Who has seen the wind? Neither I nor you.  

But when the leaves hang trembling, 

The wind is passing through. 

Who has seen the wind? Neither you nor I.  

But when the trees bow down their heads, 

The wind is passing by 

Christina Rossetti 

1 – The costliest economic aspects of the fight against Covid-19 were the most successful in reducing the spread and the death toll. 

2 – Lock everyone up and the spread stops.  

3 – Thus, the socio-economic characteristic of the flu dictate that to stop the spread the economy must suffer. 

4 – To date the “economic costs” are mostly being borne by the taxpayer. 

5 – No one really cares about the taxpayer because it’s a bill to be paid later.  

6 – Theoretically, the taxpayer can instruct the government to pay the bills by printing money. Better to print than to have it taken by tax.  

7 – Historically printing money ends badly. Too much of a good thing usually results in hangovers. Bad things start gradually and then spin out of control.  

8 – We never know when the music stops until it has. 

9 – The above strategy is being adopted to varying degrees everywhere in the world. 

10 – Right now, investors on balance have confidence the music will play for some time. 

11 – For the most part we are creatures of habit and increasingly want our daily habits back. 

12 – Collectively the votes are in and the present winners in the health vs the economy balance debate favor those who want the economy the way they are accustomed. 

13 – Habits, free money, necessity, selfishness, ignorance, optimism, it doesn’t matter. The decisions have been made.  

14 – The markets are presently voting approval.  

15 – The question to be voted upon next will be to what extent the flu affects the economy regardless of what the voters want.  

16 – The decision makers have set the sails and firmly set sail. 

17 – What the wind blows tomorrow or in November no one knows but we do know that the wind does blow.