Hints of the Second Wave (Demand Destruction) Showing Up Right At The Start of the First
What’s going on right now in the global economy is mostly the first of two pieces. Waves, if you like. The economic shutdown is an artificial dislocation, a non-economic factor that is interrupting regular activity and business for non-economic reasons. Because it is near-total in most places, this first piece is going to produce ridiculous numbers across all the economic [...]
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