Australian dollar poised for higher as Trump destroys America

See the latest Australian dollar analysis here:

Macro Afternoon

DXY was weak Friday night:

The Australian dollar is right at the breakout line versus USD:

EMs were soft:

Gold jumped:

Oil jumped:

Dirt meh:

Miners were strong:

EM stocks tried:

Junk succeeded:

Bonds were bid:

And stocks:

El Trumpo chose not to confront China over Hong Kong with a range of meek measures that will do nothing, plus he made a rhetorical recommitment to the trade deal. That’s why markets rallied late.

So the faux cold war continues, to protect the stock market of course.

That said, I would not take it to bank. Trump’s approval ratings are soft and getting softer:

And he’ll need some very divisive politics yet to have any chance of winning. Why? Because the US economy is toast. The virus spread is turning higher as the northeast epicentre improves but elsewhere deteriorates:

States like Texas and Virginia that reopened a few weeks ago are now seeing case numbers spike again.

Moreover, testing is suggesting virus penetration at only around 5-7% of the population:

So herd immunity is around three years away at current infection rates. Assuming no mutation (lol).

Death rates are better with hospitals better prepared but it won’t matter. Private sector conservatism will prevent any return to economic normalcy. Far below even the weak recovery that we’ve seen in China.

In short, Trump’s virus voodoo has delivered the US the worst-case outcome. An endless half-lockdown with high infection rates and enough death to ensure large areas of economic paralysis and nothing reopening with any kind of vigour.

He’s going to need something very big and distracting going to an election which will itself still be marred by an interminable virus fight.

Perhaps it can be a gigantic and shiny stock bubble as shares rise into an equally interminable stimulus.

The Australian dollar is still slowly decoupling from that:

But it still looks poised for higher.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)


    • HnH your an absolute IDIOT….. you have no clue what is going on over here. You really need to do your homework. Did you know in most States that antibody test and positive CV tests are all counted as postitive CV. ? DO YOU KNOW WHAT AN ANTIBODY TEST IS? Dr. Brix and other experts have said the CV deaths and cases are 25 to 30% off and they dont trust anything form the CDC. Also CDC has come out and said the mortality rate over here is .4% 50% of those deaths are from nursing homes because of these stupid governors like Cuomo CV patients in there. I could go on but keep posting your STUPID crap its funny to watch stupidity at it’s best. I am sure you will delete this. GET YOUR HEAD OUT OF CNN.

      • I like America, and don’t mind Trump, but your one angry roided up dude, calm down son

        • It’s hard when I read stupid crap like Trumo is destroying America. I mean come on I like this site but getting tired of reading stupid $hit like this ALL the time. If I want to read CNN I’ll go read it. Leave this crap off this site.

          • Blottridesagain

            Come on LBS! You need to watch more Australian ABC and read The Guardian to get the real facts. Clear your mind and stick to the simplest of narratives. You’ll be instantly popular. Just follow the Links list here every day.

          • Stewie GriffinMEMBER

            Besides, to the average person it looks to me as though BLM and Antifa are doing a better job of destroying American atm than Trump.

          • I’m not sure about the profanity, think that’s unnecessary

            I’d have to agree, I don’t trust the COVID numbers either

            I don’t vote for any political party, I just pay the fine but I agree that trump isn’t destroying the economy

            I believe there is a lot of mistruth, from all sides and a lot is politics.

            I feel it should be enouraged on comments to put your best foot forward.

            MB like all of us never get anything correct.

          • Stewie GriffinMEMBER

            I don’t trust any politician either, but the only people I trust less nowadays than politicians are the media.

            The only real reason I continue to think that Trump is the best political choice Americans have at the moment, is the near universal hatred by the media class against him…. but it may just be my contrarian nature.

            Tulsi and Bernie were my preferred hypothetical candidates, as they were the only politicians the media worked harder to denigrate or shut down.

          • Blottridesagain

            Tulsi !!!! Yeah!!! B ut she sure is not going to get parachuted in to replace Jolly Joe Biden when the announce he can’t run because of poor health.

          • Stewie GriffinMEMBER

            Of course not – they’ll parachute in a Cookie Cutter democrat that the DNC purposely places or some Clinton protegé.

          • I’m American and can’t stand the current crop of Democrats, but Trump is making a disaster out of this.

    • bolstroodMEMBER

      Don’t mention the Race riots.
      You did , but I think you got away with it.

  1. I don’t think a stock bubble will help himget re-elected. Given the absolute rage consuming America right now it could add to it as presumably most of the people on the streets atm don’t own stocks. If he needs something shiny I think it needs to be in the form of a ubi for everyone. Or maybe ubi for everyone erasing less than 50k? I doubt even going to war against China (or some other convenient foreign boogie man)would help. I think shiny needs to be domestic and it needs to placate the enraged masses, both left and right
    But what would i know?

    • happy valleyMEMBER

      While El Trumpo is not a happy clappy like SFM, he is dog-believing and probably believes as the SFM creed dictates, that anybody in strife deserves what predicament has befallen them, so a UBI is as unlikely for El Trumpo as it is for SFM?

    • ErmingtonPlumbingMEMBER

      “a ubi for everyone”

      Lol,… The USA cant even get their heads around universal health care.

      • It gets grating to hear what industries need to break from an Aussie when you have so many that need to break here – and everyone wants a handout. Look at your housing, education, etc. and get back to me.

    • Blottridesagain

      Given the absolute rage consuming America right now it. America??? Or North- East, California and Seattle?
      Bit like Australia is only Sydney, Melbourne and Brisbane – where ALL the media is living in the inner cities.

  2. Might be time to capitulate and bring my USD home to AUD. Wanted a better rate than this but I can’t see the AUD heading meaningfully down soon. Anyone have a particular argument against?

    Timmeh timed it well, he bailed out at 0.59.

      • Yes but AUD hasn’t been following EUR that much, think watch AUDEUR 6000,
        Looks like it may drop back to 5500

      • Thanks. I’m wondering when that AUD / SPX correlation breaks down more significantly…

        …worried that AUD could switch from being a risk currency to a “safe haven” again in the event of (say) complete domestic US implosion coupled with China apartments / Brazil virus sending iron ore to the moon.

        • Mmmm
          Very hard to say that US isn’t the safe haven, the riots will settle down then HK and Europe will be the focus again

          • bolstroodMEMBER

            Trump is threatening to bring in the US Armed forces to deal with the riots.
            That could trigger the minute men Patriots

      • … and if Q1 gdp print comes in not so weak on Wed… urgh. Another leg up for AUD.

        • Think AUD is following S&P 500
          I’d be cautious getting long AUD up here
          We touched 55c AUD and we’ve had a more than 20% bounce in 8 weeks, AUD EUR looks a little toppy
          Be careful of a false break up above 67,
          Remember markets always look the strongest at the top and weakest at the bottom
          Moves are going to be extreme both ways

          Don’t think GDP will have any effect
          Watch US equities DOW S&P for direction
          I’m very cautious it’s crazy out there

          • Thanks bcnich. For me I just need to bring a decent stack of USD home some time in the next few months, it’s just a case of jump now or wait? No leverage, no hedging.

            This constant bleeding away of value is not enjoyable, and every time I reckon the AUD is overbought and will slip back it just keeps powering on. It’s starting to fck with my head, tempted to just pull the trigger and get it over with to release the stress, but that seems like such a classic dumb punter move. (Yes you could say I’m a dumb punter so what’s the problem).

          • Arrow
            I actually say with much less conviction
            Things can turn very quickly, very hard at the moment
            I’m struggling a lot more with direction of everything
            Moves are v extreme caused by people’s fear and emotions heightened

        • Arrow. Just letting you know you are not alone. I’m hurting on AUD/USD rates because I hold a lot of USD. But I have decided to ride this one out. It may never get back to where I bought USD, but I believe that it will get better than this. It may get a LOT better than this. I understand you have a time limit, but HODL until September if you can. The long-term upside risk of AUD to 75 is a lot less likely than the downside risk of AUD to 58. The world is about to implode. USD is what to have

          • I bought at 76c and 79c so it’s gone nicely. But I transferred 2/3 back over today. Need the money for a house and for the first time in three years I am no longer sure of my macro dynamics. I have been certain for the last three years about the direction of the AUD and I have been wrong for the last six weeks of that and I can’t stick with play if I am not sure of the underlying position.

            But. One third still in USD for now.

    • Blottridesagain

      I’m sure going to dump at least some of my USD today. So, given my record, it’s probably a good day for smart money to short A$ leveraged to the hilt.

    • Risk on crushes AUD. The realization that everything isn’t apples down here hurts AUD.

  3. Trump getting elected in 2016 despite the horrendous qualities of his character and career proved I don’t understand Americans. His only qualification was that he wasn’t Hillary Clinton. And he is not against her this time. But I fear that he will still find a way to win politically in a manner that I don’t understand despite an appalling level of incompetence, petty “get square” behaviour, and generally gutting the institutions of US federal government from the inside. He has already produced an America weak enough for China to take the opportunity to aggressively test its boundaries. Four more years of Trump would be ruinous.

    • Well let me enlighten you …

      The weakness has come from years of senseless middle east wars that depleted military preparedness, cost Trillions and let China get away with building sand islands in the Pacific it said it would not militarise.
      This has nothing to do with the Trump era. Indeed his initiative was to try and get the relationship with the Russians restored in the long run interest in part as a counter to China, in a similar manner to how Nixon met the Chinese in order to at least get them to sit out backing the Soviets in the cold war. Unfortunately nearly four years crying Russia Russia Russia over a totally fraudulent dossier by democrats has destroyed any chance of détente, and one can only hope this does not put the West in danger over the long run.
      For the record, I think Trump is going to romp home. Particularly with democrats backing these antifa style groups in formenting utter lawlessness, the average LAW ABIDING person, who goes about their business, pays their taxes, gets the right permits, and on and on, has had a gutsful. No way will they see hacks like Biden or Pelosi able to fix this.
      Half the reason most of this is happening in blue state cities, is because in red state areas looters would be receiving two in the chest and one in the head. Fixes the problem real quick.
      In good times the general public might tolerate it to some extent but not in difficult economic times, their sympathy for criminals will run thin indeed.
      This is the sort of stuff discussed around kitchen tables, may not even admit it to their friends but so long as the ballot is secret, they will go and vote Trump.
      We await the left-wing meltdown part deux.

      • Fascist China


        These rioting thugs are a gift to the Trump campaign.

        90% of the rioters are black and 10% are left wing nutters. Neither group were going to vote for Trump.

        Trump is going to campaign saying I was right about China they inflicted this virus on the world, I was right about the left look at the violence and destruction to the country they are condoning and promoting.

        We’ll soon see how infectious this Wuhan Virus is unchecked. Start seeing it spread through the ‘hoods in another 14 days

      • migtronixMEMBER

        “two in the chest” you should see what happened to the idiot with the sword in Texas, Internet tough guy.

        Trump won last time by promising he isn’t a politician – now he’s just the very worst of GOP politicians, the worst ever actually. And this time all the people who were disgusted with the idea of a corrupt Clinton machine winning are disgusted with the nepotistic endlessly corrupt and feckless Trump!

        • So much anger. These aren’t the first race riots and will not be the last. Does pridictiing Trumps defeat in November make you feel better because it certainly doesn’t make it more likely.

        • I’m with you Mig. Trump’s just another swamp creature. Rather than being the creature that lives under the bridge, Trump hangs out by the sewer outlet. They’re all the same sh1t covered parasites.

      • Yeah, Nixon got re-elected in a landslide in 1972 despite the widespread civil unrest (and even won a slim majority among voters in the 18-20 age group, the first US election in which people of that age were allowed to vote). But, the economy did not go bad until AFTER that election, in 1973. This time around, we have civil unrest and economic collapse both happening during the election campaign.
        By the way – how long can Biden realistically stay in his basement? If elected, will he move to a new basement under the White House? Biden might be better off if to deliberately catch the virus now, and take his chances. If he lives, he will have some immunity. If he dies, another candidate can emerge and campaign more actively.

      • Super Phoenix

        The Nuclear Fuel Working Group is one of the best policies in years, if only they followed through with its recommendations. Taking Trump out now will undo the success.

    • ErmingtonPlumbingMEMBER

      “generally gutting the institutions of US federal government from the inside”

      This is why many voters supported him. They don’t like or trust their plutocratic government and voting fortrump promised to fk them up,… Or at the very least embarrass the establishment.
      It was as Michael Moore said ” Donald Trump is every working class voters own personal Molotov cocktail they get to throw at the system”
      They voted for him because he is deplorable, a Clown and worthy of no respect. Not inspite of those things because they hate their Government a Governm that they know only rules to serve the interests of the top 10%.
      Dementia ridden, woman molesting Joe Bidden is hardly a strong contender.
      Maybe enough Amerjcan people will again decide that who is president will make little difference to how America is run by its plutocratic oligarchy and vote Trump in again,…just for the fk you of it.

      The Best analysis ive seen why Trump won right here, before he even got elected!

      • GunnamattaMEMBER

        Great link, though I look at all these conference halls with people packed in pretty tight, and sniffling MCs and think to myself ‘the pre COV19 era’

        His use of the expression ….

        ‘The Appalachification of our world’

        is one poeple should think about

        • ErmingtonPlumbingMEMBER

          I thought all that sniffling might have been indicative of a bit of a middle class cocaine thing going on in the Kansas suburbs.

          • If Trumps makes November he will be the first president for a long while who has not started a war, Obama had 5 in 8 years & he won a Nobel peace prize which is probably another reason to add to all the others why people don’t trust any institution or media.

            China even started building islands in the South China Sea (in 2014 from memory) for the next war.

  4. I expect trump now has more chance of getting elected than before these riots.
    I think the cops in this case will actually have a much much higher chance of being cleared of all charges as a result of these riots.
    And the longer they continue the more chance of trump getting re-elected and the cops getting free.
    Its got to the point that a lot of voters see the current carnage as having nothing to do with the incident but an excuse for thugs and looters and criminals to steal and let wing anarchists to create chaos. And given what i have read about the dead mans history the right wing news and trump supporters will be shouting this from the roof tops. Any genuine protest about the incident is lost and buried and now irrelevant. These riots have given the right wing way more ammunition than they could have dreamed of. What started out as a possible blow to trump and the right wing has turned into something that will give them more power and more votes from main stream america.

    • It’s the most counter-intuitive response I’ve ever seen, you don’t paint yourselves as victims through crime. America is a weird place.

      • migtronixMEMBER

        Is being choked to death good enough then? FFS. You’re like the bogans that think no aboriginal has ever died in custody that wasn’t asking for it.

        • Wasn’t choked to death. The guy died of a heart failure . (This fact doesn’t mean I don’t think the cop should be charged.)

          • Not denying that the cop needs to go to jail. But do you think that is the first time that cop has done that move? No way, he does that every weekend. Its just that this person had a pre existing condition so they died. Let’s not sacrifice the truth because we are angry.

          • BrentonMEMBER

            You could do that to a 20 something year old male in his prime and he’d die.

            It is not common practice for a cop to lean with his knee on a blokes neck for 9 mins. It’s usually done to disable him for the seconds it takes to cuff him.

            Honestly, watch the video. It is quite sickening.

          • Brenton, he didn’t die there on the street. He died at 21:25 (an hour later) in the hospital. From heart failure. Not from strangulation. Not from choking.

            You’re welcome to believe whatever you like in your mind and whatever the news wants you to believe. The truth will eventually come out.

          • Super Phoenix

            It was in fact a mutated version of COVID 20 that can now cause heart failure, but to avoid stirring unnecessary panic among the already-agitated citizens, they settled for the stated official cause of death without details.

          • BrentonMEMBER

            Go to the primary source, watch the video!

            Man slowly dies (chokes out) under a cops knee over 9 mins. Mystically becomes unresponsive at the scene and goes into cardiac arrest…. according to some here, apparently coincidentally.

            I can only say it so many times to those who haven’t watched the video, go watch it. Will be hard to believe the garbage you blokes are going on with once you do.

        • Blottridesagain

          Yeah! Hell yeah!!! Someone get a rope right now. No need for reports from any damned ME – just a waste of paper. While we’re at it let’s steal from and burn out every poor honest bat…d – they all need to die anyway.

          This is the only place I could find this. It’s an old clip from LA riots. YouTube seems to have taken it down as I cannot find any reference to it there. Very specific search just brings up pages and pages of other stuff.
          Good thing to! Gotta stop anyone asking any damned serious questions eh!

        • I’m talking about how they have handled the protests after the incident not the initial incident itself. People from outside looking in get a different picture to those living there, the looting doesn’t help their case to those uninformed of the events.

    • DominicMEMBER

      You have to think the social / community pressures were building in the lead up to Floyd’s demise. He was just a catalyst. And then you get Antifa and every other anti establishment group piling on.

    • Ronin8317MEMBER

      Race riot in the US is a common occurrence. Trump made the riots national when he quoted ‘When the looting starts, the shooting starts’.

      He knows exactly what he is quoting, he wants more riots to boost his chance at re-election.

      Like Ferguson a few years ago, a lot of the rioters will be from outside the neighbourhood, and the police does nothing while the local businesses are looted and torched.

    • I showed this video to my kids so they would know how a real President deals with a crisis of this nature (George H.W. Bush address, May 1, 1992, in response to the Rodney King riots). Even Bush’s opponents had to admire the gracious and dignified manner in which he spoke.

  5. – The weakness of the USD continues to confuse me.
    – I think that Trump is suffering (mentally). He was used that people would whatever he ordered them to do. But as the president of the US he has discovered that there are people who have more influence than the president.
    – Someone pointed out that Trump is aware that sanctions are detrimental for the people who have elected him. So, he won’t push too hard to get more sanctions.

    • DominicMEMBER

      The need for US dollars (to meet service costs on al that debt) is massive – that’s the mythical ‘shortage’ that everyone rabbits on about. But the Fed is creating fresh dollars at a colossal rate – several trillion in the space of a couple months. The Fed balance sheet took nearly a hundred years to grow to just $890bn, for context.

      The forces employed against dollar strength are substantial. I suspect there’ll a lot of volatility as the Fed regulates its printing program.

      • – There is indeed a giant USD short position. The US stock & bond markets are the largest in the world. Anyone who is long USD denominated stocks, bonds is automatically short USD. So, when we see a MAJOR sell off in stocks & bonds then investors / speculators will sell their assets and buy USDs. hence the demand for USDs.
        – All commodities are priced in USD. (Never heard of the socalled PETRODOLLAR system ?). So, when we see a next giant sell off in commodities then we also will see a giant demand for USDs. Again, when one is long commoditities then one is also short USDs.

        • DominicMEMBER

          Oo-er, not this again. Willy, when you are long an asset denominated in US Dollars you are also long the dollar — in other words you have two exposures simultaneously. For example: Japanese investors are big buyers of USD assets (using leverage) but when there’s a risk-off situation, the Japs sell USD assets and take the dollar proceeds and sell those to buy Yen. That’s why the Yen always rallies versus the Dollar in a risk-off scenario.

          • – Nope. When one is short USD denominated assets (stocks, bonds, commodities !!!) then one is short USD.
            – It’s NOT only japanese investors but e.g. US, british & Canadian investors/speculators as well. they 1) borrow in Yen 2) Sell yen and buy e.g. AUD, USD or EUR denominated assets.
            – In a sell off these investors sell their assets (in AUD, USD or EUR) receive AUD, USD or EUR and then exchange those currencies for Yen. Hence the rising / strong yen in a sell off.
            – Didn’t you see what happened in 2008 & 2014 ? Oil (in USD) crashed and as a result the USD went ballistic / through the roof.

        • DominicMEMBER

          You just contradicted what you said: in the first paragraph you said that when you’re long an asset in USD you’re effectively short the USD and then in the next paragraph you said: when you’re short an asset in USD then you’re short the USD (which is correct of the two statements). The rest of what you said about the Yen carry trade is correct — but doesn’t contradict my contention about being long the currency of the asset in which you are long.

          Illustration: If I buy a US stock for $50 at a AUD/USD FX rate of 0.65 and then sell that stock a month later for $50 but convert the proceeds back to AUD at the prevailing FX rate of 0.75, then despite making no profit or loss on my stock position, I still record a loss on the currency leg of 13.3%. In other words, my long position in USD (short AUD) has cost me 13.3% on my investment. You can work this out for yourself.

          • – You are right. I wrote: “When one is short USD denominated assets (stocks, bonds, commodities !!!) then one is short USD.”. It should have been “When one is long USD denominated assets (stocks, bonds, commodities !!!) then one is short USD.

  6. Point BreakMEMBER

    I don’t know the specific mechanism by which civil wars begin, but the US appears to have all the necessary ingredients for one. One video on Zero Hedge’s twitter feed shows a shop keeper being beaten to death by a mob of black thugs.. Sickening. Little to no social distancing at protests/riots. They are primed for a second wave.

    • for a civil war to happen one needs to powerful elites be on the opposite sides … that’s what USA doesn’t have because all elites are on one side – NYSE side

      this is just circus for the plebs

      • BrentonMEMBER

        That’s one form of civil war, but probably the least likely form.

        You need a majority or significant minority that has long been oppressed; see the most recent example in the Middle East, where Syrian Shia elites were oppressing a poor Sunni majority. it may have since morphed, but that’s what 1st triggered the war.

        • People can be oppressed as much and as long they will not resist as long as there is no elite to led them into the resistance

      • Interested PartyMEMBER

        There will be no civil war in the US.
        The deplorables have guns, ammo, food, and a cold anger.
        The dems have biden, clinton, feelings, and twitter…..and more than half of MB readership.

        No contest.

  7. happy valleyMEMBER

    “He’s going to need something very big and distracting going to an election which will itself still be marred by an interminable virus fight.”

    Don’t wars always work a treat to distract the populace?

  8. scottb1978MEMBER

    General question here. The local shops that source their stock from China have reopened but have lots of empty shelves. Would that be more likely that China is having problems getting started or that local companies can’t risk fully restocking if demand isn’t there.

    • In China as well as elsewhere about 20% of the economy is staying shut maybe forever. What makes it hard is the essentially random manner of the virus damage. Most will be down for very different reasons where there was a large infection which makes a gov. response hard to generate. Our losses will be on the consumption side.

    • DominicMEMBER

      Where, here? Empty shelves would be supply chain disruptions, nothing more. Only Govt policy can prevent shelves from being full. If the demand is there, the shelves will fill up.

    • Mining BoganMEMBER

      If it’s anything like ones I deal with they’re just emptying the shelves before closing the doors.

      • DominicMEMBER

        So, the ones that survive should make out like bandits ..

        Shows how tenuous the existence of so many small businesses really is. One brief setback and whammo!

        • 58% unemployment after what, seven weeks tells me the economy was not strong and structurally unsound.

        • Mining BoganMEMBER

          They’re the ones who suffered before the bushfires. Bank moved their branch away and another couple of foot traffic draws closed. Then the bushfires. It was all over before WuFlu.

    • Blottridesagain

      Getting stuff made, shipped and into store here takes anything from 4 to 12 months. Anyone ordering in the last 6 months will probably not get until August September. Big corporates with ‘off the shelf’ stuff may get a BIT more quickly.

  9. sydboy007MEMBER

    If Biden is what the DNC establishment are going to force on the electorate then Trump is pretty much guaranteed to win.

    I’d also argue that the DNC is responsible for Trump. You can’t show you despise half the country while pandering to every “minority” and tell white people to STFU and expect you’ll get voted back in.

    The walk away movement is growing, and the woke left keeps purity testing and excluding more and more people, a lot of them are realising the right int he USA aint that bad and that they can actually work with them.

    So far the majority in the USA do not blame trump for the slump due to the wuuflu, and after the pushback trump got on cutting of travel with China the DNC is a bit on the back foot.

    IF authorities can stop sending wuufluu elderly back into nursing homes the death toll will likely fall. If you’d under 65, not fat or got some underlying health issue then the risk looks to be not much higher than a bad flu season.

    • I still can’t believe they chose Biden. Nice guy, but, let’s face it, he’s going senile. The others all fell over at the South Carolina Primary. I bet Buttigieg, Klobuchar and Bloomberg are all sitting in their basements right now thinking to themselves: “If only I’d been nicer to black people, I’d be on my way to the White House right now…”.

      • Blottridesagain

        In the end they had to choose Biden or Sanders. They couldn’t have Sanders. So….it was easy. Back Biden who is obviously borderline mentally ill. Wait a little while for that to become obvious. Then hoocoodanode? Biden can’t run because of ill health so we parachute in someone chosen by the Democrat elite Deep State Democrat.
        They’ve tried ‘regime change’ everywhere else in the world for anyone who doesn’t suit them- why not in the US itself?

      • Charles MartinMEMBER

        Biden is not a nice guy. He’s as big a cvnt as any of them.
        “Look at my record man”. People are starting to look closer at Joes record and it’s nothing to brag about especially when it comes to the black community.

    • Nobody seems to look at the per capita numbers whether in absolute or excess death terms.
      If they do they will see the USA is still much better off than most of Western Europe.
      For some reason comparing a country of 330 million people directly with a country of 60 million is a valid direct comparison.
      It is very strange and far from insightful.

      • Yes, I agree that deaths per million is the only meaningful comparison. But, you either have to compare the whole of Europe to the whole of USA (in which case the death rate is probably about the same), or you compare individual European countries like Italy, UK, Germany to individual states like New York, Florida, California (in which case you find that some have fared well and some rather poorly).

      • I bet lots of Americans died without ever being tested or going to hospital, because Americans don’t go to hospital because of bills. Not a problem in, I think, all of Western Europe.

    • DominicMEMBER

      As long as stock buybacks, funded by Fed funny money, are possible, the S&P will rally.

        • DominicMEMBER

          You’re right Peach, the ammo is plentiful — however, it’s not infinite 🙁

          … as the good people of Weimar, Venezuela, Zimbabwe (and a host of other countries) have found out over the years.

          • Blottridesagain

            Which one is the world reserve currency? Not denying your take on things but MAINSTREAM bankers, media, govt, FED, Skippy, Bill Barnacle, Mosler, all believe that the supply is infinite. So it is until it isn’t! When????????

          • DominicMEMBER

            Just because the USD is the world’s reserve currency doesn’t mean it’s excused from the laws of economics.

            Fiat currencies are a confidence trick — nothing more. This will end when users lose confidence, when people who make real, scarce goods say: I’m not accepting that worthless confetti in exchange for my valuable goods. It’s that simple. When? Who knows, but the more they print the closer the day comes ..

          • Blottridesagain

            Laws of Economics???? Yours and mine or Ben Bernanke et al’s
            The Laws of Economics operating at the moment are ‘we can print our currency forever with no negative consequences’ It is only just beginning. Note that almost ALL economic principles developed in recent decades have come out of the US and they ALL believe they can print forever. Thanks to stupidity and unreality the MMT lot are about to gain ascendancy.
            Yes the question is when??? It sure is. We’re on the same page obviously but the economic garbage truck has a long way to run yet picking up more and more garbage. It will be overloaded one day and the wheels will fall off.
            I guess the big danger is that China Russia and Germany aren’t reading the US textbooks. The rest swallow them wholeheartedly OR realise that there is no way to turn back – onward forever!!

          • DominicMEMBER

            I wouldn’t worry yourself too much, blotto, MMT is just a natural outgrowth of a failing fiat currency – they all go through it before expiring. People think / hope it will be different this time, but it won’t. I give it five years, max.

  10. Chairman MeowMEMBER

    What a beautiful time to be alive especially as Ita Buttroses ABC is butthurt that, “In countries with authoritarian governments, state-controlled media have been highlighting the chaos and violence of the US demonstrations, in part to undermine American officials’ criticism of their own nations.”
    Just a matter of time before they pick up this too,
    “With just about everybody but the rioters themselves getting the blame, Susan Rice – former National Security Advisor to President Barack Obama – chimed in with a tried and true villain: Russia.

    “I would bet,” she told CNN’s Wolf Blitzer on Sunday, “this is right out of the Russian playbook.””~RT

    • Blottridesagain

      I wish someone would ask Obama, Clinton Rice et al exactly how they thought they were going to win the nuclear war they wanted with Russia.

      • Chairman MeowMEMBER

        For them, as for the West in general its like 1944/45 in Europe and the attitude of a lot of Germans/anti communists, there is to be absolutely no doubting the “final victory/end of history”. Logic is for pinko, commie, lefties

    • DominicMEMBER

      Of course it was Russia – who else? The Democraps just won’t shut up about it. Sad.

      • Chairman MeowMEMBER

        It took the Dems less time than I expected them to take to blow this opportunity

  11. Interested PartyMEMBER

    My quick search for statements by Pelosi & Schumer condemning the violence, rioting, looting & arson finds nothing. As best I can tell, not a word. Their silence is shockingly irresponsible. Biden’s staff is donating to a group that funds the release of rioters. Unbelievable.

    Many “celebs” have been donating to a go-fund-me to bail out rioters. That should say all you need to know.
    And attempt to pin it on Trump.

    Take down Trump……at all costs. America is collateral damage.
    It will be a troubled pathway to the November election.

    Side note………Antifa are now designated as a terrorist organisation.
    Now to utilise the existing legal structure that is available to take control in the Dem managed states/cities. The Governors in most of them issued stand-down orders to LEO’s pre-riot to allow maximum damage and optics. The population has now seen enough of the intent and corrupt behaviour that resides in these places.

  12. Hey DLS, just a point of order – I might be wrong, but isn’t herd immunity related to vaccination?

    I think you mean natural immunity? (Two very different things, as I understand it.)