If The Asteroid Ever Comes

"US stocks rise after GDP reinforces Powell's dovish stance," one headline read, on Thursday afternoon. That was probably as plausible a narrative as any other. The July Fed statement was hawkish on Wednesday, but Powell's caveat-laden press conference took the edge off. The ad nauseam reiteration of the "ways to go" talking point wasn't so much "dovish" as it was an effort to emphasize that his position hasn't changed. There's "some ground to cover." We're "some way away from having had subs

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3 thoughts on “If The Asteroid Ever Comes

  1. 200% on SPY after an Asteroid Strike? I think that’s several order of magnitudes low! Even so, it will take several hundred shares to buy a carrot, but that’s besides the point: investors who survive will be rich, I say rich!

    1. Almost certainly. The shortly thereafter expiring unemployment boost is likely the second. I suspect that until the Delta threat becomes undeniable there is little chance we pass legislation to support an actual recovery which is at best another 18 months of containment and vaccination likely with booster shots while we let the global supply chain recover if we acted decisively which is less than probable.

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