SonomaPatientsCoop
02-27-2020, 09:23 PM
This week the stock market officially entered a "correction" - down more than 10% from recent highs.
Now... I'll admit- this was because of the coronavirus, and not the "irrational exuberance", the inverted yield curve, Brexit, and the other signs the nation was headed a recession.
But let's look at this. The market is likely to drop more. Disruption in supply chains means looming layoffs. Delays in many goods means slower consumer spending. This is likely to feed into the recession most saw coming within the next year.
Good odds at this point the summer Olympics will be cancelled- further spooking consumers and markets.
Several of our Democratic candidates plans rely on massive new taxation- especially on the wealthy. I never really saw this passing congress- but if the wealthy loose 20, 30...50% in the markets... no way in hell this will pass.
I had fully expected the US and the world economies to head into a recession sometime before the election, which I thought would play a major role- not in the primaries but in the election. Now... all bets are off. While this will likely have a minimal effect on "Super Tuesday",,, it will likely have an increasing roll in the later primaries- and most assuredly if we go to a brokered convention.
And this looks like it will play a substantial roll in the election- and more importantly- in at least the first year or two of the next presidency.
Time to think people....
Now... I'll admit- this was because of the coronavirus, and not the "irrational exuberance", the inverted yield curve, Brexit, and the other signs the nation was headed a recession.
But let's look at this. The market is likely to drop more. Disruption in supply chains means looming layoffs. Delays in many goods means slower consumer spending. This is likely to feed into the recession most saw coming within the next year.
Good odds at this point the summer Olympics will be cancelled- further spooking consumers and markets.
Several of our Democratic candidates plans rely on massive new taxation- especially on the wealthy. I never really saw this passing congress- but if the wealthy loose 20, 30...50% in the markets... no way in hell this will pass.
I had fully expected the US and the world economies to head into a recession sometime before the election, which I thought would play a major role- not in the primaries but in the election. Now... all bets are off. While this will likely have a minimal effect on "Super Tuesday",,, it will likely have an increasing roll in the later primaries- and most assuredly if we go to a brokered convention.
And this looks like it will play a substantial roll in the election- and more importantly- in at least the first year or two of the next presidency.
Time to think people....