Sunday , September 27 2020
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Second Fed President Calls For More Free Money

Summary:
Realist2 hrsItem one: Congress giving away more money to everyone. Interesting how they are willing to give 00 away without conditions to so many who don’t actually need it. (Not to mention billions to corporations, political organizations, etc). But they want to put conditions and restrictions on giving 0 to the unemployed who actually do need it. I also find it fascinating that politicians who earn 4,000 - 3,500 each year find it offensive that some poor unemployed person receiving 0 might be making more than they did when they were working. Item 2: A severe 6-week lockdown in Australia because they had more than 600 cases in a single day. You seem to be wondering why the draconian measures for such small numbers? I suspect that it’s a case of the government trying to

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Realist

Item one: Congress giving away more money to everyone.

Interesting how they are willing to give $1200 away without conditions to so many who don’t actually need it. (Not to mention billions to corporations, political organizations, etc). But they want to put conditions and restrictions on giving $600 to the unemployed who actually do need it.

I also find it fascinating that politicians who earn $174,000 - $223,500 each year find it offensive that some poor unemployed person receiving $600 might be making more than they did when they were working.

Item 2: A severe 6-week lockdown in Australia because they had more than 600 cases in a single day. You seem to be wondering why the draconian measures for such small numbers?

I suspect that it’s a case of the government trying to impress how serious this is on its citizens. By overplaying it, the hope is that people will follow the rules, crush the curve, and then they can lift the restrictions much sooner than 6 weeks.

As in all countries that are re-opening, there will inevitably be some surges in new cases. The goal is to identify the surges and crush them to prevent the pandemic from getting out-of-control.

On the other extreme, you have the US, which is attempting to re-open everything while the pandemic is still raging out-of-control in many states.

The way the US is going, there will be well over 200,000 deaths and hundreds of thousands with long term health problems. And the economy will still be crappy, because so many people will be afraid to go out.

Yesterday numbers from Worldometer

Cases:Deaths

Australia 641:7

Canada 285:4

Italy 238:8

US 49,038:467

I laugh everytime I hear Trump crow about how well the US is doing compared to other countries. I guess he believes that if you keep repeating the same lie over and over, that eventually people will think it is true.

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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