Long, Strange Trip
What a year. First, I'll admit straight out of the gate I was wrong about having a vaccine in Q1. The lab folks pulled a minor miracle, and we have several. I was still right about other things, though: 1) We're at the end of Q1 and have barely made a dent on the number of people vaccinated, 2) there is no end in sight for the mess the economy is in regardless of what the stock market is doing, and 3) always verify claims of expertise.
And of course we have had plenty of messes so far this year. Our worst was 6 January. It shouldn't have come as a surprise to anyone, but you must remember that people in general and Americans in particular don't like to notice warning signs. Everybody was surprised by 9/11 even though everyone knew you could fly a plane into a building without much trouble. Everyone was surprised by the 2008 recession even though everyone knew what goes up must come down (and had with a vengeance just eight years earlier). Everyone was surprised by the pandemic even though everyone knows viruses are out there constantly reinventing themselves. If you refuse to see what's right in front of you, expect to be punched in the nose. A lot.
Labels: decline, infrastructure, markets, recession
posted by Knute Rife @ 6:37 PM
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