Thu, 7 February 2019
Our FEATURE today utilizes an article in the January 29th edition of Barron's Magazine which uses a song from 1971 written by Alvin Lee titled "I'd Love to Change the World" which connotes the coming Socialist movement in America. For the first time in US history there will proposed by Elizabeth Warren a tax on capital. For those who have assets of $50 million or more there will be a wealth tax of 2%; for those with assets of $1 billion or more the tax rate will be 3%. Warren is also proposing that the Federal Government play a role in corporate governance of public companies which will undermine capitalism and the equity markets. Alexandria Ocasio-Cortez (AOC), the 29 year year old committed Socialist will propose a marginal income tax rate of 70% for those who have income in excess of $10 million as well as a New Green Deal which will make it mandatory that the US be carbon neutral in 10 years. The Left also intends to replace Pres Trump in 2020. This group has momentum and money and can "change the world". Other topics include: "China Concerns Loom Over Stocks", "Strong Earnings Boost S&P 500", "Bonds Signal Warning For Stocks","Dealers Are Loaded With Unsold Cars", World Economic Forum revisited, VPLM, The north pole is moving!, The State of the Union Address and The New Government Agenda.