Authored by Lance Roberts via RealInvestmentAdvice.com,
With the passage of the Tax Cut And Jobs Act on Wednesday, I wanted to address a few of the questions and misinformation currently circulating about the impact of tax cuts on the U.S. economy.
Over the last couple of months, I have been repeatedly asked why I am not “enthusiastic” about the “greatest tax reform” since the Reagan era.
As DataTrek's Nicholas Colas reminds us, recreational marijuana sales become legal in California starting on New Year’s Day 2018. Given that one in eight Americans live in the state, this move will have major implications for the entire US legal cannabis industry.
So, to address any pent up investor questions, Colas has put together a list of 7 major points about the rollout in terms of regulations, taxes, revenue estimates, potential banking solutions, and employment consequences.
Here are the details:
One day after Trump escalated his war of words with the UN, threatening to cut off foreign financial aid over today's UN vote on the president's decision to recognize Jerusalem the capital of Israel, the United Nations on Thursday delivered what has been dubbed a "stunning rebuke" of the US President's Jerusalem decision, voting overwhelmingly to condemn the move and calling on the U.S. to withdraw the decision.
The final vote was a landslide against Israel, with some 128 nations voting in favor of the resolution. Nine countries opposed the resolution while 35 abstained.
Christmas Column, 2017
Dear Donors, thank you for your support in 2017. Although you have kept me working yet another year, I find it encouraging that there are some Americans who can think independently and who want to know. As Margaret Mead said, it only takes a few determined people to change the world. Perhaps some of you will be those people.
U.S. equity futures are little changed with the GOP Tax Plan now a done deal and no more daily "pricing in" of tax reform possible, as traders nerviously look to see if others will now be "selling the news", a preview of which we got yesterday when US equity indexes closed red across the board despite Trump's biggest legislative win to date, while bonds were spooked by the blowout in government debt needed to fund the giveaways.