03-17-2020, 02:42 PM
The eleven-year bull market was going to end, and market speculation that got the DJIA to nearly 30K was the last act. The market was already sliding as news of COVID-19 started to appear. AIDS did not have that effect.
Any bull market fosters bad habits such as short-term borrowing for long-term projects, under-reliance upon bonds for financing, inadequate savings, and over-payment to executives while workers get the shaft. Were it not for COVID-19, then something else would have triggered a downturn.
Any bull market fosters bad habits such as short-term borrowing for long-term projects, under-reliance upon bonds for financing, inadequate savings, and over-payment to executives while workers get the shaft. Were it not for COVID-19, then something else would have triggered a downturn.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.