The Prudent Retiree - What's Going On Part XV
Let’s see—the Fed this week said that the economy is worse than they thought and the government will need to do a lot more stimulus to keep things going for a recovery that will take longer than expected. Well, that’s not good news. The Supreme Court will hear a motion on whether Democrats can take another run at impeaching the President. Deja Vu all over again as Yogi Berra said.
The President is taking a drug to ward off COVID-19 that many medical experts claim will kill you. There does seem to be positive news on the vaccine front and the overall trend of infections and death is going down. States are reopening and people are going out. This makes some angry and there have been protests both for and against the resumption of normal life.
What is the market doing? Going up. One might say the market is numb to the news. I know I am. Prudent Retiree will continue to follow the market and not predict. Maintain your current allocations.
Pink Floyd is one of Rock’s most renowned psychedelic bands. “Comfortably Numb” was recorded on their rock opera, The Wall. It is one of the top selling albums of all time. I saw them in June of 1975 at Three Rivers Stadium in Pittsburgh. They performed their other magnum opus, Dark Side of the Moon. At one point during the show, a giant balloon pyramid broke loose and floated out of the stadium. Wild. That never happened during a Steelers game. I’m just glad that forty-five years later, I’m not comfortably numb.
God Bless all Veterans and Armed Services Personnel. We thank them for the sacrifice that allows us to live freely as Americans.
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