2 August 2018

1) President Trump is considering additional tariffs on China, possible as high as 25%. Trump isn’t showing any signs of backing down in standing up to the Chinese trade practices.

2) Iranian economy falters under US economic pressure, with Iran facing possible collapse of it’s economy at a time of much civil unrest, especially among its young people. Iran continues to reject US offers to negociate.

3) President Trump is imposing economic sanctions on Turkey over continued detainment of an American pastor, despite Turkey’s drift into the Soviet orbit.

4) The President is giving consideration to bypassing the Congress and make changes to the tax codes by fiat, which would most certainly be challenged in court. This would be done by changing the definition of cost for capital gains by allowing adjustments to the initial value of an asset for inflation when sold.

5)   1 AUG 18       Stock market closings:

Dow                   25,333.82    down       81.37
Nasdaq               7,707.29           up      35.50
S&P 500              2,813.36      down        2.93

Bond 10 Year Yield  is  3.00% up 0.04
Oil  up  at   $67.84

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