FAST FIVE: Doug Kass' 15 Surprises For 2020: Biden Tops Trump, Stocks Slump, Auto Industry Dumps
2020 could be the year of mean reversion – a year of the vanishing Fed (and global central banker) put and a surprising turn in central bank policy (by the ECB), weakening global economic growth and less than expected corporate profits (again), political upsets (again), rising geopolitical risks (and global conflicts), a general recognition of the risks associated with untamed deficits and large debt loads and general market instability.
Power and LMC Automotive, the average new care price is now over $35,000), a decline in used car prices, growing and record purchase incentives (of nearly $4,600/unit, a +12% increase from last year), and rising auto loan delinquencies (which hit an all-time high in 3Q2019) causes a substantial amount of damage to the sub-prime auto asset backed securities market in 2020).
2020's market drop is the worst since 2002's fall of -23%.
(h/t Robert Hubbell) As written in a recent Wall Street Journal column, which chronicles the events leading up to the Iraq attack, the lede is buried deep (30 paragraphs into the analysis). “Mr Trump, after the strike, told associates he was under pressure to deal with Gen.
Though the Republican Party was a huge favorite to retain control of the Senate – the Democrats regain control of the Senate on the coattails of Senator Biden and the widening voter turnout.