Yes, market is trying to look ahead. But understanding exponential trends is hard for humans. The 3m unemployment has been priced in. No one was shocked by it. But how about Florida and the South flaring up? Louisiana looks strapped on the exponential rocket, so is Michigan. I don’t think the market has priced in the rest of the country outside of CA, WA and NY being hit hard.
OTOH I think we are more like 1987 than 1929.
Good. We’re on the same page.
I have no idea whether a retest will happen and at what level. But even after the snap back rally many stocks are cheap. We can start nibbling and slowly DCA back in. Thoughts?
Didn’t buy any stocks. Bought some UPROs and SOXLs last week. Sold half today. Hoping to buy back cheaper, just in case @Jil is right. Watching.
Put another way, we are creating a permanent underclass, the people who will always be dependent upon handouts and alms because they will never learn how to stand up on their own feet. Always need someone to look after them. They are a pretty large number and can make a good vote bank for politicians. The is also true for governments, businesses, and corporations who do not keep their own rainy day funds. Sadly, such individuals and institutions will get funded by money stolen from people and business who live within means, work hard and save.
There is no easy way to address this.
Think you need to go to Singapore. No free lunch.
Make it a loan that has to be repaid. People would be a lot more responsible with the money. Everyone has seen how people eat on an expense account vs their own dollar.
There is no political will.
Right, because that’d be unpopular with voters vs free stuff which is popular. There’s a reason that voting wasn’t a right. It was reserved for tax payers. People should study more history, because America was never intended to be a democracy where everyone gets a vote.
Agreed. We need to learn more US history and Government.
It’s truly maddening to explain how a bill becomes a law to people on Reddit. Yes it passed Senate but House of Reps to pass it and then President can sign. sigh
Sure? USA was formed as an isolation nation. Opening to the world started 70 years ago. So back to isolation?
America also used to have slaves. We all evolved.
Look at the portion of wealth held by the top 1%, top 5%, top 20%, however you want to cut it. The trend has been upward. Cry me a river but I don’t think the rich are doing poorly.
People abroad know more about the US than many of the citizens/residents here. I went through the US public education system. We don’t do a good job…
I believe in American exceptionalism (maybe I’m brainwashed) but let’s learn how we got to be so exceptional.
Because what happens in America has big influence on the rest of the world. My mom in Hong Kong knows more about US news than your average American citizen.
This is not a true statement. USA was discovered when someone sailed out in search of India. Then the voyages continued, and people started immigrating as they explored more areas. The pioneers traded goods with their parent countries. Early voyages were funded by royalties of Europe. Nothing exists in a vacuum.
I have no problem with someone owning all wealth of the earth so long as he/she does not touches mine. Slaves are still around. The form and the names have changed. Thats all.
I found it kind of educating when I saw videos of protesting students in Hong Kong signing US national anthem. Some people here do not have same respect for the USA.
Err that’s a bit too soon don’t you say?
There will be no more bear forever.