Your Look At Things You Need To Know For Your Thursday

As you face your day, Smile Often, Think Positively, Give Thanks, Laugh Loudly, Love Others ,Dream Big, Remember, Life is like a Camera, Focus on What’s  Important, Capture The Good Times, Develop From The Negative and If Things Don’t Work out, Take Another Shot. Difficult Roads Often Lead To Beautiful Destinations.

Many find that their anxiety levels will go up when they watch cable news, which causes many to avoid cable news or information that would otherwise help or hurt our society. ” The Government of the people, by the people, shall not perish from the Earth.” Abraham Lincoln.

Stay engaged in the business of OUR SOCIETY, take a break if you get overwhelmed. But equipped yourself with information so that you can make a educated decision that will impact OUR SOCIETY in a positive way. TAKE A BREAK, BUT,  Don’t Quit.

here’s what you need to know to Get Up to Speed

Image result for cartoon politics january 4 2018

 Trump fires back at Bannon over comments in new book
A bitter public feud erupted Wednesday between President Trump and his former chief strategist, Stephen Bannon. New York magazine and The Guardian reported that Bannon said in the upcoming book Fire and Fury by Michael Wolff that a meeting between Trump campaign insiders and Russians was “treasonous.” The White House responded with an official statement from Trump. “Steve Bannon has nothing to do with me or my presidency,” Trump said in the statement. “When he was fired, he not only lost his job, he lost his mind.” Trump also said that now that Bannon is “on his own” back in his old job as leader of the conservative site Breitbart, he “is learning that winning isn’t as easy as I make it look.” Trump’s lawyers threatened Bannon with legal action.

Source: The New York TimesThe Guardian

 Trump shuts down controversial voter-fraud panel
President Trump on Wednesday announced that he had disbanded the controversial White House commission he created to study voter fraud. Trump, who made a baseless claim that he only lost the popular vote to Democrat Hillary Clinton because millions voted illegally for her, said that “despite substantial evidence of voter fraud” he was disbanding the commission to avoid spending taxpayer money on legal battles with states that have refused to give the panel “basic information.” Critics celebrated the commission’s demise, saying it proved there was never any evidence of significant voter fraud. “The commission’s entire purpose was to legitimize voter suppression,” said Vanita Gupta, the president of the Leadership Conference on Civil and Human Rights and former head of the Justice Department’s Civil Rights Division.

Source: The Washington PostThe New York Times

 Manafort sues DOJ, Mueller
President Trump’s former campaign chairman, Paul Manafort, is suing Special Counsel Robert Mueller, Deputy Attorney General Rod Rosenstein, and the Department of Justice. Manafort has been indicted for financial crimes to which he has pleaded not guilty; his lawyers now claim he was improperly targeted by Mueller. Rosenstein appointed Mueller last spring to oversee the federal investigation into Russia’s meddling in the 2016 election, and the mandate states that Mueller is allowed to investigate “any matters that … may arise directly from the investigation.” That clause, Manafort’s lawyers argue, improperly gives Mueller “carte blanche to investigate and pursue criminal charges in connection with anything he stumbles across while investigating.”

Source: CNBCBuzzFeed News

 Lawmakers get to work trying to avert a government shutdown
Congressional leaders met Wednesday to begin negotiations to avert the threat of a government shutdown. Congress passed a stopgap funding bill in December to postpone the potential shutdown until after the holidays. As the Senate returns this week, immigration threatens to be one of the biggest obstacles to a deal. President Trump has insisted “there can be no [Deferred Action for Childhood Arrivals] deal” without a border wall, but Democrats have already rejected that. Health care and national security spending also could produce shutdowns. Democrats have already insisted on a deal that matches every dollar of additional Pentagon spending with a dollar for domestic programs.

Source: Politico

 Brutal winter storm hits Southeast
A brutal winter storm hit the East Coast on Wednesday, bringing snow and freezing rain as far south as Florida and Georgia. Authorities shut down schools and grounded airline flights in hard-hit parts of the Southeast. Forecasters warned the storm could become a “bomb cyclone” as it moves up the coast, with its pressure dropping so quickly it could intensify explosively. It is expected to move north, bringing snow to the Mid-Atlantic and then potential blizzard conditions in New England on Thursday. “Bitter cold and dangerous wind chills to persist into the weekend,” the National Weather Service said in a warning Wednesday morning.

Source: The Washington Post

 Fire extinguished at Clinton home in New York
A fire erupted Wednesday at Bill and Hillary Clinton’s property in Chappaqua, New York, but the flames were promptly extinguished. The fire was in a Secret Service facility, not in the home of the former president and former Democratic presidential nominee. The Clintons were not home at the time. The Clintons have lived in the Chappaqua house for nearly 20 years, after buying it in 1999 for $1.7 million. Police said the Secret Service would provide further details on the fire, which started in a bedroom, according to scanner reports. “All is OK!” Clinton spokesman Nick Merrill tweeted.

Source: USA TodayThe Associated Press

 Doug Jones sworn in, reducing GOP Senate majority by 1 seat
Democrat Doug Jones took the oath of office Wednesday, after defeating Republican Roy Moore in Alabama’s special Senate election, reducing the GOP’s Senate majority to 51-49. Tina Smith (D-Minn.) also was sworn in to replace former Sen. Al Franken. Jones took a seat that was held by Jeff Sessions until he became President Trump’s attorney general. The simultaneous arrival of Smith and Jones provided a clear sign of the impact of the anti-sexual misconduct “Me Too” movement. Jones upset Moore after the Republican’s campaign was hampered by allegations that he had sexually propositioned or assaulted several women when they were teens and he was in his 30s. Franken left the seat now held by Smith after several women accused him of touching them inappropriately.

Source: The Washington Post

 Fed minutes show broad agreement on continuing plan for rate hikes
Most Federal Reserve officials remained committed to “continuing a gradual approach” to raising their benchmark interest rate, according to minutes of Fed policy makers’ December meeting. The central bank’s Federal Open Market Committee’s members debated the risks facing the economy, with some remaining concerned that inflation was still below the target of 2 percent. Others noted that growth and hiring remained strong, supporting the case for continuing to raise rates from historically low levels set to lower borrowing costs and help lift the economy out of the Great Recession. The meeting was Janet Yellen’s last as Fed chair.

Source: Bloomberg

 Tesla reports lower-than-expected Model 3 deliveries
Tesla on Wednesday reported delivery numbers that fell short of Wall Street expectations. The electric-car maker said that in the final days of the last quarter it reached a production rate that “extrapolates to over 1,000 Model 3s per week.” The company’s founder and CEO, Elon Musk, had said previously that he expected production of the Model 3, the company’s first mass-market vehicle, to be “in the thousands” by the end of 2017. Tesla had been aiming to be cranking out 5,000 Model 3 sedans per week early this year, but now says it expects to reach that milestone by the end of the second quarter. The company’s stock fell by 2 percent in after-hours trading after the numbers were released.

Source: CNBC

 Virginia Democrat loses bid to restore her victory, overturn tie
Virginia election officials will go ahead with a lottery-style drawing to determine the winner of a tied Virginia House of Delegates race, after a recount court on Wednesday rejected Democratic candidate Shelly Simonds’ challenge of a ruling that negated her one-vote victory over incumbent David Yancey. Republicans held onto a one-vote, 50-49 margin in the 100-seat state House after losing ground in November’s election, with the outcome of the race between Yancey and Simonds still undecided. If Simonds wins, the chamber will be split 50-50, stripping Republicans of their majority and forcing them to make a rare power-sharing deal with Democrats.

Source: Reuters

The Week

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(411 on Business & Real Estate Taxes  )

Courtesy of Mark J Kohler, CPA, Attorney, and Mathew N. Sorensen, Attorney..

Breaking down the GOP Tax Bill: Individuals and Small Business…Join Mark and Mat as they go through the GOP Tax Bill and make sense of it in layman’s terms. Will you Save?  How much?  What are the top tax tips for individuals and small business? Yes, it’s a complex piece of legislation, but Mark and Mat make it easy to understand and ‘some what’ fun to learn about.

Listen Now on iTunes, StitcherBlogTalkRadio and Refresh Your Wealth.

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Forward Guidance

Record commodity rally, Trump attacks Bannon, and a major weather event for the Eastern United States.

Commodity rally

The Bloomberg Commodity Index is set for a 15th consecutive day of gains as metals and oil climb higher, supported by supply disruptions, a weaker dollar, and bullishness on global growth. A barrel of West Texas Intermediate for February delivery was trading at $61.82 by 5:45 a.m. Eastern Time after briefly topping $62 earlier in the session. Copper gained 1.5 percent in London trading as positive U.S. and euro-area factory data added momentum to global growth prospects.

Bannon under the bus

President Donald Trump said his former top strategist, Steve Bannon, had “lost his mind” after he was fired from the administration, after excerpts were published from a book in which the former White House strategist criticizes the president and his family. The dispute is seen as a positive by establishment Republicans who saw Bannon’s promotion of fringe candidates as a threat to their chances of retaining control of Congress at this year’s mid-term elections.

Storm’s a-comin’

Thousands of flights have been canceled and weather warnings issued along the Eastern United States as a massive winter storm threatens the area with flooding, snow, ice and high winds. Schools in New York and Boston are closed, and the lock-up for today’s weekly jobless numbers has been canceled. Natural gas surged to a record, while electricity prices reached the highest prices in years.

Markets rally

Overnight, the MSCI Asia Pacific Index advanced 1.2 percent. Markets in Japan returned from a holiday with their biggest gains in more than a year with the Topix index jumping 2.6 percent and the Nikkei 225 surging 3.3 percent. In Europe, the Stoxx 600 Index was 0.5 percent higher at 5:50 a.m. Eastern Time, in a broad-based rally. S&P 500 futures added 0.2 percent, the 10-year Treasury yield was at 2.471 percent, and gold was slightly lower.

Tesla setback

Tesla Inc. has once again pushed back its target for assembling 5,000 Model 3s per week, this time to the end of June. The company reported 1,550 deliveries of the flagship car in the final three months of 2017, well below average analyst estimates. Shares in the company are more than 3 percent lower in pre-market trading. Tesla did exceed forecasts for deliveries of its Model S sedan and Model X crossovers, with a combined 101,312 of those models leaving the factory in the last year.

Here’s what you should read today

Bloomberg

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