I am angry. Very angry.
Typically, I try to be in a jovial mood ... no matter what peaks and valleys the market tosses our way ... but it is difficult today.
Why am I in such a mood? No, it is not because of the sharp drop in the market this morning nor is it due to the comments by Secretary Mnuchin yesterday ... who seemed to paint consumer panic buying of goods as a positive sign, stating on Fox News Sunday that the "extraordinary" drop in spending on travel is "almost corresponding" to an increase in purchases of food, pharmaceuticals and supplies ... going so far as to say, "there's some businesses that are booming."
Heck, if the shelves weren't so empty, I wonder how much better things would be.
No, what really gets me jazzed up is we have been receiving information that it is vitally important for all of us to "flatten the curve" ... in the attempt not to strain the health care system ... and it has the possibility of being accomplished by "social distancing" ... hand washing ... and other methods ... but it takes a combined effort.
Last night I saw pictures and read stories of crowded bars in Boston, Ft. Lauderdale, New Orleans and elsewhere ... as if the threat we presently face is some sort of game.
It was Dr. Anthony Fauci of National Institutes of Health who said: "if it looks like you're overreacting, you're probably doing it right." Sorry, but for the next few weeks ... in my view and the view of many others ... it is time to overreact.
Please note, I am not talking about investing ... I am talking about life. The system cannot absorb a throng of patients who ... for some reason ... decided to treat this as if the shout of "last call" is about to be announced and feel the need to belly up to the bar one last time.
I think I am especially disappointed with the many millennials who, as a group, appear to shout "save the planet" when it comes to the climate ... but couldn't keep this same mindset with something that more immediately threatens so many of us.
We need to familiarize ourselves with the phrase: "flatten the curve" ... which will be in every email I send until this has passed, below my signature. I hope others do the same in their emails and on their websites.
I don't typically include links in the body of my note unless I feel they are of utmost importance. Today is one of those days in this lengthy note. This simulator explains things better than I ever could. I would advise reviewing it.
I certainly hope I am overreacting. But in this case, underreacting is an option I don't think can be risked.
As a final note for today, the best reminder I've seen this weekend was the comment: "our parents and grandparents went overseas to fight a war. We are asked to stay indoors and sit on a couch. We can handle it."
We can handle it.
And we must.
... as of 10:02 AM today ...
In an attempt to calm nerves (I assume) the Secretary of the Treasury, Steve Mnuchin, appeared to point out economic positives of the present panic buying mood (Salon)
... but comments such as these don't seem to be working ... as stores are seeing demand for items much higher than anticipated or planned (CNBC)
... and we not only need product but count on those that stock shelves and deliver goods or it can't work. Truckers may one day be replaced by robots. Automation can be mean (CBSNews)
What will all this mean for the economy? It should be obvious that calls for recession are on the rise ... as jobs are lost and discretionary spending seizes up (Reuters)
There will, of course, be many news articles in the coming days ... some tremendously sad but others talking about cures. We can only hope that one is right (USAToday)
One thing I've noticed ... when talking with old high school classmates (literally) ... is just how nice they have become. Were they always like this? Or am I (and they) just getting old? (BBC)
It looks like many of us will be housebound ... or at least have kids home from school ... so, in addition to Roblox or whatever they play, here are some math websites if they feel they must be on a computer all day (WeAreTeachers)
... and not everyone feels this is a major, major problem. Bars in Boston, Ft. Lauderdale and New Orleans were crowded over the weekend. "It won't be me" seems to be the attitude (CBSLocal)