It All Burns Down.
“A red flag to a bull, even if it is bullish for assets”.
“A red flag to a bull, even if it is bullish for assets”.
€500 billion will be in the form of grants.
Onward and upward for risk.
The long version.
Williamson cautioned that a full recovery in Europe may “take several years”.
Of course, all the usual disclaimers apply.
“The recovery began with the cautious lifting of the lockdown at the beginning of May, but…”
The virus has other ideas.Â
“Today, borrowing is voluntary, at least for countries with sovereign currencies.”
“… businesses that are able to restart will be running at low capacity, and will be operating in an environment of greatly reduced demand.”
“…a recession like the one we’re currently in is unprecedented.”
Don’t forget the lessons from March.
In case you were curious, Hassett sees the jobless rate rising as high as 20% by June.
It wasn’t all good news, though.
“Strong fluctuations are therefore to be expected.”
“…output sometimes shrank into almost nothing.”
“…we’ve decided to immediately return the entire $10 million PPP loan we received.”
“I’m sure people will be very happy to get a big, fat, beautiful check”.
The “next shoe to drop”? Maybe not. And here’s why.
Better to remain silent and be thought a fool than to speak and to remove all doubt.
Toss out the old methods and say hello to the largest contraction since World War II.
“One day at a time” is the mantra for now.
“It’s increasingly difficult to find the words to describe the devastation”.
These are surreal times, folks.
“…the response evolves initially from under-reaction, then overreaction and then converges closer to an optimal response.”
“This is the most difficult crisis in our post-war period”.
“Certainly the rapidity of the collapse in markets and the unfolding economic slump has accelerated the policy response”.
You must be logged in to post a comment.