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Senior Advisor

Can't find the report

that is being talked about- NBER projecting that 40+% of layoffs may be permanent.

Nobody knows exactly how many are unemployed or how many have actually gone back to work but any way you work the numbers that would be The Great Depression no matter how many oligarchs and farmers are made whole by the government.

I'll leave it to you policy wonks to figure out what to do.

Like the underlying factor- the virus- it more than likely won't work to pretend it isn't real.

But buy stocks!!!!!! Because: The Fed. I really have no quarrel with them- you don't really want an immediate financial crisis on top of a real economic one. I just think they'll ultimately fail. Powell seemed to be as clear as he could be without sounding "alarmist" and spooking "the market." They've done most of what they can do but it is going to take a lot more from the POTUS and Congress.