$1 Trillion Is The Floor (California Dreamin’)
“Stimulus Talks at Standstill With GOP Yet to Agree on a Proposal” read one feature
“Stimulus Talks at Standstill With GOP Yet to Agree on a Proposal” read one feature
Just another day in the constantly worsening clash of the titans.
Don’t worry, the base case still looks like a “V”.
“Many investors did not participate in the equity rally”.
“It sounds quite radical”.
“We’re very much going to put pressure on governors and everybody else”.
And yet, all of this comes as the post-COVID reality tends to favor many of trends associated with “new” tech.
…content in the notion that as long as equities are loitering in rarefied air, all must be right in the world.
Equities’ phoenix-like rise from the ashes of March is increasingly difficult to rationalize.
2020 is not a year during which you can write off indeterminacy using that old adage: “There’s always uncertainty”.
That’s your Wile E. Coyote moment.
“…we see a high risk of a more orderly setback for risk assets”.
…a perfect super spreader event, I might add.
“I think that at some point that’s going to sort of just disappear, I hope”.
Joie de vivre.
Let’s not get ahead of ourselves.
Then again, fireworks have a way of showing up when you least expect them.
Maybe the White House should charge COVID-19 with “treason, sedition and insurrection”.
“The recent rebound in financial market sentiment appears disconnected from shifts in underlying economic prospects”.
“A taste of things to come”.
“Everyone’s really, really excited”.
A misunderstood bear and underrated economic thinker.
The “day-to-day focus really swings wildly”.
“The burden of the downturn has not fallen equally on all Americans.”
It’s all fun and gains until…
The road to a new paradigm will be bumpy to say the least.
“It’s better than their salary”.
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