* China announces a record trade surplus * Media reports surplus as bad news for China * Because of the strength of the Yuan, Chinese can buy more imports for less * Chinese consumers purchasing more * Chinese businesses manufacturing more * Contrary to press reports these factors point to a strong economy in China * U.S. has record deficits along with a strong dollar * The short term effect of a strong currency is that trade deficits should go down because imports are cheaper * The fact that our trade deficit continues to rise illustrates underlying economic weakness * Media double standard: China trade surplus is bad but U.S. trade deficit is good * Media reports "low rate of unemployment" among college grads, however: * Record number of college graduates are under employed * Only 44% of employed Americans work 30 hours or more per week * In future, the smarter students will skip low-value degrees in favor of work experience * Shake Shack IPO valuation $1.5 billion on $5 million profits * Grilled Cheese Truck: valued at $100 million on negative revenues * Black is white and white is black: Twilight ZoneOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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