Just Another Manic Monday

Virus cases are down.

President Trump was right – as soon as we stopped the CDC from counting cases, less cases have been reported and the official number of US virus cases has dropped off considerably.  That's SCIENCE!  As you can see from this New York Times chart, however, there's a very suspicious amount of states that are way over the US Average, which indicates the US average is simply not reporting all the cases.  SCIENCE!  

Also, as pointed out, even our best states are having more cases than the 10 WORST countries in the world (besides ours, of course).   Meanwhile, we have a new miracle cure – exactly the kind of cure rich people think up – we take the plasma from people who have recovered from covid and inject it into people who've been exposed.  It's called "convalescent plasma" and it's based on the same sciency-sounding principle that has old, rich people getting transfusions from young, healthy people to "keep their blood fresh".  

Trump has had the FDA grant this "treatment" and emergency-use authorization which is like the FDA saying "This could be total BS but we don't have any better ideas, so what the Hell?"  Trump also had the FDA grant the same authorization to hydroxychloroquine back in April and it was revoked in June once a few studies were done that showed the "treatment" to do far more harm than good.    

NONETHELESS, Global markets are rallying this morning on news of a "cure" with the Dow back above the 28,000 line but we're still shy of the February high of 29,500.  The S&P 500 is over 3,400, where it topped out before and the Nasdaq was 9,750 before the crash but now blown past it at 11,680 – 20% over the pre-crash highs and 50% over the lows of March.

Of course, the reason the Nasdaq 100 is doing so well is that it is the most concentracted index on FAAMG:  Facebook (FB), Amazon (AMZN), Apple (AAPL), Microsoft (MSFT) and Google (GOOGL) – our Trillionaire Corporate Citizens.  Those stocks are up 35% for the year, adding $3Tn in market cap in 8 months so, if you're wondering where all that stimuluss money went, look no further than into the stock valuations of our 5 Tech Titans.