Lamenting Congress and Dollar Flight

As the congress cretins prepare to promise another day's worth of "progress" on the continuing negotiations over the long-awaited COVID-related stimulus or relief package, your average American and intrepid investor (not the same) are getting a little bit tired of hearing the same line touted over and over again as it has been for many months.

There's been so much accumulated progress toward meaningful legislation to dole out money to the plebes and other, more financially-needy institutions that Americans should have already received the dough and spent it by now. Instead, the disinclination by congress to pass along a bit of taxpayer riches to the downtrodden and beleaguered middle and lower castes of folks has caused not a little bit of consternation and dilution of bank balances, credit facilities, piggy banks, and coins found in couch seats.

Millions are lining up at food banks because they can't afford to eat properly, yet the idiotic Democrats and resistant Republicans insist upon hammering out their differences over months of tiresome news bites and plain old incompetence. All of it is making for very bad theater and stressing the economy closer to a breaking point.

Meanwhile, anybody with money or significant assets has been literally heading for the hills, bugging out, getting away from cities and out of harm's way, not so much from CV-19, but from the mass hysteria that has taken place over the past nine months. The number one way to stay safe from pandemics and people is to get out of Dodge, as it were, and number two is to turn off the television and its preaching of utter nonsense, lies, propaganda, and the occasional sporting event (attended by few fans, which is a shame, and unnecessary).

Stocks continue to be purchased with appropriate reckless abandon, as though the binge-buying will never end. Some larger hedge funds and investment houses have opted for crypto-currencies, now that Bitcoin has surged to record levels and looks like an asset - and a currency - that cannot be undermined, manipulated, or controlled by governments or other nefarious folks.

For those with the head for it, Alasdair Macleod's latest offering at goldmoney.com is entitled, The Next Dollar Problem Has Just Arrived, citing flight from dollar-demoninated assets heading straight into stocks, gold, silver, and, especially, cryptocurrencies, like Bitcoin, Etherium, and others.

It's all getting just a little bit too much to bear as most Americans are so weary of the CV-19-related news, dubious government mandates and scare tactics, they've almost forgotten that the presidential election is still being contested and that Joe Biden may actually not have won the November 3rd contest, which, incidentally, was extended b some states counting votes as late as a week or more later.

Congress will almost certainly pass a short-term funding measure on Friday to keep the government operational at least until Tuesday of next week, prompting the obvious question: Is this any way to run a country?

It's not, and the political class should be ashamed of themselves, though we all know they won't be. They think they're doing some kind of public service, delivering a Christmas miracle, like the vaccines that half the country won't take.

It's enough to make one sick. Oh, wait...

At the CLose, Thursday, December 17, 2020:
Dow: 30,303.37, +148.83 (+0.49%)
NASDAQ: 12,764.75, +106.56 (+0.84%)
S&P 500: 3,722.48, +21.31 (+0.58%)
NYSE: 14,516.73, +107.80 (+0.75%)