Now Comes the Difficult Part
What i am referring to here is the upcoming and probably impossible struggle to get back to the Old Normal. That in essence is what is behind the stock market rally since late March. The market set its sights on what it thought it had before COVID-19 and was relentless in its move to try and recapture the past. It was helped along by basic cash support from congress and then pushed to extremes by the Treasury and FED. That is mostly history at this point, some smaller clean-up funds are coming but the big thrust is behind us.
Now comes the time for Proof
Number one issue is that there has been no implementation by the Administration directed to putting together a Recovery Plan to develop New Normal parameters, let alone an Action Team. All that has happened so far is increasing the debt with no possibility of paydown. That debt and coming increases in it will play out in the interest rate structure of the economy as we move forward.
Conventions are Over
A lot needs to be done on laying out the New Normal but for the time being with the conventions over and platforms, such as they are, stated, we move forward towards the election. We can only hope that it boils down to an appeal to the common decency of the American people to make their choices.