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"I think we’re going to see an extraordinary number of large corporate bankruptcies, not just in the U.S. but across the globe."

With so many countries across the world facing difficulties, many people have yet to notice the Euro-Zone has become a place where hope goes to die...

...a bounce like the one we have seen only means that the rate of deterioration is slowing down, not that there is a recovery. All sectors remained deep in contraction...

The main driver behind 70% of US GDP just went into hibernation.

A tragically wrong public policy should be abandoned, not emulated. Sadly (and tragically), the U.S. since 2001 has been copying Japan’s approach, with a lag of a decade or so.

The current travesty of a mockery of a sham system will fragment no matter how desperate the looters, parasites and predators are to maintain their swag.

"Like watching drunk hobos fight over a half-eaten sandwich at 3am..."

...key components of the economy may be missing...

As the old models break down, opportunities for new models will arise...

If the historical relationship between labor and PCE holds up, and consumption continues to be the predominant contributor to GDP, we should not expect GDP to regain prior highs until 2025...

"A substantial part of the service sector nevertheless continued to be devastated by social distancing measures... limiting scope for a v-shaped recovery..."

There was a time when price and value could, in most cases, be considered synonymous. Those days are long gone.

"The rights afforded under SB 939 would effectively rewrite every commercial lease in California."

Should the central bank refrain from embarking upon a prescription of tightening, a new type of economy will be born: the anti-productivity economy, comparable to Japan in the 1990s and China today...

The bank, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling them that the San Francisco-based company was dropping them as a customer.

Celebrations of the EU’s long-awaited “Hamiltonian moment” of debt mutualization are premature.

In several sectors we are not seeing improvement, which argues for more persistent labor pain and a more delayed recovery.

"While there is no doubt that India is facing a significant economic shock..." 

"Business closures and social distancing measures are expected to curtail consumer spending, while the recent drop in energy prices is projected to severely reduce U.S. investment in the energy sector."

What's an amateur criminal to do?