion arising out of the great financial crisis,” CNBC says, “making it the longest run on record going back to 1854.”
But even though this has been the longest bull market in history, it’s not been the strongest; the cumulative total of quarterly GDP for this time — from Jun. 2009 to the present — stands at 25%.
That means nothing until you consider the cumulative GDP of the second-longest expansion in U.S. history was 42.6% with the third-longest coming in at 51.9%. And despite low unemployment, job growth has been slower than previous expansions, too… from 12% for the current expansion versus 17% and 19.7%.
CNBC says: “Wall Street seems to be divided on whether this expansion is going to last.
“Some believe the Federal Reserve will save the day through cutting interest rates, while some think additional stimulus cannot combat the looming downturn or that the Fed won’t be aggressive enough to stave it off.”
Think this bull market still has legs? Or is this the beginning of the end?
Market Rundown for Wed. July 3, 2019
S&P 500 futures are up 6.5 points to 2,986.
Oil’s up 34 cents per barrel to $56.59.
Gold’s added $11.40 to its price of $1,419.70 per ounce.
Bitcoin is up $575.57 to $11,413.99.
Have a good day. We’ll talk tomorrow.
For the Rundown,