Category Archives: stock market
Fire Feeding Feds
The Feds are still feeding the Inflation fire. They might taper off on their bond buying spree but still plan to keep interest rates near zero.
Meanwhile Republicans want to blame Democrats for raising the debt ceiling to make room for more fuel.
Wall Street seems to have overcome its China angst, for now. It’s back on a shopping spree too.
Wall Street out on a Ledge over China
Wall Street took a deep dive yesterday on news from China. Investors are afraid China’s biggest property developer, Evergrande Group, won’t be able to make payments on its debt. If that happens the company could collapse like Lehman Brothers in 2008 and take the economy down with it.
To make matters worse the Wall Street Journal (paywall) reports that Communist Party leader Xi Jinping isn’t a capitalist! He thinks private capital is running “amok.” And he wants to force China back to “the vision of Mao Zedong, who saw capitalism as a transitory phase on the road to socialism.” He even showed up in a Mao suit.
Maybe my guy on the ledge is afraid he’s on the road to serfdom.
Biden Goes Big with Itty Bitty Mandate
President Biden goes big with Franklin Roosevelt style spending. Democrats Ed Markey and Jerry Nadler even have a Supreme Court packing scheme. But what did FDR have that Joe Biden doesn’t have? A Depression. A world war. And a gigantic mandate.
The Virus is Soaring and Stocks are Plunging
The virus is soaring and stocks are plunging. And Dr. Fauci says we’re still in the first wave, with no stimulus in sight.
Hydroxychloroquine, Moderna Vaccine and Trump
Hydroxychloroquine is President Trump’s drug of choice at the moment. It’s an anti-malarial drug that some think has an off-label use against Covid-19. On Monday Trump announced that he personally takes the drug. He told the press, “I was just waiting to see your eyes light up when I said this.”
There are risks, its effectiveness against Covid-19 is unproven but he’s taking the drug under the supervision of his physician.
It’s not like he’s mainlining Lysol. Still, the expected media freak-out ensued.
Pelosi offers second opinion on Trump Hydroxychloroquine Therapy
The Speaker of the House recommended against the therapy and diagnosed Trump as morbidly obese. The president countered that she’s a sick woman with a lot of mental problems.
Earlier Monday, Moderna announced that phase one testing of its Covid-19 vaccine showed positive results. So positive that the Dow shot up 900 points. But then Trump stepped the good news.
