I’ve been in the business of covering the stock market for decades and I really can’t understand why the Dow Jones industrial average is where it is right now.
The Dow is soaring over the last few trading days — to 28,000 — while America burns and police are being shot.
I get the fact that new polls are showing President Trump is surging among people who have seen their homes and property taken over by Antifa in cities controlled by Democrats. I have said earlier that the election will be so one-sided on November 3 that mail-in ballots will not make a difference.
However, where is the business growth going to come from to justify these price levels in the market? Where is the market optimism found? How can a million Americans file for unemployment each week and yet the market looks the other way?
I agree that there is no other market — including gold and silver — where you will find any kind of return. I agree that the trillions in stimulus has to find a home that will be welcome it with healthy returns.
Amazon and Tesla are two examples of the “new” normal, but can we sustain an economy on them?
Don’t get me wrong, the market is one of the few bright spots in 2020. However, there seems to be an odd take on its rise during this pandemic.
How can the largest economy in the world along with the second, third and … shut down and still see growth in equities?
I know I have a lot of questions with little answers, but when you factor in trillions in government outlays that money needs to go somewhere.
Just remember this. At some point in the not too distant future there will be a day of reckoning. What that will look like is nothing I can predict because I didn’t see 2020 as being this perverted to begin with.