Here is reality: Nasdaq closes higher Monday to notch longest winning streak since January https://www.cnbc.com/2023/11/05/stock-market-today-live-updates.html
AMEN. New Cato Study Confirms Fed Cannot Control Inflation https://www.cato.org/blog/new-cato-cmfa-study-confirms-fed-ineffective-controlling-inflation (BOLD is my opinion OR what I consider important content) "Research by Cato’s Center for Monetary and Financial Alternatives (CMFA) shows that there is not much empirical support for the notion that the Fed can precisely control inflation. Earlier this year, Cato published a paper that suggested monetary policy was the least important contributor to inflation, far behind both demand and supply factors in the economy. However, that paper used a simple approach (known as a VAR methodology) to study the sources of inflation. Cato CMFA’s newest research paper addresses this weakness and provides more robust evidence that the Fed cannot precisely control inflation. Unlike the previous approach, the new working paper uses a sophisticated macroeconomic model, one that includes a variety of features to capture facets of the US economy accurately. The results are very similar to the first study—supply factors dominate the overall changes in inflation, both when looking ahead at inflation forecasts and when analyzing actual inflation in the US since 1960. Figure 1: Main Driving Forces of US Core PCE Inflation, 1960 to 2019 As Figure 1 shows, from 1960 to 2019, monetary policy has had a limited impact on inflation, increasing with the horizon of the forecast but never exceeding 5 percent. Supply factors— particularly goods market supply factors in the short run and labor market wage factors in the long run—affect most of inflation. Supply factors together account for 85 percent to 90 percent of inflation. As Cato scholars have pointed out for decades, monetary policy is particularly helpless in the face of supply‐driven inflation. The maximum effect the report finds is Fed policy contributing 10 percent to inflation. And this finding applies only to the post‐financial crisis period and only at a very long forecast horizon. Conversely, monetary policy has a more significant influence on economic output, determining over 20 percent of its variation in the post‐financial crisis period. This finding implies that while the Federal Reserve’s actions have minimal effects on inflation, they could lead to more substantial recessions. Figure 2: Decomposition of Historical Annualized US Core PCE Inflation, 1960 to 2019. When analyzing US inflation from 1960 to 2019 (see Figure 2), a breakdown into its principal shocks largely confirms established accounts of modern US history: namely, goods prices (presumably through oil prices) and labor supply shocks caused high inflation in the 1970s, and investment shocks significantly influenced inflation following the financial crisis. The analysis confirms that monetary policy has had a limited impact and that inflation has predominantly been a supply‐side story. Conclusions from this analysis are consistent with CMFA’s recommendations throughout the post‐COVID inflationary spiral—contrary to conventional wisdom, people should stop looking solely to the Fed to actively manage the economy. At best, such active management will be ineffective, at worst it will be ineffective and crash labor or credit markets. The CMFA’s prior article claimed, “Anti‐inflationary policies necessitate a holistic approach and cannot merely rely on timely changes to the Fed’s policy rate.” The new analysis presented here confirms this recommendation with even more robust evidence. For a detailed analysis, please see the Cato CMFA working paper." MY COMMENT YES.....the FED is a big unfortunate joke on the American people. What makes it worse is the fact that the morons think they actually have some control over the economy. Basically most of the social science of Economics as practiced by all the government employed fools.....is worthless. Of course being a billion dollar industry....the truth does not matter. Their odds of actually being successful are destroyed by their refusal to see reality. A perfect example is the baseless 2% inflation target they constantly spout.
On the same topic. No Need for Radical Ideas: Wages Still Don’t Drive Inflation https://www.fisherinvestments.com/e...adical-ideas-wages-still-dont-drive-inflation
This is simply INSANITY. Stock futures dip as Fed rate hopes dim https://finance.yahoo.com/news/stoc...ures-dip-as-fed-rate-hopes-dim-113349185.html (BOLD is my opinion OR what I consider important content) "Stock futures on Wall Street slipped amid the year's best rally as confidence fades that the Federal Reserve won't hike interest rates again this year. Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) futures were both down around 0.3%, poised to lose hold of a notable stretch of gains. Futures on the tech-heavy Nasdaq 100 (^NDX) fell over 0.2% Signs of a weaker US economy suggested to the market that the Fed could ease up on its tightening campaign. But investors were reassessing those hopes after Minneapolis Fed President Neel Kashkari said on Monday the central bank likely has more work ahead of it to control inflation. "There was quite a bit of euphoria at the end of last week on the belief that the Fed is done, the jobs market is slowing, that the US economy is going to experience a soft landing," said Michael Hewson, chief market analyst at CMC Markets UK, told Reuters. "People have started to become a bit more clear eyed. There is the risk that the Fed could rise again." Investors will listen out for hints to policymakers' thinking when the heads of the Kansas City and Dallas Feds speak on Tuesday, an then when Chair Jerome Powell steps up later in the week. The fresh Fed doubts clouded the outlook for oil, helping push WTI crude prices below $80 a barrel for the first time in over two months despite the prospect of Saudi and Russian supply cuts. West Texas Intermediate crude futures (CL=F) and Brent crude futures (BZ=F) both sank almost 2%, to $79.30 and $83.52 a barrel respectively. Also dragging on oil was trade data showing China's drop in exports unexpectedly accelerated in October, a sign of flagging overseas demand, while its imports rose. But there was a bright spot for the world's second-biggest economy as the IMF upgraded its GDP growth forecasts for the country this year and next. In corporate news, WeWork (WE) on Monday filed for bankruptcy after the once most valuable US startup grappled with expensive leases. Its shares have fallen about 98% this year. Meanwhile, earnings season continues with reports from Uber (UBER) and Rivian (RIVN) on Tuesday's docket, ahead of the closely watched Disney (DIS) results due Wednesday." MY COMMENT I dont believe the guts of this article in the slightest. I dont think investors are that stupid. My view is that the primary content of this article is BS that is being pushed today by the FED in advance of their media assault today. On the other hand if this is true....and "investors" have done a total flip today from their thinking last week......than these people are NOT investors. They may be market manipulators, they may be lemmings, they may be AI big bank traders, they may simply be idiots.....but they do not represent any sort of actual investor thinking. I dont know anyone of any sort of investing style.....that jumps around like this article implies.
Disregarding the above....I still say there is a good probability that the markets will end the day today in the green. The averages are currently open and in the red....slightly.
Here is the first wave of the FED media assault today. Actually not bad. Fed’s Goolsbee says ‘golden path’ of a huge drop in inflation without a recession is still possible https://www.cnbc.com/2023/11/07/fed...on-without-a-recession-is-still-possible.html "Key Points Chicago Fed President Austan Goolsbee believes there is still a chance for a soft landing. “Because of some of the strangeness of this moment, there is the possibility of the golden path ... that we got inflation down without a recession,” he said. The Fed President said the central bank will be data dependent going forward." MY COMMENT There is really nothing new the FED can do or say. People may refuse to see it....but the power of the FED is done for now. Any tough talk is just that....talk. If investors REFUSE to give them any power than their talk will be meaningless. In reality I dont believe any little investors give the FED much thought or take action with their holdings based on what the FED is doing. All this focus on the FED is coming from the big banks and big investors....using the FED fear mongering to drive their short term trading profits.
Here is what might have some ability to actually drive the short term markets today. 10-year Treasury yield falls as investors consider state of U.S. economy https://www.cnbc.com/2023/11/07/us-treasury-yields-investors-consider-state-of-the-economy.html MY COMMENT As a long term investor I dont invest according to this "stuff". I want to see and invest based on business fundamentals. After all....I own a business......not the general economy. BUT......the FACT that the Ten Year yield is down is a good positive indicator for the markets today and what is actually thought about the FED.
You know, I was thinking and looking back a bit this morning about some of the "fortune tellers" and media headlines over the past year or so and even the past few months. It really is almost laughable when you look at some of it. It ranged anywhere from financial calamity and a bazillion predictions about the FED. The amount of time and headlines devoted to the henny penny narrative is almost astounding. Think about it. We should be surrounded by nothing but embers of what once was by this point. It is emotional sensationalism being disguised as journalism. That actually may be too much credit. We often see them refer to "investors" are doing this, bracing for that, running here, jumping there...and on and on. I really can't imagine one operating their long term financial plan based off of anything in the financial media with any significance. I noticed a little article this morning about how the markets can now focus on earnings. My first thought was....well, you are late to the party by several seasons actually. I had to read it. Of course, there was really little if any substance to it. In fact, very little about anything earnings wise. It focused a bit on how companies are preparing for the impending recession and back to predictions about the FED. A total dud of an article. My point is as usual. Take this stuff in small doses and realize they are simply filling air space with most of it. If they knew all they proclaim to know....we would all be living on easy street. We would have the greatest insight into every detail and all of the answers would be known. We could anticipate it all. Doesn't that sound impossible? Yet, the headlines are filled with it everyday. What is really happening is they are continually moving the goalposts hoping they will at least hit it right on a few things along the way.
Here is a good example from one of the posts above. Just a few days prior it was exactly the opposite of this. The media was all clamoring about anticipation the FED was done. There were several little headlines about it on those nice green days. Now, only hours later, it is a flip- flop. We as rational investors, are saturated with dumb information. Seriously, if you look through it and compare it over a period of time, it is some of the most short sighted, pearl clutching, pants pissers information available. From a long term investing perspective....it is the perfect plan to ruin your financial goals and end up with an investment portfolio of dismal returns. It is a perfect example of why investors and active management continue to get beat soundly over the long run by an average index like the SP 500.
A page or two back, WXYZ brought up a good point about fees, distributions, and selecting funds I am a little late on this post made the other day by WXYZ, but it is a good point brought up by him. I wanted to elaborate on it a bit and expand on it a touch further. I figure many of the posters on here are already aware of it due to being an investor for a long period of time, but there may be new investors or even those lurking still finding their own way. Starting out, the prospectus of any fund is your friend. It will tell you what you need to know before jumping in. There are a ton of funds out there today. You can focus on very specific things or hold a broad index. The choices are unlimited. Always, always look at the fees associated with it and as mentioned above 12b-1 and the costs of having the fund. So many times they like to put up nice charts showing how well they are doing or beating this index or other fund. Fees and costs are going to get into your money. If the fund is successful and it does grow your money.....that sounds great, but those fees are going to compound along with it. Sometimes those fees appear not to be much as you start out, but over time it will take a toll on what you have. Fees have come down considerably over the years and the competition has helped drive the costs down, but there are still many, many funds out there that will eat up a considerable amount of money over time. In the end, you may not really be gaining anything. You may think, well this particular fund is beating the index, but by the time you deduct management fees and year end distributions...likely not. Then as considerable time goes by, it continues to eat away at your net worth as it grows. So, pay attention and look at those fees and where you place those funds.
Good stuff Smokie. It is nice that he markets are NOT following the daily "wisdom" that is being spouted today. In fact I have as good a gain going today as any of the past five positive days. I have a single stock in the red today....HON. The RALLY continues. In fact the RALLY and BULL MARKET has been happening since last JULY. Refusing to see and believe what is happening.....does not negate the fact that it is happening. This is one HUGE benefit for long term investors. They have the benefit of long term vision. Kind of like Superman's x-ray vision.....but better for investors. Having long term vision gives you RATIONAL focus on the reality of the markets. It washes away the foolish short term commentary.
Speaking of long term vision. The year is quickly winding down to a close. I always think it is a good idea to take a review of the year as it relates to your plan. Even if it is only once a year or whatever schedule you want to put on it. Keeps us focused on the important things. Take the time to do an evaluation of what you are doing and why you are doing it. Maybe you want to simplify things. Maybe you want to add to some positions or even reduce some holdings. It could be lining up things to prepare for an upcoming retirement, planning to purchase a home somewhere down the road, or maybe it is time to set up for those little ones who will be attending college sooner than you realize. Whatever it is....incorporate those things into your plan and setup a roadmap to get there. Once you get it in place, pick a time to revisit it and make updates and changes when needed. It doesn't have to be an overly complex task. It is all about working towards those goals and being able to give yourself the time to evaluate and make sound decisions. We so often think about things down the road and before you know it....that "thing" is now upon us.
I just got back from doing our big monthly shop. It was even worse today because it included Thanksgiving and a little bit of Christmas. Of course we are always the host at Thanksgiving and most of the time at Christmas. I was happy to see that the markets produced some nice gains while I was gone today. I ended up with another day.......seven in a row.....of good gains in my account. I had only one down stock.....HON. I also got in a good beat on the SP500 by 0.55% today.
This is not what was being said this morning. Stocks extend win streak as investors cling to Fed rate excitement https://finance.yahoo.com/news/stoc...s-cling-to-fed-rate-excitement-113349115.html (BOLD is my opinion OR what I consider important content) "Stocks continued their hot streak Tuesday, extending gains for the seventh straight session as renewed confidence in the Federal Reserve ending its tightening campaign this year lifted investors. The tech-heavy Nasdaq Composite (^IXIC) rose 0.9%, continuing its own win streak, while the benchmark S&P 500 (^GSPC) edged up by nearly 0.3%. The Dow Jones Industrial Average (^DJI) increased by nearly 0.2% or close to 60 points. Recent signs of a weaker US economy signaled to the market that the Fed could ease up on its rate hikes. But central bankers have said that the door is still open to additional increases, even if officials decide to pause for a time. And while the market's momentum has swung to a more optimistic reading, investors have plenty of cautious voices to check their exuberance, including Minneapolis Fed President Neel Kashkari, who emphasized both Monday and Tuesday that the central bank likely has more work ahead of it to control inflation. Kashkari was one of several more hawkish members of the Fed to express caution on Tuesday. Meanwhile, Chair Jerome Powell is set to speak later in the week. "There was quite a bit of euphoria at the end of last week on the belief that the Fed is done, the jobs market is slowing, that the US economy is going to experience a soft landing," Michael Hewson, chief market analyst at CMC Markets UK, told Reuters. "People have started to become a bit more clear-eyed. There is the risk that the Fed could rise again." The fresh Fed doubts clouded the outlook for oil, helping push WTI crude prices below $80 a barrel for the first time in over two months despite the prospect of Saudi and Russian supply cuts. West Texas Intermediate crude futures (CL=F) and Brent crude futures (BZ=F) both sank 4%, to $77.48 and $81.76 a barrel, respectively. Also dragging on oil was trade data showing China's drop in exports unexpectedly accelerated in October, a sign of flagging overseas demand, while its imports rose. But there was a bright spot for the world's second-biggest economy, as the IMF upgraded its GDP growth forecasts for the country this year and next. In corporate news, WeWork (WE) on Monday filed for bankruptcy after the once most valuable US startup grappled with expensive leases. Its shares have fallen about 98% this year. Meanwhile, earnings season continues with reports from Uber (UBER) and Rivian (RIVN) highlighting Tuesday's docket, ahead of the closely watched Disney (DIS) results due Wednesday." MY COMMENT NOTHING....has changed from this morning other than the fact that the markets died not do what they anticipated. Another positive....oil is going down. Yes...it is always transitory when it goes up and is rarely a long term issue. BUT....it makes a great fear mongering topic. The FED....well the markets today said.....so what. Today is a perfect example of the skittish and and made up daily BS that is thrown out there in some sort of attempt to sound educated about investing or to impact the short term markets....or....both.
YEP....as Smokie said....I will be doing my little bit of year end analysis and record keeping soon. My entire stock data is......writing down the results for my two funds at the end of each year.....SP500 Index Fund and Fidelity Contra Fund. I also note whether each fund beat the SP500 and if each fund beat my goal of 10% gain per year long term. That is the extent of my data that I keep. I have this going back for about 25 years. Before that is in the trash. I am not big on busy work record keeping. As to my two brokerage accounts......I simply look at the yearly result and note it in this thread. There is no need to record any other data since I can pull up my performance on Schwab whenever I want. With eight stocks and two funds....my analysis is very simple and easy. I would like to have at least 10 stocks. I like to be between about 10-15 stocks. But, I dont see anything that fits my criteria and is tempting me to add it at the moment. My criteria......BIG CAP, AMERICAN, DOMINANT, ICONIC PRODUCT, WORLD WIDE MARKETING, DIVIDEND PAYING, companies. I want to own only the BEST of the BEST. I went through the top 100 names in the SP500 about 2-3 months ago and did not see anything that I might want to add.
A nice day for owners of MSFT. it was not long ago that the markets were disrespecting MSFT. Microsoft closes at all-time high on fresh OpenAI-related optimism https://www.cnbc.com/2023/11/07/mic...me-high-on-fresh-openai-related-optimism.html (BOLD is my opinion ORR what I consider important content) "Key Points Microsoft shares closed up for the eighth day in a row, a feat not performed since January 2021. Analysts pointed to benefits stemming from updates at strategic partner OpenAI that were announced Monday. Microsoft ended Tuesday’s trading session at a record high of $360.53, following fresh optimism about growth from a key partner in artificial intelligence. The 1.12% daily increase gives the software maker a market value of about $2.68 trillion. The major U.S. indices all posted gains for the day, with the S&P 500 notching its seventh-consecutive rise, while Microsoft delivered its eighth. The stock hadn’t been on such a streak since January 2021. At an event in San Francisco on Monday, Microsoft’s strategic AI partner, OpenAI, announced a slew of updates, including price cuts and plans to allow people to make custom versions of the ChatGPT chatbot. Microsoft CEO Satya Nadella was on hand for the affair, and he emphasized that developers building applications with OpenAI’s tools could get to market quickly by deploying their software on Microsoft’s Azure cloud infrastructure. Microsoft has invested a reported $13 billion in OpenAI, which has granted Microsoft an exclusive license on OpenAI’s GPT-4 large language model that can generate human-like prose in response to a few words of text. Last week, Microsoft announced the release of an AI add-on for its Office productivity app subscriptions and an assistant in Windows 11, both of which rely on OpenAI models. “What is good for OpenAI is good for Azure in our view,” UBS analysts led by Karl Keirstead wrote in a note distributed to clients Monday. “If OpenAI is now actively courting software developers to build apps using ChatGPT/GPT-4, lowering price points and improving model performance, it could drive greater OpenAI consumption of Azure and serve as a modest positive for Microsoft.” The analysts have a buy rating on Microsoft stock. Oppenheimer analysts, with the equivalent of a buy rating, said OpenAI’s price updates confirm OpenAI’s status as the category leader. When OpenAI succeeds, it’s “mutually synergistic” for Microsoft, they wrote. Microsoft said in a regulatory filing in October that OpenAI is its “strategic partner” on AI. Also on Tuesday, cloud monitoring software maker Datadog indicated to investors that its clients are starting to ease up on cost-saving projects. Datadog can monitor infrastructure in Azure and other public clouds, such as Amazon Web Services. Amazon ended the day up 2.13% but has yet to exceed its record close from July 2021." MY COMMENT Good news for owners of MSFT. One of my BIG CAP....MARKET MONSTER....stocks. Things are lining up for a very.....Holiday Themed.....close to the year. I hate to be early but I believe I can very faintly hear the sound of reindeer bells. No guarantees.....but it seems like people are ready for a little good cheer. Time to ditch the extreme negativity and move on to reality.
I'm not sure how we CAN control inflation? What would happen if we tell the Fed to just keep interest rates artificially low forever, keep printing huge amounts of money that isn't backed up by any real or tangible assets and ask Congress to keep spending money and going deeper in debt, like there's no tomorrow? Would that work? Now that I think about it - there really MUST BE NO TOMORROW! If there were, 80%+ of the stupid decisions that leaders are making the world over would: 1. not be made 2. would result in huge public outcry and backlash. Most non-totalitarian leaders would be removed from power. Or, maybe most people just aren't paying attention?
Does the open today look familiar? It should...it is basically what we have been seeing for the past week and a half now. It is nice to have a break from the.....breathless......headlines and fear mongering. We have seen what the markets would be like if all this "stuff"......that is really not relevant......was not in the way. The good news is that I see most of the month of November as being free of all the BS. It should be a good month for the actual markets to assert themselves.
On the same topic. Why markets should 'cheer' the bullish return of economic normality https://www.thenationalnews.com/bus...heer-the-bullish-return-of-economic-normalcy/ (BOLD is my opinion OR what I consider important content) "Remember when all anyone wanted was a return to their lives pre-Covid? Talking heads were sure it wasn’t coming. They claimed supply chains, travel and spending patterns had been forever changed. Even handshakes were supposedly gone. Now? Economic normalcy has sneakily returned … yet pundits see danger in the old normal they once craved. “Fear” – false evidence appearing real – reigns. Don’t fall prey to it. The return to normalcy is hugely bullish – more so because few see it. Ditch “fear” and instead “cheer”– celebrate hidden examples of equilibrium’s return. Yes, the Covid-19 shutdowns wreaked economic havoc and accelerated some real change. They turbocharged the rise of online commerce and food delivery services. Work from home, too – which may never fully revert to full-time office work. Yes, that creates uncertainty for commercial real estate. But it also potentially reduces most companies’ long-term property costs. Yet, many of the stressors that people feared were permanent have fully faded. Take the supply chain chaos. In May, the New York Federal Reserve’s Global Supply Chain Pressure Index tied the lowest level of stress on record since 1998. It remains below average now. The Institute for Supply Management’s data supports this. Its gauge of US manufacturing supplier delivery times improved for the 13th straight month in October – far off May 2021’s nosebleed levels, which were the highest since 1973. “Just-in-time” manufacturing is returning, supplanting the “just-in-case” Covid mindset that drove inventory gluts and other inefficiencies. Cheer! Lines of ships outside major ports have largely vanished. US West Coast Covid-era port back-ups ended in late 2022. More shipping shifted to the East Coast – a classic, quick free-market adaptation. Los Angeles’s summer union strike hiccups are settled, too. While headlines lament drought-reducing Panama Canal daily crossings, they are temporary and ignore that back-ups there have been thinning dramatically since summer. These – plus the US Federal Reserve ending its insane monetary response to Covid-19 – slammed the brakes on inflation. “Cheer” it all! And more? Travel! Recall tales of holidays forever replaced by staycations and video conferencing killing business trips? Didn’t happen. Through October, year-to-date US Transportation Security Administration volume topped 2019’s comparable tally. Dubai welcomed record numbers of international overnight visitors in the first half of this year. The global business travel industry finds corporate travel spending accelerating above expectations. It should top pre-Covid levels next year. Surveys show restaurant dining and industry employment are back to pre-Covid levels. Surpassing pre-Covid heights doesn’t mean rejoining prior trendlines (levels that activity might have reached if Covid shutdowns hadn’t happened). But it proves wrong all scary claims of paradigm shifts. “Cheer”-y! Bears morph other “old normal” milestones into outright negatives – classic Pessimism of Disbelief. Take “plunging” personal savings rates. Many argue they reveal a tapped-out consumer. No. Look deeper. Yes, US personal savings peaked at a bloated 26.1 per cent of disposable income in March 2021, dwarfing today’s 3.4 per cent. But lockdown-era savings spikes were hugely anomalous – Uncle Sam dished out “stimulus” payments while lockdowns limited options to spend them. From 2000 to 2019, the average US personal savings rate was 5.2 per cent. It lagged that mark across various prosperous stretches. During the 2002 to 2007 bull market, it averaged 4 per cent. Today’s rates are only a smidge lower – understandable, given consumers built big cash cushions during the pandemic. Another nugget of normalcy. Trillion-dollar US credit card debt? Another return to the pre-pandemic norms. The “T word” sounds scary, but next to deposit levels and gross domestic product, it is tiny. Delinquency rates remain low amidst rising incomes. More to “Cheer”! Contracting money supply? Bears fret the US M4 – the broadest monetary measure – shrinking since December. Normally, this might be bad. But pandemic-era monetary madness wasn’t normal. For example, the Fed spewed open the monetary firehoses – M4 growth topped 30 per cent year-on-year in mid-2020 – while lockdowns restricted businesses. Some would say that was boneheaded and idiotic as it spurred rampant inflation. A tiny M4 pullback – down 1.7 per cent year on year through to September – signals sanity’s return. A roaring “Cheer”! China? Headlines herald impending doom, most recently harping on slowing manufacturing and construction. Reality? Third-quarter gross domestic product grew 4.9 per cent and analysts still expect 5.1 per cent growth in 2023. Approximate normalcy. In 2019, China grew 5.9 per cent, continuing a long, natural slowdown as its super big economy matured. This year it merely rejoins that old trendline. And, by the way, even the Chinese are shaking hands these days. “Cheer” it! One big difference remains: Interest rates. But fundamental forces like slowing inflation suggest they won’t soar from here. Maybe we won’t see the super-low levels of 2008 to the 2020s. Fine. Stocks and economies have risen along with comparable rates through most of history. No period is perfect. The 2019 everyone yearned for had weak spots, too. But markets don’t need perfection. They are fine with the stability of “normal”. “Cheer” its return." MY COMMENT YES.....this is the great unspoken story.....the pandemic recovery is pretty much complete now......finally. It took longer than I expected.....but we are basically back to normal now. Hopefully we will never do something like th economic shut- down again........insanity.
