Summary: Craft Distillers & NASCAR tracks get stimulus money<br> <br> Save the Dollar? or Save the Bond Market? - That decision will come for the FED<br> Q&A program in next few weeks - submit questions to info@mcalvany.com<br> <br> <br> The McAlvany Weekly Commentary<br> with David McAlvany and Kevin Orrick<br> What Does Your 401k Own? The Ignorant Bliss of Passive Investing<br> December 16, 2020<br> “We’ve never seen these kinds of volumes in the history of U.S. equities markets or global equities markets and derivatives markets. The bottom line is really this – overpaying for assets. That’s the norm today. It is the greater fool theory, not in theory, but in practice. And the bottom line, I think, is captured by an old bit of wisdom – The fool and his money are quickly parted.”<br> – David McAlvany<br> Kevin: David. While we’re thinking about it, let’s go ahead and ask our listeners for questions for the shows coming up over the next few weeks. Every year we’ve made the comment that we get better and better questions. We’re just amazed at the quality of the listeners to the McAlvany Weekly Commentary.<br> David: If you send them to info@mcalvany.com and just make mention that it is questions for the Weekly Commentary, we will circle back around in a few weeks and do our very best to provide some insight, and, if not, we will sufficiently punt.<br> Kevin: I was watching Monday Night Football, Browns/Ravens, and they were showing pictures of the vaccines coming out of the warehouse. And one of the sports commentators said, “Oh, I saw that this morning, and finally, finally, there’s hope.” I thought, “Gosh, that sounds a little bit overstated right now for a vaccine that really hasn’t had any time to be tested. When you see the pictures of the vaccines rolling out of the warehouse, did you breathe your first sigh of relief in nine or ten months, Dave?<br> David: I can understand if somebody has a significant health issue how this is definitely a day to celebrate. Reuters reported that there are five genes linked to severe Covid-19 cases. When I see those pictures, what I’m reminded of is, when we look at age, when we look at comorbidity, when we look at the testing for those five genes, we can pretty well narrow the scope of who is at risk. I think we ought to be engaging with those facts and plan accordingly. For those most at risk, again, I’m glad we have a solution. In fact, we’ve got three to choose from here in a short while.<br> David: That gene research was interesting too, because you have such a wide range of reactions to Covid. Some people barely know they have it, other people end up dying from it, and they’re finding that it can be genetically identified.<br> David: Yes, there has to be a more intelligent solution than to vaccinate the global population outside of those high-risk categories, because we’re dealing with materials that up to this point have never been used on human subjects.<br> Kevin: You don’t buy the shotgun theory where you just start shooting into the air and everybody gets it.<br> David: No. The reality is we’ve got very little science to quantify the risks that recipients face into the future. So if I’m 85 years old, if I’m 90 years old, I’m not really thinking about what the long-term implications for my health are. I’m just wanting a solution that takes care of this problem right now. But to roll out a vaccine without double blind studies with no historical data of effects, that just doesn’t exist yet.<br> I am reminded quite frequently as I’m listening to a drug advertisement, either on the radio or television, they give you this long list of things that can go wrong, and it’s not like mild headaches or cold sweats, it’s nasty. It’s a whole list of things, including death. And I just think, okay they’ve disclosed, you’ve chosen it. In this case, there’s nothing to disclose. The liability to the companies,
