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Financialization was never sustainable, and neither was the destructive globalization it enabled...

'It’s incredibly hard to survive...'

Realistically, we should now toss ideas of a bottom in April (as the Cass report suggested last month) or even May, as the latter is essentially irrelevant...

But...but...but...Vice was valued at $5.7 billion....

It appears that not even a global viral pandemic can keep the US consumer down.

"To be more precise, incoming data will be worse, even though the worst might already be behind us."

"...there should be a strong presumption that reopenings everywhere else should be successful."

 "As a last resort, those burdened by excessive long-term debt and pension obligations could file for bankruptcy..."

The core problem is the U.S. economy has been fully financialized, and so costs are unaffordable...

...it is crucial for market participants to keep an open mind to all scenarios and plan defensively.

COVID-19 scars will weaken the economy for years to come... depressive effects, such as depressed investment opportunities and increase in precautionary saving, can persist up to 40 years..

Some recovery but a long, long way before we get back to normal.

General Motors, Fiat and Ford will be hit the hardest, as they made up 21%, 18% and 12% of Hertz's vehicle supply, respectively...
 

"The Asian giant hornet stung him in the eyebrow and this proved fatal..."

That was supposed to be a good thing because of the trade deal, remember?

"...we estimate that 42 percent of recent pandemic-induced layoffs will result in permanent job loss." 

Insurers now actually might turn you away flat out...

If the trade war restarts, "China knows how to respond, and it is able to retaliate quickly and inflict serious harm on the US economy."

Not even in Khruschev's wildest dreams did central planners ever conceive of anything so absolutely batshit insane as what is taking place in US "markets" right now.

Can Trump be re-elected with those numbers?