100 months and counting ...
The market continues to make new all-time record highs with large
caps and the FAANGNOSH stocks dominating market action.. However, if tax reform does not
pass, the market appears frothy. Congress is attempting to move
tax reform before Christmas.
The details of the tax reform package remain uncertain and
implementation will not affect 2017 taxes. The Democratic party and a
few Republicans worry about the impact on government revenues and a
possible increase in the nation's debt. However, the Obama
Administration doubled the federal stated debt from $9 to $18 trillion
without much concern.
Employment continues to move higher and consumer confidence is at
all-time highs. The Christmas season will be significant for many major
retailers as on-line sales continue to take market share. Look for major
consolidations and/or bankrupticies to occur in the 1st quarter of 2018.
The U.S. dollar appears over-valued going forward, interest rates
will probably rise in December 2017 and the world still has many
potential conflicts that could esculate into both a military and
As a wise man once said ... "No one knows the future ..." but the
bitcoin mania reminds me of the tulip craze a few centuries ago.
Remember to ... "Keep It Safe, Simple and Stay Focused!" going
December 1, 2017