Winners and Losers…
As of 6/28/2020 – Covid-19 deaths have now surpassed 125,000, along with trading dates for the year – 123 as of Friday. We’ll keep you posted. See discussion below. The biggest loser this week: President Donald Trump. Polls now indicate that former Vice-President Joe Biden is winning hearts and votes in battle ground states. The blood-on-their-hands Republican loser’s club is joined by Governor Ron DeSantis of Florida and Texas Governor Greg Abbott for refusing to mandate masks in public with cases and deaths in their states reaching tragic heights. Nine Texas mayors are asking Abbott to rethink his policies, while mayors of numerous Florida cities – including Miami- are mandating masks.
As of 6/21/202 – I’ve been updating you on the (strange/coincidental or…) link between Covid-19 deaths and the US stock market. On May 16, Covid-19 deaths reached 100,000 at precisely 100 trading dates for the year. This past week, deaths surpassed 117,000 at 117 trading days and at 119 trading days (a Friday), with Saturday, June 20 approaching, over 119,000 deaths were reported. [Update for 6/22: On the 120th trading date, deaths surpassed 120,000 and the market continued to spiral upwards.] I can’t imagine how this could be…but it is. The Federal Reserve has been purchasing every possible asset class aside from stocks – spending over $5 trillion to-date – and signaled this week that stock purchases are on the table. Which means: Covid-19 and the Fed response could be creating the greatest stock market bubble in history, while disproportionately killing the elderly, unhealthy and people of color. And yet…thanks to nearly three weeks of multiracial Black Lives Matter Protests, we – the people – might just come through this stronger than every. I’m fairly certain that current winners/drivers are not counting on that outcome.
As of 6/14/2020 – The U.S. has surpassed 2 million cases of Covid-19 and nearly 115,000 deaths. Street protests continue as do the senseless killings of unarmed black men by the police. What part of “Thou Shalt Not Kill” do such officers of the law fail to understand? The vast majority of police officers are brave men and women who keep us safe. But as Martin Luther King warned: “The time is always right to do what is right.”
As of 6/7/2020 – With U.S. Covid-19 deaths surpassing 110,000 and Black Lives Matter protests moving into their 10th day, the U.S. stock market continued to surge. American billionaires have now increased their wealth by nearly $600 billion since the February-March 2020 stock market crash that bottomed on 3/23/20. Coincidences?
As of 5/31/2020 – With Covid-19 deaths nearing 100,000 on May 16, 2020, the U.S. stock market also marked 100 trading days for the year. Obfuscating the deadly Covid-19 numbers – including at least 1,778,515 coronavirus cases – the market rallied to yet another post-March-crash high. Surpassing 100,000 cases on May 29, the market continued to rally. As of today, we have sustained 104,000 losses with the market enters it’s 104th trading day tomorrow (June 1) – a fascinating coincidence? With over 40 million unemployed, billionaires reportedly increased their wealth by over five hundred billion dollars since the Covid-19 crisis began. Given over 4 trillion pumped into the economy by Congress & the Federal Reserve, the mega rich are having a very good crisis indeed. Meanwhile, the pandemic will reportedly leave over 54 million Americans without access to and/or ability to purchase sufficient food. With Black Lives Matter protests ripping through the nation over the murder-by-police of George Floyd, financial gurus will likely try to extend the rally by declaring that tomorrow is at least better than yesterday.
As of 5/3/2020 – 1143,433 US cases, 66,760 deaths. New York Governor Andrew Cuomo is now the de facto president of a coalition seven northeaster states. Governor Gavin Newsom is the virtual president of California. Ohio & Maryland Republican governors rank far higher than Trump. Red states with Democratic governors rate their governors higher than Trump. Governors are trumping Trump. (#TrumpWho) With 30 million US citizens applying for unemployment benefits, the Guardian and others report that Trump is funneling stimulus funds to his close cronies.
As of 4/12/2020 – over 530,000 cases, 20,000 deaths. Recoveries appear to be unavailable at this time on the CDC website. For the first time in US history, all 50 states are under a federal disaster declaration. Here’s what we know. TRUMP IGNORED critical internal government warnings about this infectious disease, losing a precious three week period to prepare – thus tragically resulting in thousands of deaths. Even a 3-day delay in that time period – let alone weeks – accelerated the number of cases and deaths. See https://www.cnn.com/2020/04/11/politics/new-york-times-coronavirus-trump-administration/ Trump’s actions resulted in the deaths of his supporters and non-supporters. But naturally, Fox News hosts – with the exception of Tucker Carlson – will not tell you so.
Winners: China, which is manufacturing and selling critical PPE equipment to the US and worldwide. Losers: The world, but especially the US, which now has the highest number of cases and deaths per country on the planet.
As of 3/22/2020 – with 26,668 US cases, 340 deaths and 176 recovered. Now we know. The Chinese government unleashed this virus on the world by withholding vital information for several crucial weeks that could have helped the world prepare – in particular the United States and hardest hit Italy. China refused initial State Department requests to send medical professionals to assess and assist. Senior US intelligence advisors warned President Trump of the looming pandemic in January, but aside from barring all visitors from China, Trump insisted in a televised briefing that a “miracle” might resolve the problem.
In spite of dire requests by the governors of New York, California and Washington State over the past week for immediate activation of the Department of Defense Logistics Agency & the Corps of Engineers – to manage delivery of Personal Protection Equipment for medical staff and to build satellite hospital facilities – President Trump refused to do so as of March 22, 2020. Two Republican senators unloaded millions of dollars in stocks – allegedly all or most of their holdings – following secret intelligence agency briefings, while failing to inform the public of the looming emergency. The husband of one is the chairman of the New York Stock Exchange. The husband of a Senate democrat sold large quantities of stock in a single biotech company, while the Senator’s personal holdings remained in a blind trust and were not sold.
Acting like a President: New York Governor Andrew Cuomo, whose daily televised press conferences sustained, educated and calmed the nation – for at least 15 minutes when followed by a Trump briefing to the nation.
Winners: Pharmaceutical companies large and small working on life-saving virus drugs and vaccines. (No blame here. Let’s pray they succeed.)
Winners: Short-Sellers. The market had its worst drop in history, along with countless down days resulting in multiple periods of suspended trading.
Winners: Bad actors worldwide who have now learned how to bring down the US and global economies – in fact, to hold US and European nations hostage, but strangely not China, which is now reporting no additional deaths from the virus, with citizens returning to work/life/restaurants/cafes (albeit many wearing masks, which of course US citizens, let alone health care workers, still do not have).
Winners: The wealthy will not only get by, but they (and others sitting on cash) will buy stock at new lows – leading to many more millionaires and billionaires.
Losers: Just about every poor, lower income and middle class American, along with their children.
As of 3/8/2020, with 14 deaths in the US, media outlets and countless officials are declaring a pandemic.
Big Pharma: Target of the Bernie Sanders and Elizabeth Warren campaigns, villains in the opioid crisis…but now? How quickly will we forget? Big Pharma stocks are surging.
Chinese stock market (Pay Attention!): “While U.S. investors are grappling with a violent sell-off as the coronavirus spreads, their Chinese counterparts at the heart of the outbreak are back to making decent money again…China investors have already gone through the panic stage that their U.S. counterparts are experiencing now…” – Bloomberg.com
Security stocks are surging.
Price gougers and sanitizer companies are surging.
The Media: Headline of the Day. “Deaths from coronavirus in Spain rise from 10 to 13” – TheGuardian.com
Freedom: Population control advocates: Italy bars over 10 million people, a quarter of their northern based population – from leaving their area. As of early reports, Italians are more panicked over enforced control of movement than the virus.
Fear Mongers: Political chaos, hatred, division. You know the script.
People who ride public transit and dare to fly. Buses, trains, airports and planes are being fully sanitized, perhaps for the first time in public memory? As in EVER? Why did it take them so long? Remember when we wrote about rusty shopping carts – and about an “organic” chain that didn’t seem to care? Rust can also be life-threatening. Or how about people who put children and “support” dogs in their carts? How about filthy check out counters?
Decimated Stock Markets: Millions – if not tens of millions – in the US watch retirement and non-retirement accounts drop like a rock.
Healthy part-time workers and freelancers prevented from doing their jobs – who may never recover lost incomes. [Updated on 3/22 – Given trillion dollar+ stimulus, part-time workers and freelancers may be covered for all of their lost income through April 30. More to come.]
Healthy full time workers prevented from doing their jobs – who might (or might not) recover lost opportunities and income.
The French retain a sense of humor. “It’s International Women’s Day and participants in events on the streets largely don’t seem to be letting coronavirus get in the way….Many held placards comparing the virus to gender inequality, with slogans reading “stop the patriarchal virus” and “stop the patriarchal pandemic”, whilst dressed in outfits which resemble hazmat suits.” – TheGuardian.com
To be continued…