Browsing Tag

coronavirus

Europe double dips as the US expands

Lockdowns are very destructive for growth. We know that from the record-setting declines in GDP from the first global lockdowns back in the Spring. And we are getting a renewed sense of that fact now as Europe's economy has contracted under…

Shutdowns and double dips

I want to run something by you I haven't thought through 100%. It's on the coronavirus where I am by no means an expert. But it's troubling me and putting virtual pen to virtual paper will help me tease out some of the variables. I'll try…

The Macro Themes That Matter, Part 1

I want to take the most macro view possible today. We have a major US election upon us. And we are also experiencing significant increases in Covid-19 infections in Europe and North America. These are events with a wide dispersion of…

Scalability and the K-shaped recovery

I was reading something this morning about Fed Governor Lael Brainard recommending monetary and fiscal support to stop a K-shaped outcome where the less well-off lose and the most well-off win. “This strong support from monetary policy - if…

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