The 7-day average of UK COVID cases (orange) is above 50k for the first time since January, and daily cases (bars) continue to spike.
6/10
Relative vaccination rates between the US and UK.
The UK is already way ahead of the US.
7/10
Again, when cases rise, politicians panic and restrict the economy.
Hospitalizations, recoveries, and treatments matter, but POLICY is made by panicky politicians over rising case counts, like the panicky politician that is going to speak from #10 Downing in about 2 hours.
8/10
In the US we can say "people have had it with restrictions" and "we are not going to be like this."
But if the US follows Europe, as this chart suggests, watch how fast and furious the restrictions will come here.
Easy to say no restrictions will happen before the spike.
9/10
Keep in mind the cases rise in the UK is Delta, Omicron is still to come.
So, Boris will increase access to boosters and beg everyone to get a shot. And even if they do and cases still spike to near 100k/day, when Omicron comes, then what does he do?
This is my fear.
10/10
Biden will be no different, we are just further down the curve than the UK.
But when we get to where the UK is now, we will do the same things, so watch what they do in the coming weeks as it is a window to what is coming in the US.
Not what I want, it is what I fear.
Look at the responses!
Many are not reading it, giving emotional reactions. Others have "just decided" that no matter how high cases go, nothing will change.
I hope this is what happens. I do not want restrictions, by the last 22 months suggests this is wishful thinking.
Original Bloomberg headline:
*S. AFRICA DAILY COVID CASES AT 37,875, BREAKING PREVIOUS RECORD
But three hours later:
*CORRECT: SOUTH AFRICA DAILY COVID CASES 18,035
and
*SOUTH AFRICAN PRESIDENT TESTS POSITIVE FOR COVID: PRESIDENCY
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First, the idea of Magazine cover as contrarian indicators, and especially TIME PoY was developed by one of Wall Street's greatest thinkers, Paul Macrae Montgomery.
I was honored to call him a friend. @ritholtz remembrance in 2014
A follow-up to my post that US cases are about to rise a lot, following Europe, and politicians will panic and impose economic restrictions and foster slower growth and more inflation.
* BITCOIN PLUNGES MORE THAN 20% IN SATURDAY TRADING
As the chart below shows, BTC is still down about 11%.
If it closes here (midnight), this will be BTC's worst day since May and its fifth worst day in 2021.
2/6
BUT! ETH is only down 4.4% and it has seen 38 days worse than today.
3/6
BTC (red) has really lagged of late. It is way behind ETH (blue) and the overall market of coins (black).
In fact, BTC is now "only" up 26% YTD. The idea that BTC could lose money in 2021 is coming into the conversation.