Market turmoil @LizPeek
Image: Flash crash (not our problem today; but the markets are roiled in part because of inaccurate analyses; and this graph is picturesque). The DJIA on May 6, 2010. Elizabeth Peek, TheHill and Fox News; in re: The economy was going gangbusters—275,000 jobs added last month, being 1,000 more than anyone expected—until this [Wuhan flu] came in. Note that the flu doesn’t fare well in heat [actually, in humidity], and can be turned back by good hygiene. . . . Today, banks are much stronger, but yesterday added a big unknown to an already-uncertain situation; then the oil industry, esp the shale oil industry, is under tremendous pressure and apparently in trouble. Today’s bounce-back was a partial recovery of confidence that the Saudis and Russians are speaking to each other, or at least to their own oligarchs. Btw, the Saudis need money to diversify their economy. The South Korean success in separating masses of people suggests that this thing can be controlled. . . . Satellite photos over China show more pollution, meaning that industrial production is probably picking up. . . . Our overdependence on Chinese supply chains: will we go back to business as usual? No – Southeast Asia, Turkey, and other countries will be called on. The USMCA makes investment in North America much more inviting.