Chart
Macro/Econ
The Next Leg Down Will Involve Credit Cards
the conclusion I come to is that credit card delinquencies might be worse than what’s currently expected.
Let’s not make things worse
The first thing you have to remember is that there are $34.6 trillion in retirement assets in the US.
Throwback to the Volcker Recession
Over the last 50 years, the three recessions with the highest share of temporary layoffs were followed by the fastest labor market recoveries
The Fed finds another kitchen sink to throw at us
This morning, Federal Reserve Chairman Jerome Powell will be speaking on the just-unveiled $2.3 trillion plan to get more money flowing throughout our shutdown economy. The Fed’s dual mandate is stable prices and full employment. This morning we learned that another 6 million people have filed for unemployment insurance last week, which is on top…
Staggering
Just thinking about these numbers makes my heart hurt.
Will the economy go back to “normal”
What will change and what won’t?
Breathtaking
Today’s New York Times cover
What You Should Buy in a Recession
“So the people that survive are the people that have profitable businesses that generate cashflow. And the people that don’t survive are the idiots”
They did it: The first emergency interest rate cut since 2008
The fact that central bankers are paying attention and keeping liquidity intact is not a negative, it’s fine. I just don’t think it changes what’s going to happen with the potential virus spread and concomitant scary headlines.
