Stocks are down again this morning, as it appears battles between the U.S. and China are heating up again. At this moment the present slap-fight is the typical “you close our consulate, we close yours,” yet there is concern – as there always is – that this will escalate into something more. Will this blow over? Maybe. Many things do. With that in mind, I don’t think I’ve heard the word “tariff” mentioned one time in the last two months.
But maybe it is because the virus has taken over most of the headlines (although news on Kanye West and the Kardashians is sneaking in now and then).
There appears to be a bit of controversy among medical experts.
CNN is reporting that 150 medical experts are looking, with worry, on virus data and give the opinion that the U.S., as a whole, should shut down completely and start over. But the CDC, following some recent pressure from the White House, has provided guidelines which basically backs schools being opened for the fall term.
The view here is that the severity on children is slight, their ability to spread it to others is lower, and being out of school may do more harm than good.
I can just see it now, as many households may adopt as a daily announcement, “junior is coming home from school … grandma, go to your room!” Oh, my.
In case you are wondering when things will return to normal, Dr. Fauci provided the view that we might have to wait until 2021 as all seems dependent on the creation … and delivery to patients … of a vaccine.
Meanwhile, the baseball season started anew last night and it was surreal to see cardboard cutouts of fans scattered around the stadiums. But it is what it is … and I will be watching the real opening day later (as we all know that the season doesn’t really start until the Mets play).
On a final note, this year continues to get crazier and crazier … and beachgoers on a beach at normally quiet Cape May found a swarm of bees attacking a towel on a chair … resulting in a bit of panic (greeting each other with: “on towel we meet again”).
Typically, bees are quite safe. I ordered a dozen bees once and the shipper delivered 13.
I asked about the extra one and he told me that it was a freebie.
Have a great weekend,
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 11:44 AM today …
Quick Look at the News
Many were relieved about receiving government stimulus but a small problem developed, as paying people out of work makes them less inclined to seek new employment (CNN)https://www.cnn.com/2020/07/24/politics/jobs-congress-unemployment-benefits-600-dollars/index.html
The CDC has given indication that some of the virus cases are not terribly severe ... so there is little need for extended isolation (USAToday)https://www.usatoday.com/story/news/health/2020/07/23/new-cdc-guidelines-mild-moderate-covid-19-cases-isolate-10-days/5495376002/
... and with regard to schools? CDC says to send 'em back ... as the virus does not seem to affect children the same way it does to adults (CNN)https://www.cnn.com/2020/07/23/health/cdc-coronavirus-school-guidelines-new/index.html
... even so ... many wonder when we will return to the way things were in the past. We don't know ... but Dr. Anthony Fauci looks toward 2021 (CBSNews)https://www.cbsnews.com/news/anthony-fauci-vaccine-2021-we-could-start-talking-about-real-normality-again/
When we talk about "normalcy" finally returning we do note there will be some differences. One example could be jobs, as some that are lost now might never be coming back (CNBC)https://www.cnbc.com/2020/07/24/optimism-fades-jobs-lost-to-virus-will-return-poll-finds.html
Out of nowhere came the name "Karen" ... which depicts someone who acts a little bit ... shall we say ... over-emotional. Now Karen has her own theme song as the fame continues (NYPost)https://nypost.com/2020/07/23/karen-now-has-her-own-theme-song/
As if we didn't have enough to deal with this year ... it seems that a swarm of bees attached themselves to a chair at a beach. This has been one crazy year (BroBible)https://brobible.com/culture/article/bee-swarm-cape-may-beach/