"I condemn in the strongest terms any insinuation that I am racist, and I greatly resent any attempt to leverage meritless accusations in hopes of causing me reputational harm. While such efforts might succeed in scaring others in a similar position, I will not be intimidated."
The latest economic information is driven by the following:
The surprising increase in non-farm payrolls, which drove stocks and bond yields higher. I believe this is at best temporary given the ongoing destruction of the mainstream economy. The euphoria that followed will likely be short-lived.
The COVID-19 pandemic has touched every single part of the economy, including — or especially — sales. Businesses have seen existing customers delay reordering and new customers wait to make their first purchases, and some companies are holding onto cash rather than investing in their business.
