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Uh-Oh: Market Fails to Soar on More Bad News

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Any time the Dow isn’t up a least 400-500 points, you’ve got to wonder what’s troubling investors. The news environment was favorable, at least by Wall Street’s current, bizarro standard, since the pandemic appears to be raging out of control.  California has locked down tightly for the second time, and because of the state’s outsize impact on the U.S. economy, that too must be regarded as bullish news, since it means the Fed will be stimulating harder than ever to keep the illusory,  financialized part of the economy lookin’ good.  There was hope for working stiffs as well, since their $600 weekly unemployment bonus is about to run out at the end of the month. Their plight will give Democrats and Republicans a rare chance to come together, since buying votes with direct infusions of cash is about as bipartisan as legislation gets. It surely warms the heart to see that there are issues on which Pelosi and Mitch McConnell can agree.

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  • Ben July 15, 2020, 11:11 pm

    I don’t have any comment on the psycho “market” refusing to soar, but I do have something to say about the bad news you referred to…

    Time to nix the free covid testing. Slam a few masked rioters and maskless freedumb fighters with that kind of sticker shock, and I imagine more folks would wise up and just do the things they’re supposed to do, to avoid having to be tested to begin with.

    Also, by now, everyone should know how to avoid catching this. Exceptions aside — such as immuno-compromised cancer patients — this is largely a preventable illness. Therefore, you get this thing and require hospitalization, you pay for it. All of it. Why should insurers and/or the government be required to pay for your stupidity?

    But isn’t that mean?! (shrug) I neither know nor care if it is. Modern America is a culture of brat-dom. THAT’S the problem. And when brats are the problem, punishment must always be the solution. So, time to go very, very medieval. 🙂

    Of course, none of that will ever happen because, as you said, Rick… it’s an election year!

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