Mindboggling the chuntering that comes out of the Orange Cheeto Leader. Still surprised the S&P bounced earlier after his speech. But also still think it’ll end up being another dead cat bounce once reality intervenes.
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Side note, regardless of your views on Trump, Pence’s speech was one of the most sickening, brown nosing, fan boy routines I have ever witnessed. Pence will be stinking of cheetos for weeks.
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An interesting read…
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…and already Google are ‘managing expectations’ on that!
Statement from Verily: "We are developing a tool to help triage individuals for Covid-19 testing. Verily is in the early stages of development, and planning to roll testing out in the Bay Area, with the hope of expanding more broadly over time.
— Google Communications (@Google_Comms) March 13, 2020
Sounds like it might not be oven ready.
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The Bitcoin (BTC) price dropped to $3,600 overnight, marking Bitcoin’s biggest daily drop in the last seven years. Over $1 billion worth of longs was liquidated on March 12, causing one of the most intense long squeezes in the crypto market’s recent history.
The main catalyst of the sudden 50% decline in the price of Bitcoin within a span of eight hours was the 9.99% drop of the Dow Jones Industrial Average.
Turns out that was ‘Fake news!’:
Dear god.
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Bloomberg - Are you a robot? @shane-aurora can carry on working from WeWork
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Long on food.
Short on food also. Literally.
BARCELONA, Spain (AP) — Spain locked down its 46 million citizens Saturday and France ordered the closing of just about everything the rest of the world loves about it — the Eiffel Tower, the Louvre, the cafes, restaurants and cinema …
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Meanwhile, China, where the scourge first appeared late last year, continued to relax its drastic restrictions …
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Ironic but safest place now may be China.
Was speaking with Chinese friend who lives in UK I started buying supplements from
https://pbs.twimg.com/media/ER_54hGXsAY5y_f?format=jpg&name=large to start with.
What keeps ministers and officials awake at night is the fear that if the epidemic becomes too great they would have to make appalling decisions, such as that the NHS would stop treating people over a certain age, such as 65.
I’m a WFH now! No more wework for me
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I’m generally pretty optimistic - i’ve been chucking a few hundred of beer money into a couple of diversified trusts i like the look of with the drops.
That said it’s blatantly all going to keep dropping in the short-term. Euro Corona news is looking bleak; Italy, Spain & France on lockdown, German airlines are potentially stopping flights[0] presumably in anticipation of a near-future lockdown.
Depending how long this drags out, plan on sellig organs and hoovering up stocks like Boeing if they get real crazy and hit 120, along with Wetherspoons if they hit a fiver, but like most of us the only holiday i’m getting this summer will be to a metaphorical red sea before any of this starts to resolve itself.
[0] I had a holiday booked for April, flying with Lufthansa. Was emailed today and advised to contact my agent within 48 hours.
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Keep an eye on your cruise operators. They’re in lockdown at the moment but any cruises that were in operation are supposed to finish as usual.
Unfortunately for them it’s no longer the case and cruisers are to be repatriated early next week.
Expect bigger falls on your favourite tour operators.