Not that kind of ring. We’re talkin’ Wall Street, baby. A handful of folks flew in from all over the country to celebrate HCM, or more pointedly, Vance Howard, ringing the NYSE Closing Bell®. And nothing says ding-ding-ding quite like yummy numbers and the HCM logo plastered all over the trading floor. HCM was ready to boogie after the launch of two their two proprietary ETFs and two-year anniversary on the NYSE.
How ‘Bout Them Big Apples
The day in New York City began with scattered rain storms and gloomy skies. Yet as the HCM team rolled up to the New York Stock Exchange, the clouds parted and the sun shined as though the financial gods were smiling upon them. Even the weather new to shape up for Vance and his loyal minions.
Once the gavel had been dropped Vance made it a point to raise those celebratory fists like Rocky Balboa himself after reaching the top of the steps in Philly. What a ham, folks.
Who’s Feeling Deflated by Inflation?
Raise your hand if you’re feeling personally victimized by gas prices right now. Anyone else have a spit take when they saw $4.79 a gallon on the west coast? You could put a down payment on your first home with the amount of money it takes for a tank of gas these days. We bet you’re really itching for that Tesla you’ve been eyeing now aren’t ya? Well that’s inflation staring you in the face my friends. It’s happening with price tags across most industries.
Show Me the Numbers
According to the US Energy Information Administration, households this year will spend 54% more on propane, 43% more for home heating oil, and 30% more on natural gas. Oh, and we’ll throw in that extra 6% more for electric heating. And if you didn’t pick up on the pattern, the word more popped up quite a lot in the aforementioned sentence. Which means many Americans’ bank accounts will be surviving winter with some pretty hurt feelings.
In this week’s Wealth Watch, Vance quoted some guy who’s good with money essentially saying, “inflation tax feels the same as paying car insurance when you take the bus every day.” Or something like that. We haven’t seen these kinds of numbers since the 1970’s, and our question is, are the rates here to stay?
Until next time, we’ll be crying at the gas pump while reading Eat, Pray, Love to stay Optimiztic.