- Datadog is a new tune while Google plays a familiar beat. Politicians promise, lie and swipe. Powell has nightmares of a 70s flick. The status hold their breath, while holding the game as Ukraine goes dry without saving rain. Palestine knows that song but Israel forgot the line. Can anyone help?
- (rhyming) JFL
Last week...
we told you that the Bulls went from a meme of Dow 40K to please, hold 38,000. It didn't. However, the recent rally will provide incentive to push up the indexes again. We look at the volume. Which ever has the strongest action, they will control the market in the near-term.
Long Term
We noticed many noted CEOs and Executives throwing out their views. Dimon of Morgan Chase worries about persistant inflation. Payne says the unexpected rise in gold is telling the market something. We, at Evolution do not have access to mainstream media. We just have you. Thank you, Lord. If we did have a large media outlet, we would say the same things that we write on a weekly basis.
Latest Signs
Biden calls the economy strong, but Trump says it is a cesspool. We disagree. Todays results came from yesterdays actions which were effected by previous data. Neither candidate expresses the truth. If a miner discovers a bonanza, it will take ten years to see the rewards. Inflation is from printing for years. One thing that I admire about the Chinese is their patience to view long-term. We need that in America. Look no further than Boeing. How about the governor of California who is trying to fix problems that started 40-years ago? After a series of patchwork of government responses, now has their citizens paying $5.27 for a gallon of gas versus $3.54 national average. For example, take the point in the new minimum raise of $20 per hour? Do you remember the past protest of low-paid workers with the tune, What time is it? Time for $10. Then, it was $15, which brings us to today. The real culprit is the Federal Reserve which destroys the purchasing power of the dollar. This is why we say, "End the Fed!"
Meanwhile, other signs of the Fed's failure come to light as more and more firms go bust.
Closings
Macy's: 13 more locations to the now yearly annoucement by the shrinking giant that will be missed. Dollar Tree & Family Dollar: 1000 stores are closing and multiply that by each store worker. 99 Cents Only: Inflation wiped out the entire franshise. You lose 371 stores and 14,000 jobs. Walmart: They closed 24 stores in 2023 with 6 more on the schedule for this year. Barnes & Noble: You can blame Amazon or people don'r read enough. 34 dead in 23' with 6 coming. REI: Outdoor stuff. Cites theft (hearing this more and more). Moving to new locations. Gap: 350 going, going, gone. Includes some sister outlet, Banana Republic. Best Buy: Still deciding if 10 or 15? CVS: 900 got pink slips and some outlets in Target stores. Rite Aid: Originally 154 stores to which climbed to 231 locations. Walgreens: 100 going along with 500 jobs. Party City: Declared bankruptcy! Could 850 stores be lost? Mod Pizza: Never heard of it. I go to Toto's in SF or the Castle Hill Station in the Bronx for a corner slice. Anyway, they had 500 spots and now, 27 less.
In a related aspect, Apple is laying off 600 workers in California. McKinsey cites a slowdown in demand for cutting jobs. Conagra is closing its Birds Eye facility in Wisconsin and BS the reason. Nike is dropping 1600 shoemakers. Tesla is laying off 10% of its employees. In viewing the above list, Dollar Tree no longer has one dollar items. They rased their basic price to $1.25 and some items as high as $7-bucks. In San Francisco a new ordinance is being considered. It will allow customers of grocery stores to be sued if they do not give their customers a six-month notice of closing. You call this a strong economy? Peace.
