Common sense commentary on the covid 19, politics and the economy.
First the divide is because you can ride the change train for free, and most of the "folks" are still expecting BO to come to their front stoop and hand them a check directly from the tarp bank account. Wait a minute. I forgot that the tarp money has already been vaporized by wall streets "best and brightest".
2. the market isn't saying much to Obama. The market is finally saying OK now we realize the change train is more of the same train and that the trillions spent on stimulus will not turn the tanker ship of the economy around until it reaches the delta. The message of "superpower, super hero administration" was sold to the American people and they are still buying it. If the administration can keep selling this message long enough the economy will turn on its own and Obama might get re-elected. Most people are too caught up in surviving their daily lives to really give a crap what the stock market is saying. The truth is that the media covers the market more than it covers the "folks". The people going on TV are always selling something or they wouldn't likely be there spouting off some ridiculous opinion on how to save the world economy.
4. Straight from Merriam Webster --hemorrhaging-a rapid and uncontrollable loss or outflow. Example - A financial hemorrhage.
When we are hemorrhaging 650000 jobs a month, most people are more concerned about their next paycheck than they are about their 401 k. I also would imagine that most people have been pummeled so much that their 401 k might be cut in half and they have just decided to not even open their statements now. The probably figure that it is too late to do anything about it now and I am sure the mutual fund brokers are selling the same old book but now with the extra pitch that you don't want to miss the upside bounce that is sure to happen any day now. I think that might have been true in July as well.
your feedback and opinions welcome.
No comments:
Post a Comment
your feedback and opinions welcome.