Faith
At our small practice, is our most cherished value.
Each of us, Bobbie, John, Christina, and me*, have absolute faith in each other that our interests are not only aligned with that of our clients but also that they come first in everything we do. We also have faith that Americans and our innovators are well on the way to conquering the current virus. Yes, the government blew it: The CDC, by maintaining absolute and exclusive control over new virus test development, as is now apparent, delayed the process – they screwed-up.
The cavalry has arrived. Yes, the private sector is now on a tear to provide us testing, cures, and remedies. We have faith in capitalism.
Some folks in our country are advocates for a centralized health care system because as they have loudly expressed all drug company CEOs, to quote a recent candidate for president “are a bunch of crooks.” Maybe we should ask the Italians how their centralized system is responding to the virus. As reported in the Wall Street Journal, Italy had 62 cases on February 22nd, a month later that expanded to over 41 thousand instances with more recorded deaths than any other nation in the world. Hello, socialized medicine.
The “crooks” at Pharma, all 48** of them, have some form of treatment therapies, and vaccines under development – some are already in testing. Chloroquine, a drug approved by the FDA to treat malaria and arthritis to is in testing as a treatment for the virus. Another therapy, Favilavir, has been approved by the equivalent of the FDA in China.
The “villains” and “loathsome multimillionaires” who lead 50*** of our most well-known companies, once again, are rising to the occasion. These folks are voluntarily paying for, guaranteeing, and simultaneously helping employees and clients; three examples:
- For the next 60 days, Comcast, Charter, Verizon, Google, T-Mobile, and Sprint are guaranteeing internet connections for all Americans, even those who cannot pay.
- Disney has closed its cruises and parks: They have promised to continue paying their employees during the closures and will refund all those who had reservations.
- Adobe and Google are making remote-learning tools available to schools, universities, and parents for free.
Another 47 companies are pitching in, every day, to make it better for all of us.
Yes. We have faith in America. Aren’t you proud?
Carlos Dominguez – CERTIFIED FINANCIAL PLANNER™, Portfolio Manager, RJFS
When you get a minute try out our risk discovery tool – tell your friends
https://www.dominguezandjones.com/my-risk-o-meter/
*Our Group:
- Christina Jones – CERTIFIED FINANCIAL PLANNER™, Partner DJWMG
- John Lilly III – AAMS®, Portfolio Manager RJ, Partner DJWMG
- Bobbie Denton – Financial Paraplanner Qualified Professional™, Office Manager
Sources:
**https://www.clinicaltrialsarena.com/analysis/coronavirus-mers-cov-drugs/
https://www.wsj.com/articles/coronavirus-vindicates-capitalism-11584659306?mod=opinion_featst_pos1