It is a sharp down day in the market … for investors are just now recognizing that the “delta variant” could have some negative economic effects … for even if some states do not shut down certain parts of their own economy, individuals might voluntarily decide to hibernate again. It won’t be foreign to consumers this time as to how to go about doing this … as they’ve had a lot of practice … but small businesses (especially hospitality-related) might be increasingly concerned.
While early reports are that cases rose in 49 states … especially among the unvaccinated … many still refuse and I found survey results from YouGov fascinating.
The top reason given by respondents for not being vaccinated?
According to the YouGov survey, 85% of those not vaccinated feel threats are exaggerated for political reasons, 49% responded that they sense vaccines cause autism (what?) and 51% of those not vaccinated responded that they are concerned the government is using the vaccine “to microchip the population.” Yikes! X-files stuff.
If this is not enough, University of Michigan is showing there was a slight decline in consumer sentiment as inflation concerns are evident … as well as worries over the end of some unemployment benefits. And, speaking of inflation, Daily Shot reports that survey respondents have inflation expectations 1 year out higher than at any time over the last 10 years.
But let’s return to employment for a moment … as I mention surveys so many times … and results are based on people’s beliefs at that moment in time (whether rationale or not). Morning Consult looked at employment and tells us that 3 million adults who are not now in the labor force, plan on returning within the next 12 months. But that, of course, takes a bit of employee confidence … as many who plan to come back might find their positions (past or hoped-for) are no longer available … as some willing and more-eager employee might have taken their place.
I told a story the other day about the guy behind auto-correct … and, I must say, it has been a life saver for me in my writing … as I type fast and proofread my own work.
You still need to carefully read what you write, though, as even though it corrects misspelled words it doesn’t seem to help at all if the correctly-spelled words are themselves, inappropriate.
As much as I depend on it I find that, at times, auto-correct can be your best friend …
… while, at other times, because you trust it so much, it can be your worst enema.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915
… As of 11:48 AM today …
Quick Look at the News
Is it media-inspired fear over the virus “variant” … or something more? Many feel Covid is behind us … although some worry about recent numbers (CNN)https://www.cnn.com/2021/07/19/health/us-coronavirus-monday/index.html
… but the question is “why”. Is it the side effects that are of concern … or because a rushed vaccine is seen as experimental ... or because Bill Gates inserted a microchip? What? (JPost)https://www.jpost.com/omg/20-percent-of-americans-believe-microchips-are-inside-covid-19-vaccine-study-674272
Do you do you sometimes get into a discussion that is about to get out of hand and turn into an argument? Here is how to keep it from getting escalating (Inc)https://www.inc.com/debra-roberts/5-ways-to-stop-an-argument-from-escalating.html
Is living longer in the cards? Well … with advances in medicine, this is looking more and more likely (CNBC)https://www.cnbc.com/2021/07/17/study-living-past-110-is-becoming-more-likely-longevity-tips.html
… but what kind of future will this lead to? One study in the 70s was laughed at as it questioned problems due to dwindling resources … but some are taking a, worried, second look (LiveScience)https://www.livescience.com/collapse-human-society-limits-to-growth.html
On the other end of the spectrum, we have new births … and with this number declining there may be point where we are smothered by the elderly (my phrase) (LiveMint)https://www.livemint.com/companies/news/elon-musk-says-earth-is-seeing-population-collapse-wants-people-to-procreate-more-11626497035957.html
… and while just asking our young adults to have kids (more and earlier) sounds easy to do … many just don’t want kids at all (Salon)https://www.salon.com/2021/07/17/far-more-adults-dont-want-children-than-previouslythough_partner-2/