After recovering a chunk of the losses racked up during the worst of the coronavirus-induced selloff last month, the stock market finds itself at a crucial inflection point, writes Alan B. Lancz.
“The next 45 days may just become the most critical period in U.S. financial history,” he wrote in a newsletter published Wednesday. “While on average we may face a bear market every 10 years, this one is like no other,” he said.
The contrarian money manager, who is a disciple of famed investor Sir John Templeton, said that the timing and execution of the reawakening of the U.S. economy from its dormancy could be one of the biggest factors in determining how the market recovers from COVID-19, which has forced swaths of businesses to shut down to help stem the spread of the deadly contagion that has infected more than 2 million people and claimed 137,000 lives, according to data aggregated by Johns Hopkins University as of Wednesday evening.
Read more ....
WNU Editor: We are in uncharted territory right now, and no one knows what will happen next. Here is just one example on how upside-down the markets and prices for commodities right now. Last night the price for a Canadian barrel of western crude hit -$0.01/barrel (see tweet below).
Western Canadian Select oil is now trading at negative prices.👇— Jason Kenney (@jkenney) April 20, 2020
Killing & delaying pipelines landlocked us.#Covid19 collapsed demand.
The Russian-Saudi price war surged supply, filling up inventories.
The future of hundreds of thousands of Canadian jobs is at stake. pic.twitter.com/n2pGHsh30E
Update: More here on the crash of Canadian oil prices .... Historic Oil Crash Sends Canadian Oil Prices Negative (Zero Hedge).
6 comments:
This is not a crisis; this is a war.
Granted based on 1st estimates some people could be said to have supported on their professional data.
For the last 2 weeks and increasing every day, the lockdowns are a from of warfare in order to gain power. Regard this our "Social War".
I don't doubt that certain types would enforce lockdowns to see how far they could push it and how much they could centralize power. With themselves o top of the heap of course.
But a lot of this is due to people's animus to Trump and their frustration at not having the presidency.
Government Sanctioned Suicide: Study Finds Coming Economic Crisis Could Lead to 831,600 Suicides – Or 13 Times the Number of Coronavirus Deaths
Lockdown does not prevent some corona deaths and increase deaths by other causes.
Some of these 831,000 suicides would happen anyway. Also, these are estimates or models.
However, we do know with an economic downturn suicides will go up. How much is up for debate. OR better yet a certain range of increase is up for debate.
I would like to point out that Netherlands does not have a lockdown and its corona rates are somewhat lower than Britain's rate. It is a very densely populated country.
Consider these deaths by one cause or another cause by different policies like an engineering trade off or trade space. Different policies will have different number of deaths and different economic consequences.
IMO end the lockdown. Make it articulated. Maybe just lockdown NYC and certain population groups. That is be respectful of your elders and the sick and do not go near them, if you have symptoms.
The Economics of Suicide: An Empirical Study of America’s Rising Suicide Rate
https://digitalcommons.bryant.edu/cgi/viewcontent.cgi?referer=https://search.yahoo.com/&httpsredir=1&article=1019&context=honors_economics
If you are a politician that wants to shutdown the economy for politician gain there is blood on your hands.
HAHAHAHA eat s$%t Canada... sincerely yours.
Comrade Xi.
For the posters here, I do not see a conspiracy whereby the left is causing us to stay at home - I am sure they like to take advantage of it but they are not causing us to stay in our homes because they lost the election. To think so is foolish.
Second, I suspect the next few years will be positive for the US; We like what we like and we will not be denied. We will have our games, bars and entertainment, it will just take some time. Also, China is going to loose big time and loose face and many billions of dollars, however that is easier said than done so I see a modest pull back in the balance of trade between China and US.
As far as this oil glut - wow. No one saw that coming. This pandemic is really hurting some economies so the Mid East, Russia and I guess Canada are gong to loose out. Not much you can do, but hell - 20 years ago we were supposed to run out of oil now there is too much!?!? What does that tell you about the state of the Media and experts who talk too much.
Be safe and invest long term.
No one or very, very few people are actually getting together and conspiring.
There are like Lois Lerner. Obama appointed her,. He did not tell her what to do. So there was no conspiracy. He just knew she would do what both he and she wanted.
It reminds me of a extrajudicial killing north of Kansas City, Missouri awhile back. Maybe 2 or 3 people actually conspired. 1/2 dozen or dozen other just went along with it as it transpired. They approved. No one saw nothing. Hog thief died.
Post a Comment