New York Tough

• Some clarification on COVID and the current media coverage • How the result of “financialization” is to ignore capital investment, and how starving the economy of capital spending deprives it of future productivity • The stress of the stress tests! • The lost decade of gold is a powerful antidote to the strange argument that central bank abuses are bullish for gold. If the last decade wasn’t the golden era of central bank libertinism, I don’t know what was. And yet gold is just now trying to get back within striking distance of where it was ten years ago?? • A refresher on our friend, Illiquidity, and why behavioral finance drives the return premium in private market assets – a section that should get its own dedicated Dividend Cafe! • How good/bad is the economic “recovery” going? • And the secret sauce on how politics works in conjunction with markets … what we expect out of the next few months as various political scenarios play themselves out • The Chart of the Week looks at the three stages of the COVID era … Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com