Good morning.
The Seven-Second WorkoutWe just had to wait 90 years, but we finally did it.  We finally posted the best 100-day performance in nine decades.  What an accomplishment?  This rally has come at a huge cost to future growth potential as the economy is still waning.  One big takeaway from this is that the market isn’t as dependent on income and economic growth when the Fed can print trillions in a few months.

Now here’s the rest of the news:

This Aviation ETF Is Flying Blind
By Jim Pearce

If you don’t believe things are getting tough, consider this headline from June 26: “American Airlines, United Airlines move to allow full capacity flights.”  That was the same day the United States recorded its single biggest increase in cases of COVID-19 since the start of the coronavirus pandemic!
Despite mounting evidence that it is too soon to relax social distancing restrictions, these execs can’t afford to wait. They are only too willing to put you in the line of fire to save their bottom lines.
It appears the prediction made by Boeing (NYSE: BA) CEO David Calhoun during an interview with NBC on May 12 may be coming true.  In response to the question, “Do you think there might be a major U.S. carrier that just has to go out of business?” Calhoun replied, “Yes, most likely.”
At the time, Calhoun caught a lot of flak from industry insiders who felt he was biting the hand that feeds him.  After all, Boeing sells a lot of the jets it manufactures to those very same carriers.  (If anything, Calhoun may have been charitable in limiting the number of potential failures to only one.  When Calhoun made that statement, demand for domestic air travel had plummeted 90% in the wake of the coronavirus pandemic.)

July 02, 2019

“If you see a brick wall ahead, make a U-turn and find a better path.” –Harvey Mackay

A young and very successful executive was traveling down a neighborhood street, enjoying his new car.  He was watching for kids darting out from between parked cars and slowed down when he thought he saw something.  As his car passed, no children appeared.  Instead, a brick smashed into the car’s side door!  He slammed on the brakes & backed up to the spot where the brick had been thrown.

The angry driver then jumped out of the car, grabbed the nearest kid and shouted, “What was that all about?  What is your name?  This is a new car and that brick you threw is going to cost me a lot of money.  Why did you do it?”

The young boy was apologetic.  “Please, mister Please.  I’m sorry but I didn’t know what else to do,” he pleaded. “I threw the brick because no one else would stop…”  With tears dripping down his face and off his chin, the youth pointed to a spot just around a parked car.

“It’s my brother,” he said.  “He rolled off the curb and fell out of his wheelchair.”  Now sobbing, the boy asked the stunned executive, “Would you please help me get him back into his wheelchair’?  He’s hurt, and he’s too heavy for me.”

Moved beyond words, the driver tried to swallow the lump in his throat.  He gently lifted the handi-capped boy back into the wheelchair, then took out a linen handkerchief and dabbed at the fresh scrapes.  A quick look told him everything was going to be okay.  “Thank you,” the grateful child told the stranger.

Too shook up for words, the man simply watched the boy push his wheelchair-bound brother down the sidewalk toward their home.  It was a long, slow walk back to the car.  The damage was very noticeable, but the driver never bothered to repair the dented side door.  He kept the dent there to remind him of this message:

Don’t go through life so fast that someone has to throw a brick at you to get your attention!

Stop and smell the roses,  😉

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