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Given all the problems caused by the global Covid-19 pandemic, we now contemplate your investment portfolio in light of the markets’ plunge over the last two weeks – in short, we’ll now expand our horizons from the morbid to the macabre.
On the stocks I have, the cost basis is low enough that I can view it all with some detachment.
OTOH, I’m debating whether this is a good time to catch a falling knife with a tolerably sizeable amount of cash. In a world of low dividends, companies based on internet marketing (and surveillance), increasingly low margins on manufactured goods, high degrees of .gov intervention, it all feels so artificial. More slot machine-ish than in the past.
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If the Chinese had dropped a nuke on Seattle or Portland, we would have retaliated in an hour or less. But they dropped a nuke on our stock market, and we haven’t yet done anything to them. We didn’t even ask the UN or WTO to wag their finger at the Chinese and tell them “bad, bad”.
All this because the Chinese have not altered their ill-advised eating/dietary manners since the last near pandemic of SARS. So they get to enjoy their wet markets, and we suffer ours – ours are wet because the Chinese have pissed on them. Our reliance on China developed over the last 30 years because they provide us with cheap stuff. Maybe we (politicians, regular people) will now see what the true cost of doing business with China has been.
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Est.Fox@4:31AM
You’d think this would be something of a wake-up call against globalism, firewalls and self sufficiency are not such a bad thing, but I doubt we’ll see much change. In the short run people will be treading water, in the long run they’ll forget.
It’s also an area where the current schism (Progressives vs. Western Civilization) is something of a problem. Trump fights the Chinese so the Left favors the Chinese. Trump likes to use trade barriers so the Left love them their completely open markets (at least on our part). Trump favors industrial workers and the deplorables so the Left dislikes and mocks them.
Who knows, maybe the Blue Mob is right. We don’t need to be able to manufacture our own shoes or car parts. The economy can be based on visiting coffee shops (between pandemics), going to benefit concerts (between pandemics), and starting internet marketing companies. We can all move to small towns while the borders are thrown open to the rest of the country. At least you’ll see more variance in specialty restaurants.
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I hope this episode is seen as a reason to on-shore our manufacturing capacity and escape depending on people who are proving most undependable.
Also imagine the market opportunities that will be available again to investors if this will happen. Full employment as far as the eye can see…
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speaking of investments…. in the ‘protecting your investment and fu** the little people’ category: while some entire states are only getting 50 Covid-19 test kits per day, the Utah Jazz got 58.
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Posted by: Robert Cross | 14 March 2020 at 03:33 PM
….and what kind of Saturday would it be if Bertie Cross didn’t drop by for a little whining?
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Bobbi 333pm
In your mind, what is the outcome difference for a sick individual between having the test available, and not having it available?
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RobertC 333 – wrong topic in the wrong place Mr Cross. Test kits under ‘Covid Testing …’
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