The only place I use ‘if’ more than the golf course is when I talk about the stock market.
In that vein…
If the last 3 months are telling us anything this chart from JC sums it up …
That money Mango Mussolini pissed away on ‘defense’ and ‘space wars’..poof..it’s gone. The virus does not care how much we spend on weapons.
The money we used to save the banks…Wells put it in the ‘stagecoach’ and the robbers (management) took it.
The money is speaking/flowing…
The Stocktwits, Etoro and Robinhood kids want cures for COVID and cancer and they want their internet.
Makes sense to me.
What does not make sense to me is the continued disconnect from the economy…which is shit by the way.
I’m at our home in Coronado.
I’m wearing my mask. I’m washing my hands a lot. I went hiking with my partner Gary and our pals Alex and Russell and we wore masks and socially distanced.
We talked about a lot of things, but mainly that the economy is for shit.
On the way home I went to stop by my favorite sushi place in the city. I chatted with my friend, the owner and chef and he can’t get a break from the landlord and he is at 20 percent of his regular business going on 3 months. Tomorrow he gets to open under some stringent rules that should allow his to be at 40 percent for a month or so.
We chatted about the local economy and how broken it is. He’s a good entrepreneur and will make it through the other side one way or another, but he had that look in his eye when we talked about Downtown San Diego economy.
At my golf course (I pay an out of state membership), almost 20 percent of the members have quit. I thought people that joined golf courses could survive 60 days of a closed course. Nope.
Our leaders can huff and puff and send random checks in the mail. They can push back tax dates (I don’t think that was a good idea) and they can blather on social media, but this economy is a mess.
Every company is figuring out how to do more with less. Once they figure it out, those jobs are not coming back.
This stock market is not the economy.