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"I would certainly be in favor of allowing states to use the bankruptcy route.... It’s saved some cities, and there’s no good reason for it not to be available."

"...the decline in combined output across both manufacturing and services was the strongest ever recorded..."

"Their business banking unit - which serves smaller firms - only funded around 6% of applications..."

... it is guaranteed to work until it no longer does.

Private jets dashed off to “the Hamptons of New Zealand” where multi-million dollar luxury bunkers were long prepped, just before border closures...

"How long until colleges are broke or capitulating on tuition? There is no way people are going to pay current prices for a bad on-line version."

"Mortgage servicers continue to receive a very high level of forbearance requests..."

"Blue states like California got a pathetic number of loans."

"I will be signing an Executive Order to temporarily suspend immigration into the United States!"

One veteran professor warned: "This is a message to all high school seniors & their parents. If you were planning to enroll in college next fall — don’t."

The requested bailout is galling in scope and shameless in purpose – a clear attempt to use the pandemic as cover to get federal money to pay for Illinois’ pre-pandemic fiscal mismanagement, particularly of its pensions.

"So what you do if you jump the gun and go into a situation where you have a big spike?"

This is not economic prosperity. This is a distortion of economics...

...forget the so-called “V shaped recovery” because “you cannot simply turn back on the economy like a light switch. There’s no electricity.”

...careening towards its deepest recession since the 70s...

"China’s greatest export hit (that nobody wanted to have, but which has nevertheless gone around the world) is coronavirus."

Borrowers are starting to default. This could be very bad... 

There is no way authorities can limit the coronavirus and restore global growth... This is not what people want to hear, but it's the reality we will have to deal with...

As long as investors are confident that the next quarter is a little better, and the path from there is improving, we think markets will be more forgiving of poor data. But this thinking is predicated on April and May being the low for US and global activity.

...the commitment to maintain financial asset values by printing money will require such enormous amounts of base money as to bring forward the destruction of the fiat dollar and all the other fiat currencies.