Okay, so I had my writing laid out in my head earlier, but I had to read just one more article because the title was intriguing, Some Lines Say Maybe the Stock Market Will Go Down. After reading it, I just have to alter my original opening and go with, well, the opening I am writing now.
- A portion of the financial internet spent a portion of yesterday discussing a pretty silly chart showing that the performance of the Dow from 2012 through now has been exactly like the performance of the Dow from 1928 through September 1929, and since those who do not learn from charts are doomed to keep drawing them, that means we’re headed for an October 1929-style crash.
As much I see the world changing, some things never have and probably never will. One of those is the propensity for some to create fear for the sake of creating fear and others to follow right along with out question. The above is an example. The chart purporting the market demise has been shown to be manipulated, but yet the topic is still hot, as if it were something to seriously consider. Wow!
- The U.S. Congress approved an increase in the country’s debt limit through March 2015, bowing to President Barack Obama’s demands for a debt limit increase without any conditions.
As to the world changing … It appears the Republicans have reconsidered taking an adversarial position on the debt ceiling. This is a change, for the positive, and it will be good for the market. What is the same, though, is the reason for taking such a stand is not about doing the right thing, as much as it is about doing what is politically expedient. Ironically, the Republican leadership decided it was not a good idea to further foster the perception of Republicans as obstructionists, at least not for this upcoming election cycle, so “let’s play ball” is the rallying cry.
- A massive cyber attack from unknown sources that has been spamming bitcoin exchanges is highlighting some of the dangers people can encounter when they exchange cash for digital currencies like the bitcoin.
Although the idea of alternative currencies is not new, the idea of having a virtual currency is, relatively speaking that is. Bitcoins are catching on. Last night, I was considering buying some software and, lo and behold, the notice at the bottom of the page told me that I could do it in bitcoin. Now, if this is not a sign of a major transformation in society, I don’t know what is.
- Mozilla, the company behind the Firefox Internet browser, will start selling ads as it tries to grab a larger slice of the fast-expanding online advertising market.
And talk about change … Mozilla, that stalwart of free enterprise (literally), is giving into the pressure to make money, and why not? Like the bitcoin currency, the online ad industry is just too good to pass up, I guess. After all, Google is making a ton of money in this realm, even if the current numbers out of the UK signal, hmmm… signal, well, that Google is making tons of money with online ads.
- Google has said its UK sales hit $5.64 billion in 2013, a rise of 16 percent on the previous year — its lowest growth rate in three years.
Oh, and it lowest growth rate in three years means its rate of revenue growth declined from 20% and 22%, respectively. Yet, and still, $5.64 billion is a staggering number for just the UK. I guess Google, the poster child for success in this arena, speaks to a brave new world as well.
For those of you interested in finding investments or trades in companies that build and sell weapons that kill, start looking because after several years of declining, sales for war goods are coming back into vogue.
- Fuelled by growing strains in Middle East and Asia, global defense spending looks set to rise in 2014 for the first time since the 2008 financial crisis.
I guess some things will never change.
Trade in the day; Invest in your life …
