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The Independent Investor: Was There Really a Trade Deal?
By Bill Schmick,
02:52PM / Friday, October 18, 2019
Last Friday a "phase one" trade agreement between the United States and China was announced with great fanfare. The problem is that nothing was written down, nor were the terms agreed upon. In the end, we only have a gentlemen's handshake. Will that be enough?   With the stock market up by over one percent, President Donald Trump spent most of the that day in front of the cameras crowing that China had agreed to buy $40-$50 billion worth of food imports from our nation's farmers. He repeated those numbers over and over, throwing in comments of how famers were going to have to buy bigger tractors to handle the business.   China's Vice

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The Independent Investor: Brokerage Business Not What It Used to Be
By Bill Schmick,
04:15PM / Thursday, October 10, 2019
Last week, Charles Schwab, the mega-discount broker, disrupted the brokerage industry yet again by dropping its per-trade commission rates for U.S. and Canadian stocks, exchange traded funds (ETFs), and options for both mobile and internet trades. It was inevitable and simply recognizes what the future holds for that segment of the financial industry.   Since Schwab's announcement on October 1, three additional big brokers — TD Ameritrade, E-Trade and Fidelity Investments — have thrown in the towel leaving only Vanguard (among the big houses) left out of the zero-commission trend.   The stock market reacted in shock. Traders hit the sell button

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The Independent Investor: Markets Bogged Down by Politics
By Bill Schmick,
06:32PM / Thursday, October 03, 2019
Recently, financial and economic events have taken a back seat to politics. Whistleblowers, United Nations speeches, White House tweets, and the on-going trade wars seem to be moving markets far more than unemployment or earnings reports. Is this simply a short-term phenomenon, or is something else happening that is becoming a longer-term trend?   As readers are aware, over the last three years, financial markets have been increasingly governed by what is happening in Washington. At first, markets keyed off big developments like the tax cuts and what they would or would not accomplish from an economic point of view. From time to time, markets would also focus on the

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The Independent Investor: India's Bid for More Trade
By Bill Schmick,
05:44PM / Thursday, September 26, 2019
India's Prime Minister Narendra Modi is aggressively pushing for a greater share of global trade now that its neighbor to the north (China) is squabbling with the United States. In doing so, India is hoping to regain some economic momentum, kick-start employment, and reverse its slowing economy.   For those readers whose knowledge of India is limited to the next Bollywood musical, India's economy has been in the doldrums. It is still growing at a 5 percent clip, which may sound high to some, but it is at the lowest level in six years. The country's unemployment rate is presently at 8.19 percent, versus 6.27 percent last year.   Despite the poor

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The Independent Investor: The Era of U.S. Oil Independence
By Bill Schmick,
05:02PM / Thursday, September 19, 2019
Last weekend's surprise drone attack on Saudi Arabia's major oil fields was a disaster, but it could have been worse. Fifty years ago, an attack like that would have sent the world's financial markets into a tailspin and rocked global economies. None of that happened — thanks to the U. S. energy production.   Granted, there was an initial decline in the markets until the damage was assessed and experts concluded that the 5.7 million barrels per day (bpd) of crude production could be put back online within three weeks. The short-fall represented about half of the Saudi's daily production. Yet, the markets rebounded quickly, and for the most part, it is

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