June 14th Weekly Market Report With Tom & Shane [Listen]
Mike McCormick of McCormick Financial Advisors joined Tom and Shane for this week's market report.
Shane started things off with the National and Worldwide markets and commodities.
Dow Jones and most other markets are up substantially for the year. European markets are a little in the pink. Asia markers show that the green has shifted to pink over the last few sessions.
Shane believes that tariffs will work, and that China is headed for recession in spite of their reported numbers.
Mexico is headed down the Venezuela road of high inflation.
Aluminum down and steel down and coal is up thanks to China buying it to make steel.
Crude oil down some but nothing to worry about.
Germany bought oil and gas deal with Russia.
Tom answered some texts from listeners.
Mike takes on an explanation of National Debt vs. Deficits. Shane weighed in on why trade works in a capitalist country like the USA vs. China which is not a capitalistic state. China is now the largest maker of cars in the world.
Money goes to corporations or does it go to the state?
Twenty-one trillion in debt but do we need to pay it off? Tom says no. Mike and some of our listeners say yes.
The discussion goes on as both the GDP and National Debt rise.
Tom reminded everyone that the sequester is still in effect. Mandatory cuts are going to take place no matter what congress wants.
Regardless of the changes in Obamacare there are still 25,000 medical regulations are still in effect.
Listener phone calls and other fun stuff. Check it out. Don't forget you can listen to past shows by CLICKING HERE.