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An L-Shaped Recovery in Our Future?

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Let’s see if The Bull Market That Wouldn’t Die can shrug this one off. Trump postponed stimulus talks until at least after the election, causing a 600-point reversal in the Dow Industrials. With no stimulus in sight, all of those would-be dollars from the sky won’t get spent by holiday shoppers.  They are usually unstoppable themselves, although 2020 has seemed likely to produce, from the standpoint of retailers, a k-shaped Christmas. That’s when pandemic-proof upper-middle-class shoppers go all-in on Patek Philippe wristwatches and goose-down comforters while most Americans have to settle for Kohl’s gift cards. If stocks plunge in October, that could flatten the shopping curve somewhat, ringing in the New Year with an L-shaped recovery. _______ UPDATE (Oct 7, 11:41 p.m.): I am on the road until late Thursday but will be monitoring chat room discussion as time permits.

Please do not ask trading questions!

  • Ben October 7, 2020, 12:37 am

    Meh. He just likes to see the markets react to what he says. But he’ll “mull his decision” as soon as the Hag Queen of Mummies gets something on his desk. And she will, since they want to shine up Biden as much as they can, by election day. Or just to make Trump look bad.

    Nancy: We sent him a stimulus bill but he won’t even look at it until after he steals the election! Voters must elect Biden to get their stimulus! Okay? You have to elect him to find out what’s in it!

    Trump will sit on it, democRats will cry foul, and, after he wins, he’ll do to the bill what Pelosi did to his speech.

    Trump: (rip) Merry Christmas and Happy New Year. I’m the best Santa, ever!

    Dems: https://thumbs.dreamstime.com/z/angry-volcano-cartoon-vector-illustration-49199676.jpg

    Trumpers: http://www.clipartoday.com/_thumbs/034/W/Worship_tnb.png

    If it all sounds like good entertainment that doesn’t solve any real problems, you’re right. That’s why I think it will happen. Because 2020. Yep. Definitely an L-shaped recovery!

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