Lights And Long Tunnels.
“There is light at the end of the tunnel but it’s still a long tunnel”.
“There is light at the end of the tunnel but it’s still a long tunnel”.
“The point of equity funding over debt funding is it does not need to be repaid.”
“Today the range of negative outcomes seems much wider”…
“It contains many layers of meaning”.
“It’s been miserable on so many levels.”
A somewhat inauspicious start.
“We are experiencing the end game of the great debt super cycle”.
“Always a mess.”
“Markets are all over the place at the moment – and currently trying to go up”.
“Absolutely, absolutely, absolutelyâ€.
“…the response evolves initially from under-reaction, then overreaction and then converges closer to an optimal response.”
“…a key lesson is that major wars are staggeringly expensive.”
“We can’t shut the economy”.
“Economic activity has come to a near standstill.”
“The package is coming in at about 10% of GDP. It’s very large”.
“If this doesn’t work, we’re going to keep doing it until we get this going”.
“What’s happening has not happened in our lifetime before”.
Wartime.
The situation is fluid.
“In the next two weeks”.
Governments are under pressure to do something – anything.
Pride goeth before destruction, and an haughty spirit before a fall.
Not to put too fine a point on it, but it’s over.
But that’s not the base case.
“I expect we’ll have a big rebound later in the year.”
Central banks in the region are spending nearly $50 billion in the virus fight.
There have only been two other periods characterized by these kinds of wild swings: The GFC and the Depression.
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