The last five days of trading saw the Dow Jones Industrial Average drop to the lowest point in two months.
We had a drop of 2.2% in the Dow.
That is no correction, but it does get some attention.
It appears that the Chinese government is not through regulating and reigning in big corporations and the fear of such is sending stocks such as Alibaba into further retreat.
If that wasn’t enough, the most recent news out of Washington DC is that tax increases are coming to cover some of the increase in spending.
There is talk of raising the corporate tax rate to over 26% and moving the capital gains rate up to 25%.
Moreover, the real target is going to be on taxing those making more than $400,000 each year.
This is all expected as one cannot pay for all these trillions of dollars of spending.
If that wasn’t enough, you have the need to increase the debt ceiling or our nation could be in default.
It is hard to believe that Congress would allow this to happen but these are strange times.
Speaking of such, I would like to offer an alternative plan should we ever happen onto these very grounds again. I tend to look at things economically before socially.
I am not saying that is the correct thing to do but it is how evaluate almost everything.
As such, I would suggest that the vaccines should have been administered first to those that are the workers in this country along with the young.
I am a baby boomer and understand taking care of those who are infirmed. It seemed to me that my fellow old folk are the ones that can isolate the easiest.
We have historically protected the women and children first. Socially, I totally understand trying to protect the most venerable. In hindsight however, this came at a significant economic cost.
I doubt we would do anything different in the future, but I just thought it was merited some thought.
If all this wasn’t enough, we have yet another hurricane headed in our direction impacting the Texas gulf coast.
I was just getting to enjoy the cooler morning temperatures, hunting season and the ability to attend local high school football games.
Mother Nature keeps us on our toes.
Locally, we are dealing with the possible impact of what I would call price gouging from gas suppliers to the electric generators.
Just when I thought I could turn the AC down, we face the reality of having to pay off over the next several years bills for a week’s period that are three times the annual bill.
