White House Spending. Market Comments. Talk Big, Act Small. Some Grandpa Humor.

Do you trust the mainstream media? If you answered no, you’re not alone. Trust in the media is at an all-time low. And for good reason. In this week’s video, Sharyl Attkisson, investigative reporter and author of The Smear, explains why Americans rightly distrust the nation’s mainstream news outlets.
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Our president spends money somewhat like it is his own.  (See 1 below.)
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I recently made a few comments about the market.  

So happens oil/gas related stocks are beginning to catch the eyes of bottom fishers who must believe the price of oil has stabilized and might stay above 50 plus.

My interest in Qualcom was pure luck but I never turn down a gift horse. If and before the Broadcom merger goes through it will be met with a lot of resistance/scrutiny, even some from China and I suspect the Jacobs will want more than $70 so I expect the merger offer will move closer to mid $70.  Also QCOM has made an offer for another company which obviously they would have to forego if they accept the Broadcom deal.

I still favor selected financials and the health care sector but the latter is being severely tested with pricing pressures and political backlash. 

AT&T is a risk because of their inability to resolve the legal  shadow hanging over their proposed merger, the debt assumption, if the deal goes through, and their poor metrics regarding customer retention. However, Ma Bell might still rise to the challenge  and  ring the bell.

If tax relief is finally passed and 4th and 1st quarter earnings remain perky, this pricey market probably has more upside.  

Obviously the potential for war in The Middle East, and/or with N Korea makes any forecast unreliable and I continue to believe both are inevitable but when is the big unknown and will remain so.
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No one knows what the eventual outcome of any tax bill will look like. I took a look at some of the preliminary comments and proposed changes. Unless I am being too pessimistic, which I am prone to be particularly when it comes to government beneficence, it appears the politicians have resorted to their old tactics.

By this I mean, they add some benefits to offset the eliminations or increasing thresholds of  prior deductions.  Several years from now, after they have removed all exclusions like interest on homes, raising charitable donation deduction levels etc., they will start increasing your rates again.  Rest assured, until there is a true revolt, politicians will never attack the spending side. To do that takes courage and fortitude.  Both are lacking when it comes to political reality.

They talk big but always act small.
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More humor:

Grandfathers don't know everything.

Hunter was 4 years old and was staying with his grandfather for a few days.

He'd been playing outside with the other kids, when he came into the house and asked, 'Grandpa, what's that called when two people sleep in the same bedroom and one is on top of the other?'

His Grandpa was a little taken aback, but he decided to tell him the truth.
'Well, Hunter, it's called sexual intercourse.’‘Oh,’ Little Hunter said, 'OK,' and went back outside to play with the other kids.

A few minutes later he came back in and said angrily, 'Grandpa, it isn't called sexual intercourse. It's called Bunk Beds. And Jimmy’s mom wants to talk to you.'
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Dick
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1)"WHITE HOUSE  SPENDING:"

The Trump administration released their annual report to Congress on White House Office Personnel.  It includes the name, status, salary and position title of all 277 White House employees.The report also said that Trump decided not to take a dime of his salary, instead he donated it to an amazing cause! (See below)

The report also revealed President Trump is far better at saving money than Obama.  The total annual White House salaries under Trump are $35.8 Million vs $40.9 under Obama - a savings of $5.1 Million.  

Here are some other key findings:

There are 110 fewer employees on The White House staff under Trump than under Obama at this

point in their respective presidencies. Nineteen fewer staffers are dedicated to The First Lady of the United States (FLOTUS).  Currently,there are five staffers dedicated to Melania Trump vs 24 staffers who served
Michelle Obama (FY2009).

However, it's what the report said Trump did with his salary that has everyone talking. Instead of taking his salary, Trump donated all $400,000 to the Department of the Interior where it will be used for construction and repair needs at military cemeteries.. 

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