As US celebrates Independence Day, it is most apt that one Dr Shatner suggested that Americans celebrate Interdependence Day at the time when the pandemic is in an uncontrollable spread with daily cases hitting 51k while POTUS continues holding his irresponsible campaign rally , this time at Mount Rushmore without mandating the wearing of masks.
Despite the record number of cases in the US which will probably reach the 100k daily cases Dr Fauci predicted and which I reckon within 1-2 weeks , Trump continues to be in denial and in his baffle for action, continues to rely on hope.
"I think we're [going to] be very good with the coronavirus," he said.
"I think that at some point that's going to sort of just disappear, I hope."
Like I often say in this thread, denial and hope are not strategies , equally as they are not for stocks when facing adversity. Denial and hope stays with someone who fails to want to introspect and recognise and acknowledge one's mistake, however big or small - this is commonly the failure of an investor who is not well diversified and pins entire stake on a single hopeful stock (usually one that is a market darling like BIG, GSW etc , and yes APT too).
After all, Doing Nothing is Doing Something. Which applies appropriately to holders of failed dog stocks who continue to be in despair and cling to hope only to find things (including share price) continue to get worse (albeit short periods of irrational price exuberance on nothing more than immaterial and inconsequential news announcements) as time progresses, yes As Time Progresses A Dog of A Stock Show You More Fleas.
President Trump has only just a month to narrow the gap with his contender ; he has a few factors against him now - 1) According to polls, the pandemic is foremost in the minds of voters and considered the most important issue, it is this issue that he has completely bungled and continues to do so with his unhelpful ill-advised rhetoric 2) even ex-Republican statesmen including those under the Bush administration are pulling together to campaign to throw Trump out of office 3) statistics have shown that voters do not change their mind 3 months prior to election day, which means he only has 1 month - and bad for him, it is the next month that the pandemic would reach disastrous proportion (think about hospitals out of capacity and states being shutdown all over again). So far (yes I qualify so far) his polls are as good as Jimmy Carter going into his second term bid.
Why do you think he has been so mousy on China? China has failed to deliver in the trade agreement and he has held Navarro back. Because to declare China's non compliance is a testimony that his trade deal failed and here's proof
For more color on China not upholding trade commitments under the deal - we turn to Peterson Institute for International Economics (PIIE). Their trade deal tracker (latest data from April), shows China's purchases under the trade agreement has been significantly below agreed-upon levels.
Even before the trade deal was signed - we outlined in December, vessel tracking data didn't support China was purchasing farm goods from the U.S. - instead, they abandoned North American markets for Latin American ones.
In June, we noted again; there was no way in hell that China was buying enough agricultural goods from the U.S. to satisfy commitments. Just look at the vessel tracking map below (from early June) - a massive traffic jam of ships carrying soybeans from Latin America to Asia was seen - and just a few vessels carrying beans in North America.
What's evident is that China has predictably fallen way short of its commitments of the trade deal as it now blames virus pandemic for reduced purchases.
The Trump administration should come clean and just admit the trade deal is a dud.
