Looks like another Covid variant has been invented. Got to keep those drug company profits up now that Delta is fading from relevance. Time to shut everything down again, cuz people may die. At this point it’s hard to take any of these ‘health experts’ seriously after they promised the the vaccines would stop Covid, in addition to being wrong about everything else too. I and others predicted that there would be more mutations, as these viruses tend to do. But it’s become a political tool. It would also not surprise me if there was massive insider trading before this announcement. The timing also coincides just days after the Waukesha tragedy, in which the perpetrator apparently does not fit the ‘angry white male’ archetype, so what better way to both bury the Rittenhouse verdict and this new tragedy by announcing a new variant.
Nassim Tooleb is again rejoicing about more shutdowns and restrictions.
Governments are finally learning that [early] lock-out is vastly more effective & cheaper than [late] lockdown.
This is something the Byzantines, Ottomans, Venitians, & Austro-Hung. [actually anyone who knew anything abt 1)Trans-Eurasian commerce & 2)Risk logic] understood well.
— Nassim Nicholas Taleb (@nntaleb) November 27, 2021
If the virus keeps coming back due to new mutations, what good does having more shutdowns do, assuming they even work, which except for maybe China and a few other countries, they evidently don’t?
As I also predicted, any new bad Covid news would push interest rate expectations lower and be used by the the fed to justify keeping rates low even in spite of high inflation and a booming stock market, and sure enough, just days after the post was published a new Covid variant was announced, and treasury yields took a nosedive: Interest rate hikes off the table again! Meanwhile, I predict the stock market will make a v-shaped recovery. It’s almost as if this variant was timed just as the fed was looking to raise rates by 2022. Also, the economic toll of this new variant of Covid will prove minimal despite the media hype.
Also, Bitcoin crashed 8-10% (4x as much as the S&P 500 and Nasdaq) on Friday on the Covid news, proving (as I also wrote last week) that Bitcoin is useless as a hedge against uncertainty and a bad investment overall, having 4x the downside of the S&P 500 and none of the upside.
This is why I am such a great investor and forecaster because I intuitively understand how these things work, what to buy and what not to not buy, without even having to think about it that hard. In April 2020, I correctly forecasted that the economic impact of Covid deaths would be minimal and that the stock would make a v-shaped recovery using a simple calculation involving baseline population growth.