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Nationalist Pundit

America First, Last and Always!

Blog posts : "Economy"

Stocks Dive On 1st Day Of New Fed Chair

Yesterday was a rough one on Wall Street as the Dow Jones plunged some 1,175 points, setting a new record for biggest, one-day losses. At one point, the Dow was down almost 1,600 points. However, given the value of the Dow, the loss only amounted to a 4.6% dip, not even making the top 5 in history. All of this comes as Jerome Powell took the oath as the new Chairman of the Federal Reserve Bank. Historically, it is normal for the markets to dip when a new Fed Chair takes over. Most analysts are not too concerned about yesterday′s sell off, as the overall economy is in very good shape. Even the manufacturing index hit a new record high at 59, 2 points higher than expected.

 

 

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Bitcoin Futures Launched, Crypto-Currency Mania

On Sunday, the Chicago based Cboe Global Markets exchange launched Bitcoin futures trading. By close of markets on Monday, Bitcoin futures settled at $16,680 after flirting over $18680. Bitcoin is an alternative currency, digitally based created in August of 2008 by Satoshi Nakamoto. At that time, it had essentially zero value. Throughout most of the next several years, you could ′buy′ as many as 3 to even 33 Bitcoins for just $1US. But, the digital currency began to catch on as some retailers and smaller banking services began to accept them as cash. By 2013, 1 Bitcoin was worth over $260. It even briefly spiked in 2014 at around $1,200. The controversial currency ebbed and flowed for the next several years from about $60 to $1,500. Today, some say it is worth at least $2,000 a ′coin′. While many ′experts′ say that Bitcoin is a Ponzi scheme, a fraud, or at the very least, a ″speculative bubble′, others claim that Bitcoin is the future and could be worth as much as $250,000 each by 2020.

 

 

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North Korea Plans Launching Missiles At Guam

Reports from various sources indicate that North Korea may be planning to launch 4 missiles towards the island of Guam. Kim Jong Un wants to defy America and the world by launching four of its Hwasong-12 IRBM, Intermediate Range Ballistic Missiles, to a point some 20 miles off the coast of Guam, some 2,100 miles away. Guam, part of the United States Protectorate of the Marianas Islands, is home to some 160,000 U.S. citizens, as well as a military base with over 6,000 personnel. According to the reports, this provocative action could take place as soon as within the next week.

 

 

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Not Tired Of Winning, Trump Economy Surges

Monday marked the 9th, straight day of the Dow Jones breaking another record high, blowing well past 22,100. This was the 35th record high since President Donald J. Trump took office and nearly 60th since his being elected last November. Since November 8, 2016, the Dow Jones Industrial Average has increased some 15.6%. All of the major American markets have surged over 12% since the election. The latest Jobs Report for July, 2017 was higher than expected with over 209,000 new jobs created. Unemployment has fallen to a 16-year low of 4.3%. The Labor Participation Ratio has increased to a 16-year high, indicating more Americans are employed than ever before in the 21st Century!

 

 

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