The IMF in its April World Economic Outlook is projecting global output to contract by -3% in 2020 and is forecasting growth of 5.8% in 2021. For advanced economies, the IMF is calling for a contraction of -6.1% this year, and growth of 4.5%, next year; emerging markets are expecting 1% contraction and 6.6% growth,
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The March employment report left no unanswered questions about the devastating economic impact from the pandemic. There were 713k total jobs eliminated in the private sector alone, according to the Establishment Survey, Private services which account for 71% of total GDP saw 659k job losses, ten times the amount for goods producers. Leisure and hospitality
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The S&P 500 just endured two of the ten worst days since the Great Depression. The index of 500 leading companies plummeted -9.5%, and -12%, on 3/12 and 3/16, respectively. The experience has been undesirable. Market lore foretells that “Bear Market Bottoms” are unlikely to be singular moments, instead, painfully, more apt to be a
read more ♫ Bear Market Bottom Blues ♫IF By Rudyard Kipling If you can keep your head when all about you Are losing theirs and blaming it on you; If you can trust yourself when all men doubt you, But make allowance for their doubting too; If you can wait and not be tired by waiting, Or, being lied
read more The poem, “IF” by Rudyard Kipling