One of the things I pride myself on is managing expectations and advocating for you by delineating the noise from the actionable information you need to know.
With that, I found it important to reach out with the news breaking this morning about the Russian ‘vaccine’. Unfortunately, I feel it is another ploy by the Russian government and until it is certified by any reputable organization, view it with total skepticism.
Ironically, the announcement this morning of the vaccine and the potential to change the world, like that led me to think how 75 years ago this week, the world changed as well with the official surrender of Japan, essentially ending World War 2.
And I can’t help but think that out of that dark period in the world’s history, all of the amazing accomplishments that came out of it due to scientists and engineers who were originally from Europe.
Most recently:
Would Space X and astronauts Bob Behnken and Doug Hurley have done the incredible things we have just recently witnessed?
Now many of you have heard or read my comments before citing Dr. Cam Harvey at Duke and his observation that a lot of the innovation for a COVID19 vaccine is being developed and lead by European companies.
And as of now I have no reason to deviate from that. The expectation is that between mid to late October we will get a good idea of whether or not these vaccines are successful.
For those of you interested, Bloomberg has a great vaccine tracker with updates here.
So for now, we stay the course.
What is a bigger threat is the political gamesmanship occurring in Washington. The government needs to continue to infuse cash in order to stabilize families and business. If that does not happen soon, I fear the ripple effect that will be felt through the economy. All this political posturing is going to lead to senseless collateral damage. For instance, a payroll tax cut is not going to do anything but rob Social Security of money that it already is lacking. There are far more effective ways of injecting money into the system but someone is going to have to blink first.
As always, I will keep my ear to the ground….
Financial Recon 