As mentioned in our prior newsletters, many snakes laid beneath the grass. Throw a COVID-19 impact on top of debt laden society with a previously slowing economy, and it looks like the Indiana Jones moment when he learned that Asps were an entire roadblock between him and the ark of the covenant. I remember back in second grade proudly telling my teacher, that an “a-s-p” was a word in a word-jumble exercise. “It is a venomous snake”. But she wasn’t buying it. Luckily, during recess, my principal, Sister Trudy, and Miriam Webster both bailed me out. But no number of bailouts and packages will save us from economic issues that lie ahead. Essentially, Trump wants nothing more than to seize the ark from Indy and be declared the winner. Neither side of the far left or far right will win. Globally could be even worse. Only hard work, innovation, and better communication while buckling up through some serious snakes will get us out of this.
• This health crisis struck us at a vulnerable moment, at a time when the economy was slowing (contrary to popular opinion), earnings had already peaked in 2018, the Fed was already out of ammunition due to rate cuts, and stocks were at elevated levels.