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34

02/08/20

22:41

Post #: 46252328
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Originally posted by aldo ↑

FWIW here are my current sentiments.
In the USSA the Cares Act income supplement has come to an end for the majority of unemployed. At least 30 million will not have any income apart from state assistance which can range between $100 and $300 pw.
There is anecdotal evidence of monetary stress on many levels. The moratorium on evictions for unpaid rent is also finishing which means a lot of social unrest as people who cannot pay rent or accrued arrears are booted out of their homes. Mortgage backed securities are set to crash again.
Last week new registrations for welfare an unemployment increased.
Pandemic shows no signs of abatement.
New records are being set in shop and store closings.
USD index continues to decline against other currencies.
10% GDP contraction for the June quarter.
I could go on and on but I believe you are getting the picture. The USSA is rapidly becoming a basket case of immense proportions.
Looks to be setting up for a big week in the metals.

On a personal note: in an effort to demonstrate some personal fiscal responsibility I have started buying beer from Aldi. It is cheaper than everywhere else and tastes very good. I have to lead by example.

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Hi Aldo

Last year in the US over 50% of people had to rely on food stamps to live
Last year in the US 70%+ of people had less than $3000 in savings

Then along comes Covid and heaven only knows what the true figures are now
And all this while the false figures showed the Dow booming
11 Upvote

0 Great analysis

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