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Tim Francisco <[email protected]> GOOD MORNING: 03/18/19 Farm Direction ­ Van Trump Report 1 message The Van Trump Report <reply@vantrumpreport­email.com> Mon, Mar 18, 2019 at 7:29 AM Reply­To: Jordan <reply­fece16747662067d­314_HTML­36250946­100003450­1@vantrumpreport­email.com> To: [email protected] "How wonderful it is that nobody need wait a single moment before starting to improve the world." ­ Anne Frank 1766, Parliament Repeals MONDAY, MARCH 18, 2019 the Stamp Act ­ The Stamp Printable Copy or Audio Version Act was nullified before it went into effect and was repealed by Morning Summary: Stocks are coming off another strong week of gains. The Nasdaq parliament on March 18, 1766 is now up over +15% in 2019, the S&P 500 and Dow are up +12% on the year. Bears under the Marquis of Rockingham. In the are wondering if a slowing Chinese economy, the slowest growth rate in 28 years, and a summer of 1765 King George III fired sluggish European Union will continue to weigh on global growth? Bulls believe bad George Grenville and replaced him with news is now being digested as good news in the stock market, as it means the Fed will Charles Watson­Wentworth, Marquis of continue to pause or perhaps remain in retreat. Traditional economic news will be fairly Rockingham. For the new Prime Minister light this week with the majority of the focus falling on the two­day Fed FOMC meeting the only alternative to repealing the tax scheduled for Tuesday and Wednesday. While most inside the trade doubt we see or was a long and costly civil war with the hear much change in rhetoric, there could be some additional hints about future moves. American colonies. Britain, as the world Keep in mind, this meeting not only brings a followup press conference on Wednesday greatest power, could not give up on the afternoon by Fed chair Jerome Powell, but also brings a "Summary of Economic decision to uphold the tax and give in to Projections". The trade will be very interested in hearing more about their longer­term mobs and activist in its colonies. Under opinions and potential economic concerns. The trade has switched from talking about a those circumstances the Marquis of "rate hike" to thinking the Fed might have to cut rates in the next 6 to 12 months. Also Rockingham had to find a face saving this week, the trade will be digesting some fresh U.S. housing data and the Philadelphia excuse to repeal the tax. The King was Fed Index, which is often referred to as the "Business Outlook Survey". The survey is not in favor of a repeal but he wanted a conducted monthly by the Federal Reserve Bank of Philadelphia and questions voluntary modification that would keep the tax only business participants on things such as unemployment, new orders, shipments, on dice and playing cards, however more inventories, and prices paid. The report is released on the third Thursday of every difficult to enforce. Rockingham month, making it the earliest such regional report which is released to investors, hence, threatened to resign and the king the reason it carries some weight with traders. Last week's Michigan Consumer conceded to repeal the Stamp Act Sentiment numbers, Retail Sales data, Durable Goods, and Construction Spending were entirely. Three pieces of legislation made all slightly better than anticipated. There has been talk of weakness showing up in the the repeal of the Stamp Act possible employment numbers. We had a much weaker than expected February jobs report, putting an end to the crisis. The first one then last weeks JOLTS report brought about some questions. I've heard from good was interpreted as a face saving motion. sources, the problem might simply be lack of qualified applicants. Keep in mind, job It was the Declaratory Act which affirmed openings now exceed hires by a record 1.78 million individuals. Business owners across that Parliament had the “full power and the country are saying similar things, it's tough to find and hire good qualified help! Me authority to make laws and statutes of personally, as a business owner, I don't mind paying more money, but in return I want sufficient force and validity to bind the stronger more dedicated work ethic. Unfortunately, many times that's simply not the colonies and people of America…in all tradeoff. The lack of available qualified help is creating a tighter labor market and is cases whatsoever”. The text did not contributing more quickly to increasing wage growth. Average hourly earnings are up mentioned “taxes” and Rockingham +3.5% on a year­over­year basis. The theory is, lack of qualified available help is resisted pressure to include “taxes” along starting to force companies to steal employees from other businesses or increase their with “laws and statutes” in the document. own employees pay in an effort to keep them from leaving. Several insiders are starting The omission of the word “taxes” affirmed to argue the "wage growth rate" is more quickly approaching levels reached near the the position of the colonist and drew a peak of prior economic cycles. I am also keeping my eye on crude oil and gasoline clear distinction between British prices. Gasoline prices rose almost +5% last week, adding to the +3% they were up legislation (which they could) and the previous week. WTI crude oil is up +27% already in 2019. The good news, gasoline taxation (which they could not). The prices at the pump are still not any higher than last year at this time, unleaded second one was an economic legislation averaging about $2.55 per gallon across the nation, diesel averaging about $3.01 per which labeled the Stamp Act as gallon. I believe that rumors of ongoing trade tensions between the U.S. and China, detrimental to commercial interest of along with continued talk of a slowing global economy, has worked to keep a lid Britain. The boycott to British goods had somewhat on crude oil prices. If we get an official announcement of a trade deal, I been felt in many industries across the suspect crude oil and energy prices again move higher. There's a lot of moving parts to Atlantic as well as in the trade of West consider right now, make certain you stay fully engaged. Indies natural resources. The American First Official Meeting Between Trump and Bolsonaro: Brazil's new President colonies had resorted to smuggling Jair Bolsonaro is in Washington meeting visiting President Trump. It is Bolsonaro's needed goods from French and Spanish first trip abroad for a bilateral meeting since taking office on January 1. The tough­ traders. The third was the Revenue Act talking, far­right leaning, Bolsonaro has long expressed his admiration for President which reduced the duty on molasses from Trump. There's some talk the U.S. might gain access to a satellite­launching base three pence to one penny per gallon on all in Brazil near the equator. Most political insiders suspect there will also be a ton of molasses imported from foreign or British talk about developments surrounding Venezuela, which shares a border with Brazil. territories. This duty generated more I should note, the U.S. is Brazil's second biggest trade partner after China. revenue than any other duty or tax in the colonies. Few protested this act as it was Interesting Revenue Data from Lyft: Lyft disclosed in its IPO document that it not seen as internal taxation but external generates about the same average revenue for each car ride as it does from a trip taxation on trade. In summary, the repeal on Lyft's growing network of rented bicycles and scooters: $3.75, to be exact, as of of the Stamp Act was successful because the fourth quarter. And second, Lyft's financials show that its average expense for Britain realized the distinction between each ride has gone up. Lyft set its preliminary valuation at between $21 billion and internal and external taxes. Parliament $23 billion—$62 to $68 a share. Read more at Bloomberg had tried to extend its authority over the colonies’ internal affairs and failed but Tesla "Semi" Will Soon Hit the Market: "Tesla is now accepting $20,000 continued to collect duties in its ports to deposits on its new Semi, per its website, and also taking $200,000 deposits for its regulate trade and as revenue. In other 'Founders Series' Semi... The Semi is said to "start" at $150,000 for 300 miles of words, external taxes did not affect the range and $180,000 for an extended range model with 500 miles of range." The principle of “no taxation without semi has been in testing since 2017 and has been occasionally spotted on the West representation”. Coast. This past Sunday, a new reservation page at Tesla.com went live allowing truckers to put down a deposit for the semi. There's also been some whispers and 1837, Grover Cleveland is rumors of a pickup trucking coming out after the semi is released. Musk hasn't Born ­ On this day in 1837, been shy about the pickup truck's features. He's noted it will have a dual­motor all­ Grover Cleveland, the only wheel­drive system "with crazy torque and suspension that dynamically adjusts for president to serve two non­ load." All this will reportedly be standard. It will also have power outlets to use consecutive terms in the office, heavy­duty 240V power tools in the field without a generator.

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