Just a little note today to say that I’m sorry I missed the birthday yesterday of the stimulus package that saved our economy last year. Just because I missed it doesn’t mean I don’t love it, or want to blow up a couple of balloons in its honor. Certainly there were a host of people yesterday popping champagne corks or, if they were sitting on the right flank, trying to rewrite history to poop on the parade.
I’m not an economist, so I think I’m allowed to articulate a sentient position: I think things are better since 1) the stimulus stimulated stuff and 2) firms that were about to go under beneath the tide were bailed out. And if there needs to be more stimulus and more bailouts, I’m all for them. I like it when sales pacings are up in the double digits. I like it when we’re not all trying to spit into a fierce headwind. If we’re all cooking up some kind of disaster that’s going to hit us in 2020, I’ll tell you what, I don’t really give a damn. The market operates quarter by quarter. Why shouldn’t we?
Today’s Wall Street Journal has a headline that I believe says it all: FACTORIES GET SET TO HIRE. I want all of you to fire up your browser and see what headlines were available this time last year. Okay?