Jonathan Ferro Has A Message For Washington: ‘You’re Doing It Quite Wrong’
"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
Thank you for this post.
Ferro may be the best financial news commentator and host since Mark Haynes
Spot on.
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.
Found this interesting:
https://www.counterpunch.org/2020/05/13/low-balling-the-unemployed-in-the-era-of-the-2020-great-recession/
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.