The best strategy right now is to live each day according to the LATEST DATA. The landscape is changing so RAPIDLY; one cannot make any long-term plans without seeing them become OBSOLETE and irrelevant the following morning.
China has been LYING since day one!
The markets are pricing in a SWIFT resolution to Covid-19, an immediate cure and a quick return to normal, since stocks have been ON FIRE since last week
This is the most critical week since the Covid-19 disease was declared a pandemic. In the U.S. alone, there are over 110,000 REPORTED CASES and that means that the real NUMBER is probably in the neighborhood of double or even TRIPLE that amount.
Markets were celebrating a DONE DEAL. Stocks headed much higher, and the largest-ever fiscal and monetary financial aid package was underway.
That’s it; we’ve now seen that both the Federal Reserve and Treasury Secretary Steve Mnuchin are definitely ready to BOMBARD the U.S. economy with virtually UNLIMITED liquidity – cost and unintended consequences be damned.
Since 2008, the middle class and the working class have SEEN ENOUGH of corporate bailouts. Now, when CEOs shout that they’ll go bust if Washington doesn’t provide liquidity, Congress isn’t so quick to be the lender of LAST RESORT.
At this point, society is being REARRANGED. Forget everything you know about our political, judicial, and financial systems, and the values we cherish.
Yesterday, in one of the worst-ever days on Wall Street, we halted one and nearly HALTED, due to the 2nd circuit-breaker, which only triggers at -13%. It was THAT CLOSE!
The last time that the Dow Jones Industrial Average traded in this way was in October of 1929. This, to history lovers, should SOUND THE BLOODY ALARM.
