Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

COHR 181.67

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Dec 5 9:30 AM EST

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kimberley

To: Winfastorlose who wrote (8441)	3/17/2020 11:42:29 AM
From: John Koligman	1 Recommendation Read Replies (1) of 26709

The market discounts the future, not the past." I agree with you there, and that is exactly what the market is trying to do now in terms of where the US economy will be, at least in the short term. I think this event is an excellent example of how fragile things can really be, that 'best US economy ever' that Trump so liked to brag about has literally been brought to it's knees in a matter of weeks. The entire market move during his term has literally been wiped out. Going forward, I'm thinking about a couple of things. First, the deficit was already around 1 trillion, now with every CEO and his/her mom waiting in line for billions, along with unemployment and lower tax receipts, are we looking at 2T? More? It will be interesting to see how Republicans that bitterly opposed the bailouts during the financial crisis handle this one. We are also going to see a 'reverse wealth effect' for the first time in a long time among the 10% who own most of the stock in this country. Less luxury will be sold when they see their portfolios down 30-40%.

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