Americans Think COVID-19 Is ‘Cyclical’, Not Systemic. Safe Assumption, Or Not So Much?
Consumer sentiment fell off a cliff this month.
Mercifully, the final read on University of Michigan's gauge was basically unchanged from the preliminary print, versus an expected further deterioration. In fact, at 71.8, the headline gauge was up a tad from 71 in the early read.
But the big picture shows an Icarus-like fall from the nosebleed highs seen during most of Donald Trump's reign (yellow line).
One notable from the commentary that accompanies the final read for April on the Michiga
We will see how Europe does and then we might know. Early information from Germany (who opened some retail) does not indicate that the shoppers are back in a meaningful way.
Systemic as in single leg take down type of systemic where we landed flat on our back on the concrete knocking the breath out of us and providing a head rattling painful concussion to boot.. When/if we get up and fight again we are not going to leave that leg open like that again; of course we might get punched in the face due to our preoccupations.
Quick reminder: We haven’t solved anything yet. Still can’t get mass testing (with quick results) fully up and running. Oh, and any serious attempt to Contact Trace in this country is going to be a f-cking joke. Our ongoing societal and bureaucratic disorganization will be fully exposed as a result of that endeavor.
I’m amazed at how easily the optimists are “fast forwarding” to the end of this movie. This will make Gone With The Wind seem like a cinematic short.
Sophie’s choice, as you’ve said.