Most Americans are certainly aware a deadly coronavirus broke out in China and has spread around the world, including to the U.S. Far fewer Americans know the Trump White House’s war on 'the administrative state' (really on those parts of the federal government that don’t serve concentrated wealth and power or that punish the working and lower classes) has rolled back the federal government’s ability to respond effectively to pandemics.
Trump has slashed funding for the federal Centers for Disease Control and Prevention and its infectious disease research. For 2020, he proposes cutting the CDC budget by $1.3 billion, 20% below the previous year’s level, raising serious concerns among public health experts about the nation’s capacity to protect the citizenry against a deadly contagion." - Paul Street
Stocks were weak most of the day but managed to ride buying programs into the green in the last twenty minutes of trading.
Pretty confident programs, buying into a three day weekend with black swans a-swirling.
Gold finished higher as did silver.
Gold is pushing fairly hard against that breakout trendline resistance.
At some point, I expect it just might get some traction against all this pressing down, and moving somewhat briskly higher.
The Dollar is overbought.
Madness. All of it.
Have a pleasant weekend.
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