David Rosenberg: Fed Is Probing the Outer Limits of Monetary Policy
Several years of frugality might not be fun, but it is probably just what the doctor ordered
Peter Fisher: Hard to Find an Engine for Growth After Initial Recovery
“The Fed should have a choice: They can either stabilize the real economy, or they can stabilize financial asset prices. You can’t stabilize both…”
The Long Road Ahead: Job Losses in Every Post War Recession
During most Post-War recessions, it took about two years to recover job losses. The Global Financial Crisis took over six years.
Jumping Head First into a Stimulus Trap
One must wonder whether expanded unemployment insurance and ‘helicopter money’ are here to stay in one form or another
Steven Davis: 42% of Layoffs May Be Permanent
‘They’re getting paid twice as much for unemployment benefits as they were paid to work. You don’t need a PhD in economics to figure out that that is a very strong disincentive for going back to your old job’
Leo Kolivakis: Underfunded Pensions Will Force Tax Increases at “Worst Possible Time”
“The reason why they are going to bailout these pensions, to be quite honest with you, is they are bailing out Wall Street”
Highest Ever Percent of Jobless Are Temporary Layoffs
The opposite happened during the Global Financial Crisis
Jeffrey Gundlach: We Will Take out the March Lows
“90% of the economic growth in 2019 was consumption… What happens now if… consumption drops?”
On the Prospect of a Depression
For the first four years of the Great Depression, there was no monetary response at all
Ray Dalio: We’re Headed for a Completely New World Order
“You’re not adequately distinguishing economic activity and stock prices and financial market considerations…”