Well, it’s official: the Nasdaq Composite Index has positioned itself well above 10,000. After briefly hitting an intraday record of 10,000 on Tuesday, the tech-heavy index climbed 0.5% to 10,006.49. The Dow Jones Industrial Average has reclaimed 27,000, while the S&P 500 is close to wiping out all its losses in the coronacrisis. Thanks, Federal […]
Archives for June 2020
The end of China? How the red dragon’s fire breath was extinguished
By: Andrew Moran The red dragon’s fire breath was already dying out before the Coronavirus pandemic had slain the beast. After more than 20 years of exponential growth, the paper tiger’s roar became a whimper thanks to the housing collapse, trade war, and public health crisis. The fragility of China’s economy is on full display as the […]
LOL: Health professionals change their minds on COVID-19
It turns out that the coronavirus is the wokest respiratory illness in history because it seems to avoid rioters and looters! In all seriousness, health officials are now changing their tune on what is acceptable and unacceptable in the post-COVID-19 world. You are still required to abide by stay-at-home orders, but you are permitted to […]
THANKS JEROME POWELL: Hertz stock spikes 1,000% in one week after declaring bankruptcy
Only in Jerome Powell’s Brave New World can a bankrupt stock soar 1,000 percent in just one week. That is exactly what happened to the century-old car rental company, Hertz. Hertz recently declared bankruptcy and saw its stock crater to 40 cents a share. Billionaire hedge fund investor Carl Icahn sold his entire stake in […]
SURPRISE: U.S. economy adds 2.509 million new jobs in May, unemployment rate dips to 13.3%
This is a real shocker. But hooray anyway! The U.S. economy added 2.509 million new jobs in May, beating market forecasts of eight million lost jobs. The unemployment rate dipped to 13.3 percent, down from 14.7 percent in April. The market had penciled in a reading of 19.8 percent. Many sectors of the economy recorded […]