Markets

Jonathan Ferro Has A Message For Washington: ‘You’re Doing It Quite Wrong’

"If you're looking for five tech stocks to break down before you do more in Washington..."

"Many people come on this program throwing mud at the 'V-shaped' recovery forecast without realizing that it's the throwing mud part that's the consensus view", Bloomberg Television's Jonathan Ferro said, during a truly fantastic 60-second-long, mini-rant on Thursday morning. "The consensus view is that nobody really thinks we're going to get a 'V-shaped' recovery", he added. Ferro's monologues over the course of the crisis have been punctuated by some of the most forthright commentary of any on-air personality from any network, bar none. Consider, for example, his message from the moment the April jobs report hit:   Obviously, it's all scripted, but Ferro certainly comes across as deeply sincere, and to the extent he writes part of his own script, he's done a truly admirable job of driving home how tragic the last several weeks have been for tens of millions of newly unemployed Americans - not to mention the tens of thousands of newly deceased. During his closing remarks on Thursday, Ferro implored those bickering inside the Beltway to ignore a st
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6 comments on “Jonathan Ferro Has A Message For Washington: ‘You’re Doing It Quite Wrong’

  1. Thank you for this post.

  2. Ferro may be the best financial news commentator and host since Mark Haynes

  3. Ferro is excellent. I have appreciated his “Real Yield” program over the years, because there is otherwise so little Fixed Income commentary on the mainstream financial media outlets.

    • Even worse looking at Gig workers who operate on contracts and deposits like people in the wedding industry, not simply becoming unemployed buy having to refund deposits from the last 6 to 12 months as people cancel. I expect a lot of planners, florists, photographers and venues to not simply be unemployed but be out income they had already in their accounts. Imagine your employer taking back 6 months of paychecks then kicking you out door. The situation is WAY worse than 14.7%. I expect something that indicated damage on a wages lost scale would be (discounting the insane offset caused by the 1%) something like 35-40%. The Unemployment kicker and the checks probably helped offset something like 50% of that but only if this is over in 3 months, then it starts to soak a lot less damage. These numbers are all out of my butt but sound in the ballpark.

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