It was a matter of when, not if, as the talking bobbleheads of financial huckster television kept saying that the vaccines would prevent bear markets from ever happening again. Who an forget the bald bull throwing dude proclaiming “happy days are here again” even as freedom was dying n America and overseas and selling would be banned like a diner without a mask in New York City.
Meanwhile in reality where actual economic activity is happening along with a Chinese Communist Party crackdown on rampant capitalism, the bears had a message for the hucksters:
In no time flat, the failures of the vaccines (more on that later today), the port congestion in China, production issues in Asia, and new regulatory structures due to Hong Kong’s elimination as a free beacon in a dark region of the world finally caught up to the few capitalists left at the Hang Seng as today it officially entered into a bear market.
With this market breaking down even further does it portend disaster for U.S. markets on the horizon? Probably. Because in September and October as the political circus returns to town to create even more global political and economic chaos. Meanwhile overseas, watch for European markets to begin pulling back hard and further disruption due to the failed China Virus policies globally.