Crane's Corner: 6-30-21 Bummer of a Summer

Crane's Corner

One or two shots and a card to prove we were jabbed against Co Vid, relaxation of the mask mandate and the re-opening of our favorite restaurants, ball parks, theme parks and other venues we didn’t think twice about until 2020, have emboldened us. We’re ready to make up for lost time, spend a little of that money we saved or Uncle Sam sent us and have some fun.

Half way into 2021, there is good news, bad news and keep your eye out for further development news.

If you invest in stocks or have them in your retirement plan, you are sitting pretty. While the bank--any bank pays a fraction of one percent to use your money, the stock market is way into the green. The Dow--The S & P and The Nasdaq are up between 12 and 14 percent, fueled by a comeback in corporate earnings. But here’s the problem, Analysts fear a trifecta of inflation, supply chain problems and Joe Biden’s plan to raise corporate taxes will eat away at those earnings. Wall Street fortune tellers fear the economy’s comeback may be slowing, but even a bear market will outpace inflation and offer enough to keep your serious investment money out of the bank.

Now the bad news. If you haven’t researched that vacation, prepare to be stunned at the prices. Business Class fares are about half of what they were last year, because no one is doing significant business travel. Economy fares are better, but when the industry was hit by CO VID last year, the airlines parked planes in the desert and pilots on furlough. Until both shake off the dust and rust, there will be fewer seats, crowded planes and for now a mask mandate that really isn’t needed.

Rental Cars? No matter who you rent from...The Hertz on you. The car companies sold off a lot of inventory last year, new car supplies are delayed by chip and other supply issues, so if you can get a car you’ll pay through the nose. In May of 2020, Hawaii logged 60 thousand visitors. In May of this year, more than 900 thousand flew into Paradise, and found 40 percent fewer available rentals pushing the price up on some vehicles to $400 per day. Enterprising owners of clean late model rides are offering them for 200 per day. Hotel rooms are in the stratosphere too, and some are using the CO VID crutch, limiting room cleaning and breakfast service because--not everyone has had the shot.

Now what to watch for news. It seems the whole country is under a rolling heat wave, we face a real danger of both fires and power outages in California, the collapse of a Miami High Rise is prompting concern that scores of hi rise buildings are beyond their safe living date, and the likely parade of hurricanes that regularly terrorize the U-S coastlines could pound them into pancakes ahead of schedule.