Market Update

On this day in History, September 18th,  1973 – Jimmy Carter files report on UFO sighting. Future President Jimmy Carter files a report with the National Investigations Committee on Aerial Phenomena (NICAP) on September 18, 1973, claiming he had seen an Unidentified Flying Object (UFO) in October 1969.

During the presidential campaign of 1976, Democratic challenger Carter was forthcoming about his belief that he had seen a UFO. He described waiting outside for a Lion’s Club Meeting in Leary, Georgia, to begin, at about 7:30 p.m., when he spotted what he called “the darndest thing I’ve ever seen” in the sky. Carter, as well as 10 to 12 other people who witnessed the same event, described the object as “very bright [with] changing colors and about the size of the moon.” Carter reported that “the object hovered about 30 degrees above the horizon and moved in toward the earth and away before disappearing into the distance.” He later told a reporter that, after the experience, he vowed never again to ridicule anyone who claimed to have seen a UFO.

Economic Data Today:

News of the Day:  

U.S. to Ban TikTok Downloads, Use of WeChat on Sunday – https://www.wsj.com/articles/commerce-secretary-wilbur-ross-says-he-will-ban-wechat-use-in-u-s-after-sunday-night-11600429988?mod=hp_lead_pos1

U.S. details up to $14 billion in new aid for farmers – https://www.reuters.com/article/us-health-coronavirus-usa-farmers-aid/u-s-details-up-to-14-billion-in-new-aid-for-farmers-idUSKBN269261

Millions Are House-Rich but Cash-Poor. Wall Street Landlords Are Ready. – https://www.wsj.com/articles/millions-are-house-rich-but-cash-poor-wall-street-landlords-are-ready-11600421401?mod=hp_lista_pos1

Gas Companies Are Abandoning Their Wells, Leaving Them to Leak Methane Forever (very chill) – https://www.bloomberg.com/news/features/2020-09-17/abandoned-gas-wells-are-left-to-spew-methane-for-eternity

Other News & Blogs:

Upside-Down Markets: Profits, Inflation and Equity Valuation in Fiscal Policy Regimes (this is special) – https://www.osam.com/Commentary/upside-down-markets

The American Brain (apropos) – https://waitbutwhy.com/2019/09/american-brain.html

Obvious Things that are Easy to Ignore (easy to ignore) – https://www.collaborativefund.com/blog/obvious-things/

Weekend Podcast Recommendations:

The Acquirers Podcast – Navalmanack: Eric Jorgenson on the Almanack of Naval Ravikant – https://open.spotify.com/episode/2o2b9QSc6cZHk5CPcYaQnv?si=ulh9maQaTPK2HG8kUy3vxQ

Odd Lots – How Softbank and Robinhood Traders Added Fuel to the Stock Market in 2020 – https://open.spotify.com/episode/69Ffyw01ePxKCHLXeUCPO8?si=7coolZGCSAGA-Gs0R3y29Q

Life’s tight (aliens exist)

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