April 1, 2023 | Consumer Confidence, Apple & Disney, Binance and California Down Payment Assistance Program

<p>Consumer Confidence I was happy to see the consumer confidence number come in today at 104.2 for March which was up from February’s 103.4. For me this is another positive sign that we will not have a major recession, and that consumers will continue to spend on goods and services. I want to emphasize this is a good number not a great number. The reason I say that was from 2008 to 2012 the confidence number was below 60 but in 2019 it rose to nearly 140. So, I am happy with the current number for now.</p> <p> </p> <p>Apple and Disney There is talk today, that Apple may be buying Disney. No numbers have been released yet but I do not believe this will take place or that it would make any sense for Apple. Apple may be looking for the media side to help grow Apple TV but if you buy Disney, you also must take care of the theme parks and the cruise lines which Apple has no experience or I feel no desire to do. They could spin those off, but I think if they are going down that path, they would be far better to buy either a Warner Bros. or Paramount, which are pure media plays. Also keep in mind Apple has not done any major purchases in recent years and its largest came in 2014 when it bought Beats for $3 billion. To buy Disney the current market cap is nearly $180 billion, versus Warner Bros. at nearly $37 billion and Paramount is just over $14 billion.</p> <p> </p> <p>Binance This has been quite the week for Binance which is the world’s largest crypto exchange. You wouldn’t know it from the price of Bitcoin, which has now climbed to over $28,000. It defies logic, and I’m sure more people will get burned once again. The CFTC known as the Commodity Futures Trading Commission has charged Binance with operating illegally in the US and violating rules to prevent illicit financial activity. Billions of dollars have been walking out the door from the company, and as I said months ago, Binance would be the next crypto company to fall. As these crypto companies continue to fall, I don’t know how Bitcoin can stay at these lev