All The King's Horses and All The King's Men
Couldn't put the Stock Market Back Together Again.
The stock market largely made gains yesterday on speculation of what the final relief package would look like.
It's not what Wall Street expected and so today we have mixed results. The market is still feeling heavy short pressure. Why?
Because the worst is yet to come. The market is highly reactionary with leading speculation that drives it in wild swings. While everyone knows right now that unemployment filings are at record levels, crashing local computer systems that normally process such requests, what no one knows is how bad it's really going to be. Speculators don't want to guess. They want to know.
And the bubble-up projections are very difficult to project. Some financial institutions are expecting a 50% reduction in GDP for the quarter. This may not be far off.
And because of the uncertainty in the bubble-up implications, no one knows what is really coming.
But one thing is for sure. It's not good. And the market will react when it comes. And that is why the market is in this zero-G moment where it feels like it could go up. But the reality is, gravity will re-engage. And the drop will look like nothing that's ever been seen before.
Trump knows this because his financial team is telling him. That is why he's so desperately trying to get everyone out of lock-down and social distancing. But the reality is, that isn't going to happen.
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