967: Recovery delayed by the lockdown of hospitality and travel. @Mctaguej
Image: Isolating a village in Romania (https://en.wikipedia.org/wiki/Romania) whose inhabitants believe that doctors poison those suspected of cholera (1911) Jim McTague: @Mctaguej; in re: The federal jobs report: seven months of growth is halted! Attributed to virus resurgence. “Driven by a sharp decline in leisure and hospitality industries.” Eighteen of those jobs were in cafes I patronized until they recently closed. This was engineered because we don't know how to deal with a pandemic, although we have a vaccine on our doorstep. Joe Biden can’t to a lot worse than Donald Trump. As recently as December, the markets [were optimistic] about 2021. Markets have been buoyant for the last days; warranted? Investors are way ahead of the technology. Biden is willing to pick winners and losers in the energy industry; recall Solyndra, which went belly-up. He’ll pour billions into that sector. NY NJ MA IL CA: the creatively-financed states. Democrats buy votes by bailing out the fiscally-challenged blue states. It’ll be stimulative in the short run because tax revenues are so weak. The blue states will jack up taxes, risk strangling the economy—to a recession? Bitcoin: favored by financial industry survivalists.