Global Markets Recap
Suddenly, we’re where we started as infection rates are soaring, hospital beds are vanishing, local economies are closing & stocks are falling. Among some of the worst theories advanced in 2020 is the notion heat kills COVID-19. The data in exceedingly hot Texas, Florida, California & Arizona suggests otherwise. I don’t know what’s more menacing; the upsurge in coronavirus or this photo of Jack Nicholson from “The Shining”. Both send shivers down my spine.
POTUS is casually advertising the fact they’ll make more money available to Congress if Speaker Pelosi picks up the phone. It’s an election year, though, so she may be busy.
Jason Yanowitz Tweets: “There is a 2nd wave of unemployment coming. 43% of businesses that received PPP will be out of cash next month. 69% of businesses that did not receive PPP will be out of cash next month. Time to turn on the money printer.”
Give that man the next Fed vacancy. By the way, I read the other day every single board governor of the Federal Reserve is a multi-millionaire many times over. That keeps all of our interests fully aligned in this time of national crisis, no doubt. When New York and New Jersey went through hell, they had the Manhattan media yelling their woeful story; now, this crisis passes silently, dangerously into the night.