|Goldman Slams Omicron Panic: "This Mutation Is Unlikely To Be More Malicious; No Reason For Portfolio Changes"|
BY TYLER DURDEN
SLNOV 27, 2021
One look at the ridiculous plunge across asset markets on Friday, which sent oil into one of its biggest tailspins in history (which as Goldman calculated would only make sense if the Omicron lockdowns are twice as bad as anything observed so far), and one would think that the Omicron variant - which as Edward Snowden so aptly put it "sounds like the name of an 80s movie's evil Robot King" (of course, the WHO had no choice but to skip the Xivariant, located right before Omicron in the Greek alphabet for obvious propaganda reasons) - is several times more aggressive and far more deadly than the Delta or any other Covid variant to date. Neither is the case, and in fact, as even Tom Peacock, one of the original Imperial College narrative-setters admitted, "it may turn out to be an odd cluster that is not very transmissable."
Alas, that would not help politicians who kill a lot of birds with just one brand new and " horrifying" variant, including getting a carte blanche for trillions in new vote-buying stimmies, enforcing even more ruthless and authoritarian government restrictions a dream come true for all liberal fans of big government, and most importantly forcing another round of mail-in ballot elections one year from today.
And yet, perhaps the pandemic apocalypse is not just around the corner. On one hand, Angelique Coetzee, the chairwoman of the South African Medical Association said today that “the new Omicron variant of the Coronavirus results in MILD disease, WITHOUT prominent symptoms.” On the other, none other than the most important bank on Wall Street - Goldman "Vampire Squid" Sachs - which sets the narrative that all other banks dutifully follow, has decided that it's not worth starting a panic crash over this mutation and in a note published late on Friday writes that "this mutation is unlikely to be more malicious and that the existing vaccines will most likely continue to be effective in preventing hospitalizations and deaths" and as a result, while Goldman "would monitor the situation in Gauteng closely over the next month, we do not think that the new variant is sufficient reason to make major portfolio changes."