Recent increases in COVID-19 infection rates in Arizona, Texas and Florida along with debt growth and rising unemployment provides a dim view for the economy. We need a return to work to get through this slump as the media drums up fear for profit.
Dr. Fauci has been beating the drum of caution on COVID-19, and is unhappy on the way things are going. He recently mentioned that Americans "don't believe science and authority". He also called those who would avoid or be concerned about a rushed vaccine made from "Operation Warp Speed" as anti vaxxers.
Enhanced COVID-19 controls and the threat of another lockdown loom. After an Arizona casino worker died from the pandemic, casinos have been closed again after extensive lockdown. The economic picture after the extensive lockdown is apparent, and over 100 million loan payments have been missed this month.
It appears that the pressure is on to recover and prop up the economy using false hopes of a cure and Federal Reserve bailouts. Stealth layoffs and stagnation during unemployment claim increases leads to a bad look for economic recovery. As the enhanced benefits of $600/week and restrictions on layoffs end in July, expect more pain to come. How can the stock market be rising like it has been during this real reduction in demand?
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