1.2 million deaths worldwide sounds like a big number and on its own you can use it to club “Covidiots” into silence, that is, until you actually look at it...
The K-shaped recovery has helped the fortunate remain relatively insulated from the pandemic but the financial bubble is set to burst. And none of this even hinges on the complacent pricing around the U.S. election risks.
"... a Biden win means higher taxes and more regulation. That’s bad for the market... we got a small taste Monday of the downside that’s coming in the US stock market."
The Labor Differential improved to 6.6 (jobs are easier to get) - its highest since March - but plans to buy cars and major appliances slumped (homes rose modestly) as expectations for income gains in the next 12 months dropped.
...if we treat pollsters the way we do central banks, we will simply increase their budgets so they can tell us --inaccurately-- what more people are thinking about more aspects of their lives...
In an economy that is $75 Trillion in debt, requires $5.50 of debt per $1 of growth, and running a $3 Trillion deficit, rates can’t rise much... Which is also why the Federal Reserve is now forever trapped at zero.
CAT "is typically seen as a bellwether for the economy, so analysts looking for hints as to how the recovery from the pandemic is progressing were likely disappointed."
