From Joe
Everything You Need to Know About Money is Now at your Fingertips
I've created a library of training material to teach you how money works so that you can make more money and protect it.
It's more important than ever to understand how to allocate your portfolio to eliminate risk. How to use the advanced options strategies that professionals use to hedge, produce income, and make low-risk trades with huge payoffs. How to get out of debt fast. How to pick the best stocks and make sure you are buying them at a great price.
Members of Heresy Financial University get all of this, and more. As a member you'll get access to every course in the library of training material, and you'll get automatic access to every future course I launch as well.
There's never been a time where financial education is more important. Don't wait any longer, sign up today.
News
China’s Inefficient and Unsustainable Central Planning
Over one hundred years ago, Ludwig von Mises wrote about the impossibility of successful rational economic planning under socialism. Yet China is still trying, even while its blend of markets and socialism results in shortages and surpluses. This article examines three contemporary initiatives spearheaded by Xi Jinping, each marked by an inherent problem: food insecurity, the aging crisis, and the real-estate bubble. Each problem was created by legislation and is being made worse by further legislation enacted to correct the problem.
Japan approves $110bn stimulus package to fight inflation
Japan's cabinet approved on Thursday a package of economic measures worth about 17 trillion yen ($112 billion), including income tax cuts, as Prime Minister Fumio Kishida grapples with persistent inflation and falling approval ratings. “Wage increases are not keeping pace with price rises,” Kishida said at a news conference on Thursday evening after the government announced a temporary cut in fixed income tax and resident tax that will cost over 3 trillion yen. Those cuts will come into effect as early as June 2024. “We hope to stimulate consumption by increasing people’s disposable income and creating a virtuous cycle in the economy,” Kishida said.
Oil Rises With Broader Markets as Fed Hints Rate Hikes Are Done
Oil rose as a drop in the dollar made the commodity more attractive to importers and the Federal Reserve hinted it might be done raising interest rates, buoying a shaky outlook for crude demand. West Texas Intermediate settled above $82 a barrel, snapping a three-day losing streak that had sent prices down about 6%. The Fed refrained from increasing borrowing costs on Wednesday and signaled that a recent rise in longer-term Treasury yields reduces the impetus to hike again. Stock markets also rose, and bond yields fell.
Wall Street Is on High Alert for Cracks in Treasury-Bill Demand
The US Treasury’s ongoing barrage of bill issuance has left market participants trying to gauge when investors will lose their appetite for short-dated government debt. Buyers have easily soaked up the $1.56 trillion of Treasury bills issued this year through the end of September, with the bulk coming after the government suspended the debt ceiling in June. But drainage of the Federal Reserve’s overnight reverse repurchase agreement facility, where usage has dropped by over $1 trillion as cash is allocated to T-bills, to the widening gap between yields and overnight index swaps — a proxy for monetary policy expectations — are already raising concerns.