WASHINGTON – After the first full week of December proved a bummer for investors in the US stock market, nearly everyone looked forward to a continuance of November’s impressive rally Monday. And indeed that’s what they got, as stocks opened up significantly at the 9:30 a.m. opening bell. But then, New York City’s idiot mayor Bill de Blasio took care of that optimism a bit later in the morning, preparing his serfs and vassals for the “possibility” of a full business shutdown of NYC. Because, coronavirus.
The Twin Tylers are on the “full shutdown” story
“Stocks are leaking lower Monday morning, erasing some of bump, after NYC Mayor Bill de Blasio brought up the possibility of a ‘full shutdown’ of NYC on Monday, the day that restaurants in the city were forced to close as new bans on indoor dining went into effect.
“As restaurant workers across the city took to social media to offer closing restaurants (many of which will probably never reopen) one last toast, the mayor warned that there could be even more economic pain ahead, as COVID numbers and hospitalizations climb across the city and across the state, even as its health-care workers will be among the first in the country to get the vaccine).
“‘There’s the potential of having to do a full pause, a full shutdown, in the coming weeks, because we can’t let this kind of momentum go,’ de Blasio said on CNN when asked Monday morning about comments made by Gov. Andrew Cuomo last week, when the governor warned about a bigger shutdown.
“‘We’re seeing the kind of level of infection with the coronavirus we haven’t seen since May and we have got to stop that momentum — or else, our hospital system will be threatened,’ de Blasio added, before warning that the virus must be stopped at whatever the cost due to the threat of ‘too much damage.”
But wait! There’s more from NYC’s idiot Mayor…
Too much damage? Better that the peons who work for restaurants and small retail establishments should suffer “too much damage,” right, Bill?
The blathering of New York’s idiot mayor continued.
“‘This kind of momentum that the disease has right now? We’ve got to stop it. We’ve got to stop it before it causes too much damage, too much pain…and we have to stop it to give time for the vaccine to really be properly distributed.’”
Too much damage? Too much pain? ZH had the same train of thought.
“Presumably, not economic damage, though.”
The problem is, idiot mayor Bill really believes this crap. So America’s investors, ready to get in the Santa Claus Rally mood, get to suffer, along with their 401(k)s and pension funding.
Idiot mayor Bill’s loose lips torpedo Monday’s in-progress stock market rally
Meanwhile, that ignorant blunder, typical of the city’s communist mayor, quickly kneecapped Monday’s robust rally, cutting gains in the Dow Jones Industrial average by over 50%. As we write this article just past the noon hour, the tech-heavy NASDAQ is still up strongly, gaining 1.07% (131.94 points) on the day thus far. But the average continues to weaken.
Meanwhile, both the Dow and the broader-based S&P 500 remain up marginally. But the Dow continues to fizzle like a slow-leaking balloon. We could see at least the Dow in the red before today’s closing bell
Perhaps stocks can shake off the bad vibes set off by idiot mayor de Blasio. He could care less, of course, because of his communistic ruling philosophy, which clearly leads him to disdain NYC’s financial community, which essentially drives the city’s economy and tax base.
Pfizer vaccine launch had boosted stocks Monday morning. Until…
But, beyond the idiot mayor, the averages launched a renewed rally Monday morning. The reason? The beginning of the delivery of mass quantities of the Pfizer coronavirus vaccine that cranked into action Sunday. Ironically, numerous reports claim it was a New York resident who received the first shot this morning.
The rollout of this and presumably other vaccines over the next month or three marks the beginning of the end of the asinine panic. Maybe the disastrous forced masking and house arrest of American citizens for nearly a year can finally conclude. The coronavirus panic’s greatest importance was two-fold.
- It finally provided a potent if clearly seditious excuse for preventing the re-election of Donald Trump as president for another 4-year term. (Massive vote fraud in crucial Blue States was just the icing on the cake.)
- It also provided an excellent chance for dictatorial Blue State Democrat governors to wreck businesses and force the average citizen to cower in his or her home indefinitely while trying to eat dinner through a mask. They’ll force each of their subjects to get micro-chipped the next time.
What comes next? Who knows. We’d best play it fairly safe in December
We still have a half-day of trading left, so who knows what comes next? The partially fake electoral college meets today to confirm the success of the Democrats’ fraudulent steal of Election 2020, which will make at least the bigwigs on Wall Street ecstatically happy. That alone could re-start Monday morning’s rally attempt, albeit for the wrong reasons.
But don’t doubt that NYC’s idiot mayor likes to exercise his vocal cords. Ditto New York’s thuggish governor the elder Fredo of that state’s brain dead Cuomos. One thing’s for sure: New Yorkers – and the rest of us – will continue to pay the price for that state’s idiotic tendency to elect Marxist oligarchs to destroy the city and the state.
Personally, I’m hoping we get back to a year-end Santa Claus Rally so I can sell off most of my portfolio at or before the end of this calendar year. If America’s first-ever totally fake president is actually inaugurated on January 20, 2021, God help us all. Including Mr Market.
– Headline image: Cartoon by Branco. Reproduced with permission and by arrangement with Legal Insurrection.
Slightly resized to fit CDN format.