Overall, the market doesn’t seem to care who wins. When Biden is ahead they say he is causing the market to rise. When Trump is doing well they say he has caused it. The market has been good for those in the right industries. It is very narrow focus, often dictated by Covid news. Stocks like Amazon, Walmart, McDonalds, Apple, Microsoft lead the way. These are companies that actually benefit from Covid. However, the vast majority have lost earnings and sales due to Covid. The market likes clarity, and of course that never comes, so we have to go with perceived clarity based on 24-hour panic porn from the news media.
The market will continue to climb the wall of worry until someone convinces investors that they aren’t going to all die next year. Watch for news on the vaccine to provide near term stimulus. Pfizer Corp. has announced that it plans to file for emergency use of the vaccine the third week in November. The other vaccine candidates are not far behind.
There wasn’t a health “expert” in the world that said the vaccine could be done that fast. And while I am not counting chickens yet, there is no doubt we will have a vaccine within the next few months.
There is never good news reported from Dr. Fauci, (who I do a decent impersonation of.) He said it would be at least 18-24 months until we get a vaccine. He also first said not to wear masks, mainly due to people fiddling with them. Then he concluded that we should wear masks. Governor Newsom in California wants us to take them off at restaurants only when you are taking a bite. I wish it were a joke.
The Washington Post ran an article in 1987 (when they were still a real newspaper) talking about how Fauci had been at the forefront of shutting down “French kissing” to help to prevent AIDS.
In the absence of any proof one way or the other, Fauci said, “health officials have to presume that it is possible to transmit the virus by exchange of saliva in deep kissing. That presumption is made to be extra safe.”
This was later proven false. So, 34 years ago, Fauci was already a professional killjoy.
Further, he wants to wipe out hand shaking permanently. ‘I don’t think we should ever shake hands ever again, to be honest with you.’
Dr. Robert Redfield the head of the CDC has been as ridiculous as Fauci. Redfield famously waved a mask around saying it was better than a vaccine:
“I might even go so far as to say that this face mask is more guaranteed to protect me against COVID than when I take a COVID vaccine, because it may be 70%. And if I don’t get an immune response, the vaccine is not going to protect me,” Redfield said. “This face mask will.”
When he found that 85% of cases have been wearing masks religiously, he said, “we never said masks would protect you, it will keep others from getting it.” This was right after he said, “this face mask is more guaranteed to protect ME than the vaccine.” He also said if we wear masks for 8-12 weeks we would be over Covid. Does he not get out of the house? Is this the “science” some politicians will follow including mass lockdowns? The cure is way worse than the disease.
Look up “wrong” in the dictionary and there may pictures of both Fauci and Redfield.
No country in the world has ever quarantined themselves out of an epidemic. We are no exception. Politicians that say they will follow science won’t help. Scientists, regardless of the obvious, think they can stop this with social distancing, masks, contact tracing, etc. My question is: “How is that working so far?” The fact is that we have a ton of “new cases” but deaths continue to march downward. Remember, the majority of “new cases” never get sick.
We will get out of this only when enough people are immune naturally or from vaccines. As cases continue we get closer as a country to herd immunity.
This disease hits a very small subset of our population. Protect that subset and let us get on with life!
We don’t all want to be bubble boy!
See you soon,
Craig