Bitcoin investmentsmy top 5 crypto currency picks for 2018
The three major indexes close at records as oil prices rise and investors grow increasingly optimistic about earnings. What the cash will mean to the economy. Why a small town in Washington has suddenly become the epicenter of the cryptocurrency craze.
It is a familiar refrain. It was a record day on Wall Street again today. The Dow Jones Industrial Average advanced points to 25, The CEO says the new tax law is giving the company the opportunity to be more competitive globally. Several stores closed abruptly but others will be closed over the next few weeks. The membership warehouse store says the decision was made to better align its locations with its strategy.
Walmart is not the only company to increase pay and offer bonuses to workers lately. Eric Chemi is here to discuss that part of the story. Eric, how common has this trend been among the top ten, say, private employers in the country, bonuses, hike in pay?
HDIBM, these real big, giant household names. But Walmart is the only one that has a specific plan. If you go further than the top ten, what other companies have made a move, if at all, to raise wages? BAand then you start to see a lot of companies that have done wage hikes, one-time bonuses, or corporate investment, for example more employee giving, infrastructure improvements, education spending, those kinds of bitcoin investmentsmy top 5 crypto currency picks for 2018.
So, a lot of different approaches depending on the companies. There are a couple of things the interesting to me. It was not only pay they boosted. They boosted some benefits, maternal and paternal leave and other things. We have earnings season coming up, so maybe companies want to get through that first, then get the PR bump a couple of weeks after earnings with some new announcement like this. Tell me what you think the impact will be, as Eric just detailed, Walmart is the first in the top 10 to do it.
But as he also pointed out, there are other companies lower down on the totem pole, if you will, that have been doing that. And so, I think it does reflect the tightness of the labor market and the fact that we will see a little better wage growth this year, finally. I can see a twofold effect here. Do you see it that way? If so, by how much? We expect to see the consumer really drive growth this year. The wage growth part is really just the icing on the cake at this point. You know, there are negatives.
The most acute concern would be that it becomes inflationary. If you have so much demand for products and services, that you start to see prices rising and inflation starts to rise faster than the Fed wants. But that is the most acute one. The longer term concern is that the more you raise wages, the more you raise labor costs, the more economic incentive businesses have to replace that labor with automated mechanisms.
So, that will be a longer term challenge. And speaking bitcoin investmentsmy top 5 crypto currency picks for 2018 inflation, a key gauge of inflation fell for the first in a year and a half. The producer price index slipped 0. Some economists say the weak report could temper expectations that inflation will accelerate this year.
Still others believe inflation will pick up. And that could pose a threat to government bond investors because it could erode the purchasing power of their fixed interest payments.
But really, most fixed is are longer term investors. You just said if you think rates are going higher you would want to go to lower duration, maybe some higher yielding products in your funds, in your individual portfolio. But what do you think? Do you think rates are going to be markedly higher? And if that is true, what would you do, what would you roll out and roll into?
We have really strong equity markets. And we have some reduced exposure, you know, the ECB talking about bringing back their bond-buying program.
But this sector is sensitive to bitcoin investmentsmy top 5 crypto currency picks for 2018 changes and any increase could make bonds more attractive to risk averse investors. So, if you do have utilities in your portfolio, what should you do? Brad, I can think of this as a double edged kind of thing. On the one hand, rising interest rates tend to be anathema to utility stocks. On the other hand, a better economy ought to increase their earnings. The first thing to do here is not panic, because at the end of day, rates may go up a bit, but it — the effect is going to be modest.
If you bought these securities for income, rising rates are not going to hurt your income. So, the first thing here is not to panic.
So at this point, then, do you take a look at the utilities that you have and see which ones perhaps are more vulnerable bitcoin investmentsmy top 5 crypto currency picks for 2018 rate increases, as modest as they might be? Or — and maybe sell some of those and add other aspects or other types of utilities to the portfolio or not? Well, utilities as a whole are indeed vulnerable to rate increases.
In fact your income might even go up. Brad, thanks so much, appreciate it. This is one of bitcoin investmentsmy top 5 crypto currency picks for 2018 largest bitcoin mining operations in all of the United States. Dozens of crypto miners are coming to Wenatchee. They need a lot of power for these servers. A day of many moving parts in Washington, where a bipartisan group of senators said they had reached an agreement on immigration. The deal would protect undocumented immigrants.
But some lawmakers along with the White House say they are not ready to endorse this deal. Now, the six senators say their agreement address the so-called Dreamers, and border security as well, and family-based so-called chain immigration.
Immigration of course is an issue closely watched by big business. A small town in central Washington has become the epicenter of bitcoin mining in the U. How did that happen?
Well, it all starts with extremely cheap power. Wenatchee, Washington, three hours east of Seattle and surrounded by beautiful mountains, famous for its scrumptious apples and now famous for something else — bitcoin mining. More than a dozen cryptocurrency companies have started mining operations like this one. Mining is a process using extremely fast computer servers to solve complex mathematical equations.
The reward for solving those equations? Bitcoin, a new digital currency. We have 1, servers in this location. And they are doing two things. One, confirming the network, two, racing to find the next group of bitcoins. Malachi Salcido has invested millions in three local mining facilities, and is producing five to seven bitcoins per day.
He believes the underlying software network of bitcoin, known as Blockchain, will become the payment system of the future. What businesses is it not going to disrupt? Banking, securities transfer, interbank settlements, credit card services, PayPal. But to run a mining operation like this one requires a lot of electricity. Here, electricity costs between 2 cents and 3 cents per kilowatt hour. The average in the United States is more than 6 cents and in some states, more than 10 cents.
Steve Wright runs the Chelan County public utility. He says there are currently 12 large bitcoin miners in the area. But bitcoin investmentsmy top 5 crypto currency picks for 2018 the recent dramatic rise in the price of bitcoin, many more want to come. But the infrastructure required to service miners is expensive. Just to lay a mile of cable can cost millions of dollars. The report also estimates that mining for cryptocurrencies would suck more power from global electrical grids this year than electric vehicles would draw in the next seven years.
Well, the boom in cryptocurrencies has newly wealthy investors looking to spend it. And luxury real estate is fast becoming the ticket. That has luxury sellers hoping to cash in on the craze as bitcoin investmentsmy top 5 crypto currency picks for 2018. Wei Chen built this five-bedroom, seven-bathroom beachfront oasis 10 years ago. The Malibu home is unlike any other architecturally, and Dr. It just depends which one is going to be what we call stabilized in the current market.
But the boom in cryptocurrency wealth created new ones, especially international buyers.
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