In the last recession, GDP contracted by less than 5%, but the stock market fell 57% from peak to trough. Stocks reacted to economic conditions in a way the “real” economy did not.
Joshua M Brown
“How bad is it going to get?”
If you’re roughly in my age group and reading this, then it’s likely you’re at home right now, with children, doing your best to be a mom or a dad, as well as a homeschool teacher, while simultaneously trying to manage a business, be a remote employee or figure out your next gig for when…
Today’s New York Times cover
Even if you had known this news in advance, you could not have predicted the market reaction.
Josh here – Our friend Jon Boorman is one of the bravest, kindest and most thoughtful people we know. We wanted to pay tribute to him and tell his story.
Who does it help? How does it help them? What are the most important parts of it?
This is how I feel right now. Yesterday, Batnick asked me if I thought Monday’s thrashing might have represented the bottom for the S&P 500. I don’t. I also don’t see this morning’s agreement in Congress as “stimulus.” I see it as a rescue. Stimulus is what you do for a slowing economy. This is…
That’s Senate Majority Leader Mitch McConnell sometime after 1am this morning announcing that there is now a bill that can be signed into law, after a marathon negotiation that went days and days. Treasury keeps the half-billon-dollar “slush fund” but Dems managed to secure oversight via 5-person panel and an Inspector General. The Fed is…