Fed Minutes Loom

With Elaine’s second hip surgery done, we are back to being transfixed by markets. Which have become a bit off-the-wall this week.  Part of future direction may be guided by Fed Minutes but there are a ton of interest-sensitive “moving parts.” as we will discuss.

Thanks to the many well-wishers and thanks for your prayers on Elaine’s behalf.  Unlike the first surgery (splitting of femur, banding, and weight restrictions) the surgery this week was “right by the modern medicine playbook.”

Her surgery began around 10 AM Tuesday.  By 2:45, not only was she in a wonderfully appointed room, but she had also been up  and walking (!) about 30-feet.

Amazing: in five hours to go from extreme joint pain to a new metal hip joint and walking with no weight restrictions is close to magic.

With our usual charts and comments, let’s see how the markets behaved while we were distracted by medical realities, shall we?

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24 thoughts on “Fed Minutes Loom”

  1. George,

    Glad to hear Elaine’s Hip#2 surgery is going well, so far.

    Like to comment on the state of agriculture because of the chip shortage. Call me a dinosaur if you like, but my small farming operation (200 acres of crop) will be affected very little by chip shortages. All of my equipment uses direct mechanical diesel fuel injection. Get laughed at by other in my area, because they have spent countless thousands on “the newest, greatest” gizmos that sit idle in the field because a sensor tells the onboard computer to shut down. My tractors (well maintained) either run or they don’t; but the fix does not require chips (unless you count those in the parts department computer).

    Only piece of equipment that relies heavily on chips is the spray rig, which uses an onboard computer to adjust the spray rate on the go. Even it could be rigged to work manually by using the computer between my ears.

    Because the equipment manufacturers closely guard the software, you cannot work on the modern tractor, etc. yourself. With mine, that is not the case. If fact the older non-computer machinery is commanding a price higher than when it was new.

    Granted, I farm on small scale compared to most; but it is more than enough to keep a 70 year old out of mischief. Don’t hire a helper, because I don’t want the headache of “babysitting” someone who really doesn’t want to work and knows next to zilch about anything. Plus, most can’t stay off social media long enough to do anything.

    I’ll just plod along with my antique tractors, and laugh as I go to the bank because machinery is all paid for.

    • Amen! I dread the day my Ford 340A goes down for the count. I’ve replaced almost all of the hydraulic hoses on it, especially after I found someone that would make them for a reasonable price and Batteries Plus still has the batteries for it that get replaced pretty regularly. One of these years I’m going to get the Caterpillar up and running again and the nearest service site for the Sullair compressor is 2 hours away at best but when they’re running they beat the best anyone has out there right now.

    • Dam dude – U be a one of them newfangled modern Farmers,gas powered, compared the farms around my partz of Pennsyltucky.
      Majority of farms in immediate area are Mennonite family owned/operated, 10 miles west – Amish farms dominate. Strictly Horse powered – they all look like Haflingers with short cropped manes – punk rock look.

  2. Glad to hear about Elaine’s successful surgery yesterday. Best wishes to both of you

  3. Crypto Currencies – a lot like Custer at the Little Big Horn today.

    I don’t trade them but I do find them fascinating since they are driven by pure technicals and emotions. I only kinda watch a couple of people who trade them but one of those two called Bitcoin as hitting a major TOP when it hit $64,400 back in mid April, at which time he went short. In retrospect it looks like a GREAT call.

    https://finance.yahoo.com/cryptocurrencies

  4. Hi George, happy to hear Elaine doing well, I had my hips replaced 26 years ago, still doing great. I am hoping when the time comes I am 86 now all they will have to do is replace the Plastic liner on both hips and I will good for another 26 years. I am hoping a long life. Ha ha. Stay Safe. Stephen

  5. Congratulations on Elaine’s successful surgery. Best wishes for a speedy recovery. Many thanks on the Medicare advice. I’m paying attention.

    And congrats on your Bitcoin warnings. All it took was for China to say no.

  6. I’m glad to hear Elain’s surgery & recovery is going well. I, and a lot of your readers really appreciate today’s column. Please try to not push yourself too hard. If you have to miss a column or two, we all understand.

  7. Blessings to you both and prayers for an uneventful recovery.
    Thanks for what you do Mr. Ure, from the cheap seats!

  8. Beeep, Beeep, Beeep , Beeep , Beeep..

    G-cat, thats the sound of the da truck backing up.

    Ure gonna want a full load of Bitcoinz at these current sub $40k prices.
    (buybuybuy)
    Its “dam the torpedoes, full speed ahead” time for BTC, not to mention copper&silver.

    La Nina kicking Brazils agricultural ass, but good, as in record drought.. soundz familar..
    – US/ Desert southwest is set for exponential growth this summer. Not much in the way of food crops or animals gonna survive that heat and severe lack of water.
    Going longer the bean complex, peeps gotta eat something this year..
    ‘summer synthetic BBQ’ synthetic long Beefs, long whole hogs.

    • How do you short btc & eth? 30% down and 20% bounce happened so fast the finance “media” hacks only caught the drop before taking the day off. 56% gain day trade ain’t hay, and no leverage if you could short those little basserds.
      all my friends are junkies

      • Single most dangerous, speculative trade a person could make. Shorting Bitcoin – exposes the Short to Unlimited Loss, again, Unlimited.

        Can be Shorted in the Futures Market, using super tight Stops, still not an acceptable Rick-imho

  9. Yeah, the ‘surgery experience’ is an unknown train of events until you have been through it once. Ten days long for my diverticulitis removal & recovery. Luckily you have the roadmap for what to expect. At my post-op visit to my primary care physician, he kinda flippantly asked if this was my FIRST abdominal surgery. “God, yes! And I hope it’s my last!”

    • “Luckily you have the roadmap for what to expect.”

      I have a cute story Hank… way back… in the late seventies.. I had what I thought was the flu.. boy I was sick.. anyway after a week I got hungry and had a burger and fries.. pop.. went into the dip n dunk room and passed out.. I was so sick.. was going to go home but instead they took me to the hospital .. ( which ended up to be an extended stay.. I was bleeding internally.. a perforated bile duct that had ripped open and peritonitis . Well they stuck me in.. and when things got to the point where I was going to have to have a gallbladder surgery.. ( they did the ole fashioned open you all up.. type then) I was scared.. the doctor ( who saved my life) was the teacher at the medical school.. I had read all the books on the surgery the doctor and I was visiting and he would answer my questions.. then one day said.. maybe you should sit in with the classes.. so I did.. and then similar to the students sat and observed the surgery from the observation area.. with the other students.. there wasn’t a question left in my mind on how it would proceed.. went through the surgery.. afterwards in misery.. the doctor came in and said so how are you.. I said .. you know I am just fine.. but what I didn’t learn in the classes was just how miserable I would be afterwards.. he and I both got a laugh out of it..
      Years later… the doctor and friend had to have his leg amputated.. being a perfectionist.. he was a terror for the nurses.. I was there and the nurses were talking about this Azzhole doctor.. that was the major pain in the azz riding the staff like they were worthless.. and I said… WHO… oh my god let me go take care of this.. grabbed a cup of jo for him and went into his room.. we had a great visit.. he definitely remembered me.. and I brought up the nurses..
      I said you have to be easier on them.. he said I just want it to be perfect.. YUP and they will get a perfect temp off of you every ten minutes if you are to insistent.. LOL LOL LOL he started to laugh and said well maybe I have been a little hard on them and calmed down.. he was the perfect patient after that.. the nurses couldn’t get a clue what happened I said that man saved my life and I owed him.. so it was easier for me to talk to him than anyone else.. telling him to be nice wasn’t that hard …

  10. I’m truly glad that Elaine’s second time around went so much better than the first, so far. More hopes and prayers for her total health! Thanks for today’s most interesting column, especially after all this drama.

    How is the first hip now? Is Elaine fully recovered from that? Is there any residual complications after the splitting and banding? I’m truly grateful for the apparent (relative) simplicity of this second surgery compared to the first.

    Regarding BTC and wannabe’s, I never had time to understand the mechanics of these things in sufficient detail to create a business model around them. It reminds me of the silver surge back in 1980 or so, and the lumber surge now. Like many “investments”, the market gets very thin at the top, so selling gets challenging. Unlike most commodities, the process to sell is very complicated and relatively unregulated. It seems that it’s easy to buy and hard to sell(and get paid).

    Perhaps the cost of graphics cards will come down……

  11. hate to tell all you gold cow herd folk but we got it !!!! your gunna fing wish you never got involved in that fixed crap game .. yeeeeeeeeeehhhhhhhhhhhaaaaaa. 14.12 !!!!!!!!!!!!!!!!!!!!!!!!!

  12. wow.. went into the gas station.. Heard this strange pop pop pop sound… asked about the new concrete project.. he said guess how much .. well roughly twelve yards of concrete.. hmm.. ten grand.. nope guess again .. then that strange sound.. all over again..
    It was his spinster muscle snapping shut.. almost a hundred grand.. wow.. it went up that much.. wow..
    tell me new construction is going good then I hear about that.. what would a new house cost.. almost as much as a garden shed in SanFran.. I am betting..

  13. as for sheetcoin . as i said the FED has used that for years to pump the juice in . now that the rubbish is exposed . its hasta la vista conmen . yep the gigs up . the short everything jedi will restore the balance . enough new gold cows now to give em a taste of what we put up with , the REAL bulls for 25 years . it will come one day but theres a lot of water to go under the bridge yet

  14. I wish Elaine a quick and speedy recovery!! So wonderful to read that she is doing so well. Health and happiness to the both of you.

  15. Here’s wishing Ure better half a speedy recovery – she’s already been there done that, she will do it again!

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