Best Performance?

Summary

Discussion of the potential impacts on equity, bond, commodity, capital and asset markets regarding the following:

• July 20th market inflection; Latest BLS Jobs Report  
• Demographics of the Job Market; Federal Witholding Taxes
• Miscalculated Modeling; NILF's

Last Time Out

"My magic 8 ball sees potential inflection around 07/20, 09/19 and 12/26." –  July 20 – Big Blue?

Above on 07/20 we concurred with one of our mentors, since then:

• DJIA peaked on 07/20, since then down 8 of 10 sessions with 7 straight down days.

• USD/JPY plunging straight down from 106.84 to 100.89

• JGB 10 yr yield soaring 16bps from -0.233 to -0.075

• SP500 has made a new all time high

Quite the market inflection point indeed. Please excuse tonight's lack of a movie theme, for although June 28, 1975 has long since passed, we have an inspirational guest in the house. Tonight, our guest of honor who is one of our mentors, will be helping us paint a picture and hang it on the wall, in a frame of perspective, so to speak.

Never an actual performer, but a writer by trade and occasional narrative guide to the macabre, he was known as the "angry young man" of Hollywood, clashing with television executives and sponsors over a wide range of issues including censorship, racism, and war.

In elementary school, Serling was seen as the class clown and dismissed by many of his teachers as a lost cause.  During his military service, in the 511th Parachute Infantry Regiment and Demolition Platoon (Death Squad) of the 11th Airborne Division, Private Serling was awarded the Purple Heart, the Bronze Star, and the Philippine Liberation Medal.

In 1955, the nationwide Kraft Television Theatre televised a program based on Serling's 72nd script.  Robert Lewis Shayon stated in the Saturday Review, "in the years I have been watching television I do not recall being so engaged by a drama, nor so stimulated to challenge the haunting conclusions of an hour's entertainment."

Serling went on to write Requiem for a Heavyweight for the Playhouse 90 TV series in 1956 and the film adaptation. Serling was often forced to change his scripts after corporate sponsors read them and found something they felt was too controversial.  Frustrated by seeing his scripts divested of political statements and ethnic identities Serling decided the only way to avoid such artistic interference was to create his own show.  Sources - Wikipedia

Serling went on to create and write for both the iconic Twilight Zone and Night Gallery TV series.  Amongst his many screenplays, the original Planet of the Apes adapted from the 1963 Pierre Boulle novel. Amongst his many nominations and awards, Serling would go on to win six TV Emmys.

Mitch Albom speaks to the Five People You Meet in Heaven while James Lipton asks, "if heaven exists, what would you like to hear God say when you arrive at the pearly gates?"  For my part, Rod Serling would be on that list and amongst other things, I would love to hear, "Mr. Serling has been waiting to speak with you".

Gallery is not designed for sunshine, or the cheery vestiges of the good life.... a collection of portraits in black - stories of the eerie and unpredictable.... The portraits we'll tell about are not to be found in art museums or run-of-the-mill exhibitions.  The subjects are much too out-of-this-world to seek permanence in paint an pigmentation. They'll move across your screen at a deadly gallop. Watch for them and watch for me on... Night Gallery. - Rod Serling

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