E It Will All End In Tears

Both Trump and Biden have relatives under investigation for accepting what looks like bribes from outfits trying to influence the big man in the White House or the Veep house. The Trump intermediary was first son-in-law Kushner, husband of Ivanka, who got UAE funding for a bankrupt family NY office tower. The Biden intermediary was his son Hunter who got Ukrainian, Chinese, and Romanian money laundering loot he did not declare for taxes, and the president elect's brother James who got money for bailing out a bankrupt hospital group, Americore where James may have been a principal. What this country needs is an orphan childless president without any relatives.

Business newspaper article

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Airbnb ABNB went ballistic today, its stock price more than doubling from the jacked-up price set last night. It will all end in tears.

Tonight is the start of Chanukah because tomorrow is the 25th of Kislev, a Hebrew month. (Jewish days begin the eve before.) If that number sounds familiar there is a reason for it. Chanukah runs for 8 days and ends on the 18th of December, a week before Christmas, not for 12. It is a moveable feast.

As hopes for a Brexit deal sink, the pound sterling is down, giving a boost to UK stocks earning foreign currency while Wall Street is again downing the Dow. The European Union published plans for a failure of the negotiations which end Sunday. The unemployment figures are distressing. More news:

Funds

*Korea Fund is switching from Allianz management to JP Morgan because (according to the proxy to approve the switch) Allianz is halting fund management operations. As shareholders we were never told this, but only noted that the AZSEY ADR was delisted and harder to track here. It also canceled its share buyback which ADR owners were eligible for. JP Morgan is building its asset management prowess. Korea has banned short stocks sales which will hurt KF returns. KR rose to nearly $38.97.

*The news also boosted Standard Life Aberdeen, which manages closed-end funds here, by 2.65%. Scottish SLFPY earns dollars.

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Katy Lin 1 month ago Member's comment

Good article, thanks Vivian.

William K. 1 month ago Member's comment

What the USA needs now is a candidate with both brains and integrity. My suggestion is to have another ballot choice declaring "No Confidence, NONE of the above!" That is because those who are both really smart and very honest are seldom found in politics. And even those who would be OK would probably not pass the media microscope test. So the stock market is still looking sort of good, but the emotional drivers are still unstable and what happens next is not obvious.

My prediction is that all of the stimulus money will ultimately lead to inflation that benefits only a few.

Tin Man 1 month ago Member's comment

Some of the "stimulus" money will lead to people eating and keeping a roof over their heads a little longer during the greatest, most desperate humanitarian crisis in American history. Some small businesses may also escape bankruptcy.

Now, you were saying something about inflation? Got any travel plans for Christmas?

William K. 1 month ago Member's comment

Certainly a fair portion of that stimulus money will do a lot of good. No argument about that. But also, iit is going to bid up prices, which is the same as inflation. If there existed a scheme to only send the money to those in need then that would be the very best way to go.

AND, the fact that the intended and actual effect does provide a lot of good does not remove some of the (not so good) side effects.

Anne Davis 1 month ago Member's comment

I suspect there will be a lot of fraud. But there are always people who will take advantage as there is no way to differentiate between who really needs the help and who doesn't. But without this aid, many will end up homeless and going hungry.