What if I told you…
What if I told you a family (a mother and three children) went down to Pepsi center to get the coronavirus test, checked in but 3 hours later still didn’t have the test and said “F this, curiosity is neat but this is super dumb” and left without taking the test? Amazingly, the entire family got the lab results: positive for the coronavirus… yes, it was pointed out they never actually took the test.
What if I told you that under the first PPP, unemployment benefits were $600 extra a week and not only were people refusing to go back to work but we’re actively supporting the benefits to the economy of the lockdown? Now that benefits are running out and they are thinking about lowering the benefit to $100 a week, those people now very angry at the impact of the lockdown.
What if I told you financial services firms took loans from the PPP in spite of the fact their business is better now?
What if I told you the market cap of the world’s 6 largest companies is dramatically up, and the Nasdaq, already expensive by historical measures coming into the year is at all time highs, even with earnings uncertainty and with Biden as the probable winner, will see taxes increase significantly (the drag on S&P earnings is expected 12%)?
I wouldn’t want to believe it either.
#hottakeoftheday
Listening to you and Peter Schiff recently has me a bit spooked. I’ve shorted Tesla at $1,330 but nothing in the trading world makes sense to me any more.
I’ve been terrified since April. Its hard to remain a functioning adult knowing what lies beneath the water.
Two friends have each had the same experience in Texas that you relate regarding the family going for testing. Each went to a different testing location, filled out the paperwork and after a long wait left without being tested. They each received letters indicating the test they never took came back positive.
A friend that is a Texas police officer tested positive, experienced only minor symptoms and was quarantined until he gets two negative tests. His first test after fourteen days came back negative. The next two tests came back positive, although he no longer has any symptoms. He is frustrated that he now counts as three cases (three positive tests) in Texas and still has to undergo more tests to get two consecutive negatives.