do not let the fucking talking heads idiots fool you. this time it is really different
The stock market finished nearly 2% higher on Friday, despite one of the worst monthly jobs reports in history, as investors continued to look toward a reopening of the economy and bet that the worst of the economic impact from coronavirus has passed. The Dow Jones Industrial Average rose 1.9%, 450 points, on Friday, while the S&P 500 was up 1.7% and the Nasdaq 1.6%. Those gains came even amid a historically bad jobs report from the Labor Department, the worst since the 1929 Great Depression. Some 20.5 million jobs have been eliminated in April—that’s nearly every job created over the past decade, gone in a single month. The unemployment rate shot up to 14.7% as the economy ground to a halt due to coronavirus shutdowns. But neither figures were as bad as expected on Wall Street, however: Economists polled by Dow Jones expected 21.5 million jobs lost and an unemployment rate of 16%. “Today’s report tells us the labor market isn’t as dire as the headlines suggest, which is why equity prices and bond yields are getting a lift,” says Charlie Ripley, senior investment strategist for Allianz Investment Management. “In one month, we nearly wiped out all of the jobs created the previous 10 years, which puts in perspective just how devastating this pandemic has been,” according to Ryan Detrick, senior market strategist for LPL Financial. “Here’s the catch. As our country starts to open back up, many of those jobs will come back, potentially quickly.” “Perhaps the ‘best’ news in the report was that of the 23 million workers who were unemployed in April, about 18 million thought that this was short-term (presumably expecting to be brought back to work within six months),” says Nationwide Chief Economist David Berson. Stocks have rallied aggressively off their March lows as Wall Street becomes increasingly optimistic about a reopening of the economy. Despite dismal economic data and first quarter corporate earnings reports, stocks have looked beyond the near-term turmoil caused by coronavirus. The market has moved higher in recent weeks as several states—including Georgia, Florida, Texas and California—begin to reopen businesses and lift coronavirus lockdowns. The S&P 500 has bounced back more than 30% from its low in late March, now just 15% off a record high. The Nasdaq NDAQ is more than 35% off its lows and on Thursday moved into positive territory for the year.
Nick Note: Think for yourself and grow rich. The stupid money never see the recovery. And this is NOT the great depression. In the 1929 crash and subsequent depression the central bank tightened. lessons learned since then and especially in the Great recession of 2008 taught that you must save the system and flood the economy with money. And they have done this in the present crises like never seen before. in the great depressions bossiness were permanently closed unable to recapitalize. The worker bees had no social safety net. NOW with the system flooded with cash serious business will easily recapitalize. And The Mel types at the dinner who though financing was done with his master card at 18% was broke before this happened. JOBS HAVE NOT NOT NOT BEEN LOST BUT TEMPORARILY SUSPENDED. This time their is an extensive unemployment insurance system. And happy checks for all. This time rents, mortgages, car payments and credit cars debt payments has been suspended. And they have learned mass quarantines are not the answer.
BOTTOM LINE: 1 MILLION DEAD 2 MILLION DEAD IS ACCEPTABLE COLLATERAL DAMAGE THEY WILL:
LET MY PEOPLE GO… TO SHOP!
GENTLEMAN WILL START THEIR ENGINES.
PLAY BALL. TAKE ME OUT TO THE BALL GAME GIVE ME WIPES AND MASKS I DON’T CARE IF THE CORONAVIRUS COMES BACK.
COME FLY WITH ME ON THE BLEACHED ALUMINUM TUBES
ALL THIS WILL BE REGARDED AS A SOLUTION.
YOU WILL SEE THE FASTEST ECONOMIC RECOVERY IN HISTORY