California, Texas, Florida discussed on Retirement Game Plan

Automatic TRANSCRIPT

Premier financial advisors, Alex Perry, and then belt from Lot going on in the news. Normally we look to the holiday season for things to kind of settle down and get quiet. But if it isn't election news or stimulus package news, it's covert news And, of course, a record highs taking place both on the NASDAQ and the S and P. 500 along was sadly pretty significant unemployment numbers to hearing that just last week, 885,000 new unemployment applications and That for individual investors kind of trying to wrap their minds around all of this, It's becoming increasingly difficult, isn't it? You know, Craig. It's always a potpourri of conflicting positives and negatives. And this past week we've seen AH host of issues the Electoral college, putting the final nail in the coffin of President Trump. It is now gonna be imminently President elect Biden's ideas to implement from the White House, so we'll see how the first quarter rolls out with a new administration. We've seen Uninterested in mix of news this week. They're projecting a massive backup at United States, Post office, FedEx and UPS, all of us buying much more online. We're pretty limited and how we can shop a little reluctant to go to the mall and wear masks and getting crowds with people pushing and shoving and Buying, so it's much easier said in your bedroom slippers and buy online some other bad news this past week Oracle Larry Ellison deciding to move to Texas, along with recent announcements from HP, plantar and a number of other companies. When will this exodus stop guys that it's been significant sized companies saying, Okay, we don't like the politics. We don't like the cost The cost of living. Cause the housing in California will the epicenter of intellectual development moved to Texas and it'll leave Silicon Valley empty or will the Berkeley grad Stanford grads continue to feed intellectual environment that we've kind of been spoiled with? That'll be an interesting involved to watch in 2021 as the vaccine rolls out? And hopefully we get better control over this pandemic. Politically, there's been no shortage of of issues surrounding how the governor's air handling the covered issue. There's actually a pretty substantial recall. Other way. I think there's about seven or 8 50,000 signatures. So will Gavin Newsom be recalled. Or will this phase out? He's taking it pretty hard nose closed down everything in the hopes of stemming the tide. It's been that kind of opposite view off Texas and Florida. Florida's keeping everything open. It'll be interesting to look at the numbers 689 months from now to see which program had less cases, less deaths per million residents were seeing kind of the opposite view of how to handle the pandemic. We're all waiting for this $900 billion Bill to be passed by Congress. Supposedly, they're not going to let any of the congressional people go home for Christmas. So that's kind of a motivation for them to get the darn thing done and stop messing around. And so I like that philosophy. If it's real, or will they go home without a program being passed? It's always a collection of good news. Bad news. Surely the unemployment claim of 18 85,000 people filing for unemployment, not good news. Coming just before Christmas. Something interesting would be kind of a look at Pat maybe for next week was seeing those unemployment numbers and kind of diving into which states or having the highest Filing. Obviously, San Francisco's completely shut down, small businesses are becoming crippled. Do you see a disproportion amount of these unemployment claims coming from more shut down states probably like you know, for example of Texas what everyone's moving there how what's unemployment looking like in Texas right now versus Oregon or California? Even New York? The kind of the discrepancy there. Would you imagine it'll be interesting until take a note. Hindsight's 2020 and will reflect back on which was the better position to take. But there is clearly kind of 180 degree difference. Kind of the New York governor Cuomo and Gavin Newsom got taken the hard nose approach. Florida governor, Texas governor. Interestingly, there are different parties right Republicans in Texas Republicans in Florida versus Democrats in New York in California. Not to throw partisanship in there. But there is a philosophical difference and had their handling the endemic and that could lead potentially to a significant paradigm shift here as we talk about the nation's potential covert recovery with the deployment of the vaccine At the same token, it's almost as if there's been a day of reckoning for the state of California. Not that we're going to cease being the seventh largest economy in the world if we were independent nation anytime soon. Guys I have to wonder between increased taxes and the hostile environment here in California, both in terms of overregulation and the issue, of course, related to management of covert 19 by the governor. You have to wonder if maybe challenging days are in the future of California for some time to come. I definitely think so, Craig, you know if you look at the fact that Elon Musk is committed to moving out to California and Oracle, you know those are two big names right there, And if they're actually acting on it, that means there's you know how many others that are seriously considering it. You know the answer. There is gonna be a lot more, so we'll find that out and the months and years to come, But that's definitely the attractive thing to do. For some of these folks, you go to a place like Texas you have a bit less of a tax burden and Profitability increases a little bit, you know? Hey, for Tesla. Maybe that knocks down that valuation from little over 1200 something a little bit more manageable in the eyes of investors, at least but That's definitely Ah, theme. I think that's here to stay. You're in tune with Don't invest and forget the program that every week helps you keep your finger on the pulse of money from Wall Street..

Coming up next