by Gary Christianson, Miles Franklin:

STRIKE ONE: The Lockdown.

The closer came off the bench and threw “high heat” at the economy. Regardless of who created the COVID-19 virus, infection rates, actual virus-related deaths, our bungled management, and the ulterior motives that affected the pandemic and response, individuals and the U.S. economy must live with the consequences.

Strike one delivered:

a) 40+ million newly unemployed American workers in three months. A disaster!

b) Thousands or millions of devasted businesses. Another disaster.

c) Bankruptcies for small and large businesses and individuals.

d) Late (or no) payments for rent, auto loans, mortgages, and credit cards. Foreclosures are coming.

e) Commercial real estate crash. Shopping malls, office buildings and more.

f) Lost revenue, crashing GDP, massive new debt.

g) Crushed state and local budgets. Lower tax revenues.

h) Pension plans falling into insolvency.

But the NASDAQ 100 hit an all-time high on Friday, June 5. Profits are great for the political and financial elite who own 90+ % of stocks and bonds that have been levitated by the Fed printing $3 trillion in a few months.

Those new highs were not confirmed by the DOW, S&P, Transports, or other indices. But never count Fed levitation out for short-term market manipulation.

The Fed can’t print wealth, prosperity, gold, silver, or happiness, but they will print digital currency units. The political and financial elite have Fed support backing them. However, the lower 90% get unemployment, bankruptcy, overdue credit cards, unpaid car loans, late mortgage payments, and a belief that “something is wrong.”

STRIKE TWO: The riots.

The closing pitcher threw strike two, a vicious curve ball that looked like an inside fast ball but curved over the plate and dropped to cross the outside corner at the batter’s knees. Strike two caught most of the U.S. by surprise. The forces of chaos waited for an opportunity and then struck. Riots were organized, police reacted, protestors were violent and peaceful, and moral outrage overwhelmed the media. People marched in the streets, ignored social distancing, and created chaos in hundreds of cities.

Businesses that survived the COVID lockdown, social distancing, and phased re-openings were destroyed in the riots. Vandalism and arson ruined pawn shops, offices, retail stores, and Wal-Marts. Bricks were suspiciously planted in convenient locations for use by violent rioters. Some riots were planned and professionally organized.

Strike two was deadly for businesses and people. The ugly consequences will extend far into the future.

STRIKE THREE:

The closer is preparing to throw his third strike and make the final out. Will it be another fast ball, a nasty slider, or an unexpected curve ball that fools the populace?

We can almost guarantee the following:

a) The Fed will create trillions of digital dollars, buy Treasuries, buy bonds and ETFs, and bail out banks, hedge funds and the financial elite. [Already happening.]

b) Politicians will promise giveaways, and assure people their vote will improve employment, social services, infrastructure spending, racism, the economy, unwinnable wars, and so much more. [Always happens.]

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