Apr 6th, 2020
In our second recording today, Luke and Tim pick up right where they left off in the previous video: with the stock market's soaring recovery... or is it?
As stock prices reach near season highs, the dow soars, and the virus seems to slow, will the economy rebound bigger and better than ever as Trump and his cronies predict? Or is this recovery merely a dead cat bounce?
It's too soon to know with any certainty, but after analyzing the news, Luke and Tim think this is just a dead cat bounce. Here's why:
- Federal Reserve Chair Jerome Powell says there will be universal testing for the virus.
- Officials suggest that Americans will be tested for virus daily and given badges to wear if they have immunity.
- There is still so much uncertainty about reinfection rates and what comes next.
- Former Fed Chair Janet Yellen says this will be catastrophic.
- Schilling says the recession will last for over a year and the stock market is far from the bottom.
- And so much more
So are we in a new bull market? Only time will tell for sure, but we don't think so.