The Stock Market Is Crashing Again Because Coronovirus Is Making a Big Comeback

Comments

1

Yet another "I told you so" hair-on-fire market analysis over the latest ebb.

2

the protests, as valid as they are, will certainly push the numbers up as well...

4

The systematic dismantling of oversight and accountability by the Trump administration is one of the greatest scandals of our era.
NYRB currently has an article up on this by Walter Schaub-
https://www.nybooks.com/articles/2020/07/02/trump-corruption-ransacking-republic/
The corruption is on such a scale and across such a wide scope that it is a fair characterization to label this a criminal regime at this point.
I think your observation that we should not trust them to administer another stimulus program is spot-on.

5

Charles is right.

He did tell you.

By the way, it's 250,000 eventual US citizens dead, if we start to wise up. Right now the MidWest and South are not, and if they keep on that path, it will be even more. We can't even crank out 2 million vaccines by this fall for first providers, as the final test for the vaccine, for production reasons. And those are the ones that tend to not work as well as the tuned versions you'll get around March. Side effects, etc

Thank god you live in one of the 20 states doing it right.

6

Charles,

STOP. TRYING. TO. COVER. FINANCE.

Today the stock market tumbled, erasing less than 1 month of prior gains. I.e. If you bought the S&P 500 1 month ago, you're up 2.68% today. And you're still on track to gain more than 30% in a year.

THAT. IS. NOT. A. CRASH.

7

Well, it is pretty fucking obvious if you were paying attention. Sweden is one of the few economically advanced countries that decided to more or less ignore the pandemic. To be clear, they did take some action, such as banning large gatherings (over 50 people). But restaurants, bars and most businesses stayed open. They encouraged people to be socially distant (fairly easy in Sweden) but they didn't have a lock down. As a result, they have way more fatalities than their neighbors.

Meanwhile, their economy got hit really hard anyway. It isn't the governmental restrictions that have hurt the economy, it is the virus itself. The only countries that are recovering economically are those that have effectively squelched it. Things won't get better economically until the pandemic is over.

As for the stock market, it doesn't seem to care what is happening in the real world. As was said on the public radio show Marketplace about a month ago, The stock market is not the economy, the stock market is not the economy, ...

8

People really thought the pandemic was over because it wasn’t the top news story for a couple weeks. We’re like a nation of toddlers struggling with the concept of object permanence.

9

Wait I thought the market was simply overvalued, those stock buybacks etc etc? That the market is not fundamentally connected to “Main Street” or reality? Now it’s coronavirus panic? Which is it?

10

"What planet are these people on?"

Ours. and they usta be known as 'lemmings' but those Faithful all went they way of the Dodo (and most of the neanderthals) but you can't really blame the Kochs for that, far as I know though I do anyway.

"I'm as horrified by the racism as I'm by the total absence of any kind of behavior and practice that squares with the reality of an ongoing deadly pandemic."

Bizarre and the complete lack of Reality currently visited upon the Clueless is gonna keep the Economy down for fucking AGES.

See: New Zealand: 408 Deaths

This (and it's gonna get BAD before it gets Better) is what today's Republicanism looks like -- Major in-Competencies, just when we, the people need it Most -- ZERO Leadership -- coupled with a gift for vengeance and retribution, Bankruptcy and corruption and some peeps need FOUR MORE YEARS OF THIS?

They can all go (back?)
to their Very Own Planet
ASAP. Thank you! There's
a nice Ship leaving tomorrow!

11

@10 -- Apologies
New Zealand: 22 Deaths.

"What we can learn from New Zealand’s successful fight against COVID-19
The island nation knows COVID-19 will likely return—but it’s prepared.

On June 8, New Zealand announced that its last person known to be infected with COVID-19 has recovered. This means that, at least for now, the island nation has eliminated the disease.

The country has tallied 1,504 confirmed and probable infections and 22 deaths.

Several other countries with smaller populations have reportedly also quashed transmission of COVID-19, including Fiji and Montenegro.

A handful of other nations, including Iceland and Taiwan, have recently brought the number of active cases of COVID-19 to nearly zero.

New Zealand’s milestone offers a glimmer of hope for countries such as the United States, where in many communities the rate of new cases of COVID-19 is still rising. It indicates that a combination of social distancing, testing and contact-tracing, and clear communication can have a huge impact on reining in the virus.

While it’s far too late to prevent COVID-19 from gaining a foothold in the U.S., we can still learn from New Zealand’s coordinated and aggressive response.

'This is an extraordinary public health achievement,' Gavin Yamey, director of the Duke Center for Policy Impact in Global Health, told Popular Science in an email."

From Popular Science
by Kate Baggaley
June 10, 2020

https://www.popsci.com/story/health/new-zealand-coronavirus-eliminated/

12

TRUMPVID-19 is indeed, a global killer. Now if it could just wipe out the MAGA loons that ecstatically voted for the current illegal occupant of the White Trash House.

@10 & @11 kristofarian: Along with New Zealand and Australia, Iceland is also leading the world in flattening the curve. Iceland, with its inbred population of some 350,000 citizens--a country half the size of Seattle. And their political leaders backed off and let the doctors and scientists take over on what to do.
(Source : June 8 & 15, 2020 issue, The New Yorker Magazine, Elizabeth Kolbert, Letter from Reykjavik: Independent People, pages 25-30. )