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Earnings season headlines promote a feeling of “everything’s OK” … but a darker message lies just beneath the surface.

Relishing Relief: Fastenal Your Seatbelts

by Joseph Hargett April 14, 2020 Great Stuff

How Do You Spell Relief? And they’re off! The first (annual?) U.S. quarantined corporate earnings season kicked off this morning, and investors loved the red-hot rally action. It was 2% to 3% gains across the board as the market opened. Wall Street finally has concrete data on how the pandemic has affected American businesses. JPMorgan […]

The pandemic’s worst may be over, but this is just the tip of the pandemic iceberg where the U.S. economy is concerned.

Titanic Earnings; Choppy Sailing; Cinemas Failing

by Joseph Hargett April 13, 2020 Great Stuff

A Titanic Earnings Season The markets rallied sharply last week in anticipation that things are starting to get better. And, admittedly they are … where the pandemic is concerned. According to the Centers for Disease Control and Prevention (CDC), the outbreak is finally stabilizing across the U.S. Dr. Anthony Fauci, director of the National Institute […]

This Bailout is for Wall Street … Not Main Street

by Angela Jirau April 13, 2020 2020 Financial Crisis, Big Picture. Big Profits., U.S. Economy

[17-minute video] The stimulus coming from the Fed and Washington D.C. is like water: It takes the easiest path it can find. Thanks to 40 years of pro-Wall Street policies, the only parts of the emergency stimulus having an impact are those aimed at the financial sector. That’s setting us up for a repeat of the post-2008 scenario … On steroids.

I want to believe the market rally means a new bull market, and that rainbows and monkeys will fly out of my … well, you get the picture.

Market FOMO Rising; Disney Plus Ultra

by Joseph Hargett April 9, 2020 Great Stuff

Mr. FOMO Risin’ If you ever needed clear proof that the stock market does not represent the U.S. economy, today provided it. The U.S. Department of Labor announced that 6.6 million Americans filed for first-time unemployment benefits last week. The latest data bring the total of new claims to more than 16 million for the […]

Former Fed Chair Bernanke predicted that U.S. gross domestic product would fall 30%. Tell me again how we’re not comparing this to the Great Depression?

Manic Markets, Sailing Saudis and Muddy Waters

by Joseph Hargett April 8, 2020 Great Stuff

The Volatility Experience Manic depression is searching my soul. I know what I want, but I just don’t know. — Jimi Hendrix, “Manic Depression.” Did you see yesterday’s reversal? The market was up more than 3% across the board and then … pow! Total market reversal. Someone must’ve crossed the streams. Rather than panic about […]