Wednesday , April 14 2021
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Expect a Surge in Spending as Personal Income Jumps on Covid Stimulus Free Money

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Realist11 hrsI posted this reply to Casual, up above but decided to place it here as well, as it seems to fit in with the discussion. I appreciate the chance to discuss various topics here as well. Regarding different topics, such as economics, hard science, medicine etc, everyone here has a different level of expertise. Some know a lot. Some know very little. Some think they know everything, which means that you will never be able to teach them anything. Those are the cultists and conspiracy believers. I come here to learn and to inform. I have some expertise in some areas where I believe I can make a contribution. I believe that Mish knows more economics than I do. He likes the micro, bottoms up stuff, and spends a lot of time on it. I appreciate that as I simply don’t have the time.

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Realist

I posted this reply to Casual, up above but decided to place it here as well, as it seems to fit in with the discussion.

I appreciate the chance to discuss various topics here as well. Regarding different topics, such as economics, hard science, medicine etc, everyone here has a different level of expertise. Some know a lot. Some know very little. Some think they know everything, which means that you will never be able to teach them anything. Those are the cultists and conspiracy believers.

I come here to learn and to inform. I have some expertise in some areas where I believe I can make a contribution. I believe that Mish knows more economics than I do. He likes the micro, bottoms up stuff, and spends a lot of time on it. I appreciate that as I simply don’t have the time. Also, my economic focus is macro. Mish helps to fill in the rest.

Regarding medicine and the pandemic, I think Mish has done a decent job covering it. His criticism of Fauci yesterday, is an area where I spoke up. Mish “is fed up with Fauci.” I suspect that’s because Mish, like everyone, would like the pandemic to end, so the economy can get going again. Well, we all want the pandemic to end.

Fauci is merely doing his job. He looks at the data, and makes recommendations. He has data that shows the vaccines reduce or eliminate hospitalizations and deaths, but he has no data yet that proves the vaccines prevent transmission of the virus. As such, he recommends caution for a bit longer, until more people get vaccinated.

I do not fault him for that. Apparently, Mish does.

Dr. Fauci is not an economist. He is not opining on the economy. He knows the economy is suffering. But the economy is not his job. His job is trying to slow or stop the pandemic.

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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