"Come sleep on the beach
Keep within my reach
I just want to die with you near
I'm feeling so high with you here
I'm wet and I'm cold
But thank God I ain't old
Nothing is planned, by the sea and the sand" – Who
It is, as noted by Linette Lopez "The Perfect Storm of Stupid" in which, for purely economic reasons, we are risking the lives of Millions of Americans to get business back up and running for Memorial Day Weekend. ; She notes that ;China's economic rebound has been led by manufacturing and industrial sectors while the country's service sector, especially when it comes to transportation and leisure, is still pretty dormant. ; ;That is bad news for the US. ; Most of our economy is made up of small and midsize businesses in the service sector. ; Consumption is what we do.
Manufacturing will not lead America out of this economic malaise; it simply isn't big enough. ; The coronavirus pandemic has hit our economy exactly where it counts: in services. ; ;we have in the market is an unholy mess. We have bored, unseasoned, emotionally conflicted investors playing around in a murky pool where one of the most opaque sectors has the ability to make the biggest waves. It's very stupid — people are going to drown.
Meanwhile, I've been discussing my own experiences in Florida this week as you are hard-pressed to find people wearing masks down here and the hotel my daughter is staying at (she drove down) is now about 1/3 full and the restaurant we ate at last night (I know!) was half full with the staff wearing masks but none of the customers doing so. ; ; ;
SOURCE: Phil’s Stock World – Read entire story here.