AUTHOR: TOWNE SCHERER.COM 08/10/2015: Towne Scherer Private Wealth Management BLOG: Scott Walker, Marco RubioandJohn Kasich had good performances in the GOP debate on Fox News, according to the The New York Times. However, the NYTs believes that Donald Trump and Jeb Bush did not have outstanding nights. In the earlier debate, also held on Fox News, Powerline stated that Carly Fiorina and Bobby Jindal were “excellent and deserve immediate promotion to the A Team.” On the international scene, following several weeks of massive pullbacks in the Chinese stock market, Chinese stocks soared when their Central Bank suddenly cut rates on one-year lending. Nevertheless, in the U.S. the Dow continued to drift lower, being off its annual high as of the writing of this blog by 4.5%. ‘Good news being bad news’ is being blamed as the culprit by USA Today, with Friday’s news of solid jobs in July fueling speculation the Fed will raise interest rates when it meets in September. Nevertheless, Bill Gross, in a Bloomberg article, says “we’re dangerously close to deflationary growth,” pointing to how the “CRB Commodity Index isn’t just (at) a cyclical low, but lower than in 2008 when Lehman Brothers Holdings, Inc. went bankrupt.” In contrast, the article went on to report that “the Fed is ‘mentally committed to moving before year end, despite the Bank of England’s Monetary Policy Committee this week voting 8-1 to keep its key rate at a record low and talking about changing policy next year.’” Although, Shakespeare said, “beware the Ides march,” perhaps it is “beware the ides of September” to which we should be listening. Do you know what an ide is…didn’t think so.
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