Category Archives: COVID-19
Two Trillion Dollar Stimulus Brings Back Bull, For Now
The Senate passed a two trillion dollar stimulus bill Wednesday night. And the Dow lurched forward 6.4% on Thursday. And that followed an 11% bump from the day before. But the 401k party was over by Friday and it was still down over 20% for the year.
Tokyo Olympics In Lockdown Until Summer 2021
The Tokyo Olympics are in lockdown due to the Corona Virus. Unlike the 2016 Zika Olympics in Rio, the 2020 games won’t go on this summer. Prime Minister Shinzo Abe and International Olympic Committee president Thomas Bach agreed to postpone the games until 2021. But, for some reason, the name, Olympic Games Tokyo 2020, won’t change.
Senate Stock Market Tycoons
White House and Senate agreed to a $2 trillion stimulus deal for the economy. And the economy likes it. The Dow shot up 11% for its best day since 1933.
Speaking of stocks and Senators, some senators dumped stocks just before Corona virus market meltdown.
Senate Stock Market Tycoons
Here’s Professor Jonathan Turley writing in The Hill:
Senators Richard Burr, Kelly Loeffler, James Inhofe, and Dianne Feinstein together are responsible for as much as $11 million in recent stock sales. It turns out that many lawmakers become market investment geniuses after they enter Congress. A University of Memphis study found that 75 percent of randomly selected members had made “stock transactions that directly coincided with legislative activity.” A Georgia State University study noted that, from 1993 to 1998, senators beat the stock market by 12 points with their portfolios and outperformed “corporate insiders” by 8 points.
Bernie Sanders is Wasted on the Young
Bernie Sanders is wasted on the young. Millennials like the old socialist but they don’t show up to vote for him.
According to Vox Bernie won 58% of the under 30 vote on Super Tuesday. But there weren’t enough of them. Forty-two percent of the 45 to 64 crowd went for Biden compared to twenty-five percent for Sanders. And in the over 65 set Biden beat Sanders 48% to 15%.
Millennials
Interestingly, people over 65 are also more likely to die from COVID-19 . So they tend to shelter in place. Maybe Bernie’s millennials skipped the polls for spring break.