03/25/2020
Today Joseph Ladapo, USA Today We are fretting and we are fuming. As a country, we have been caught miserably flat-footed after receiving warnings about what lay ahead when cases of COVID-19 began exploding in Wuhan, China. Messages from local and state leaders about how to respond to the pandemic change almost daily — a sure sign they have no idea what they are doing. Shutdowns are happening here in California and in New York, and will probably spread to the rest of the nation. |
Eric Levitz, New York President Trump has signaled that he may disavow attempts to slow the spread of coronavirus through social distancing measures, arguing that "THE CURE CANNOT BE WORSE THAN THE PROBLEM!" But letting COVID-19 spread freely won't revive the economy. |
Rob Arnott, RealClearPolitics |
Steve Forbes, Forbes Congress will probably get a rescue bill passed, but the question is how much unnecessary harm will it do? Meanwhile, the Fed is stepping up to the plate, big-time. |
Rex Nutting, MarketWatch There?s no reason to think the economy would do much better under full-fledged plague conditions |
John Tamny, RCM "What would I do? I'd shut it down and give the money back to shareholders." - Michael Dell, commenting on a near-bankrupt Apple Computer in 1997 No companies ever run out of... |
Sendhil Mullainathan & Richard Thaler, New York Times Two economists suggest suspending these 5 types of regulations because they are slowing the medical response to the pandemic. And they are asking for more ideas. |
Richard Epstein, Hoover The hasty and disproportionate responses to COVID-19 will prove far more devastating than the disease. |
Doug McCullough, RCM Make "Safety" not "Essential Services" the Test Ravaged by COVID-19, the American economy is on the precipice of economic free fall. Federal Reserve Bank of St. Louis... |
Dennis Kelleher, The Hill We all hope that the nearly $2 trillion rescue plan Congress and the administration are working on enacting this week is properly designed and will work, but it is not going to be immediately self-executing |
Edward Stringham, AIER If you depend only on mass media during this crisis, one’s perspective can become distorted. You might gain the impression that the whole world agrees that a full lockdown of life itself is the only way to control the spread of Coronavirus and minimize the fatalities. But this doesn’t take into account what actual medical professionals are saying right now. |
James Copland, City Journal Early administrative failings of the FDA and the Centers for Disease Control greatly exacerbated the Covid-19 crisis in the United States. |
Brian Wesbury & Robert Stein, First Trust Advisors |
Peter Hooper, Deutsche Bank Group |
Derek Bergen & John Holt, Applied Finance Capital Management The uncertainty of the timeline for a "return to normalcy" has created liquidity concerns across practically all economic sectors. Companies of all sizes and levels of financial strength are drawing on open lines of credit to weather worst case scenario contagion estimates. Commercial landlords will likely see missed rent payments with little demand to lease shuttered storefronts, while rising unemployment may lead to a spike in residential mortgage and rental delinquencies; this has clearly impacted the recent performance of financial stocks, REITs and mortgage insurers. To continue to... |
Cooper Howard, Charles Schwab Year-to-date total returns drop amid concerns about market liquidity and municipal finances. |
Liz Ann Sonders & Jeffrey Kleintop & Kathy Jones, Schwab Recent stock action suggests some investor exuberance is being worked off. |
Matthew Luzzetti, Deutsche Bank Group |
Peter Hooper, Deutsche Bank |
Rich Lowry, New York Post The nation-wide coronavirus shutdowns over the last two weeks have ground parts of the American country to a halt. |
Thomas Friedman, New York Times Some experts say it can be done in weeks, not months â?" and the economy and public health are at stake. |
Brian Dodge, The Hill The vast majority of retailers are in the same situation as the nation's airlines and hotels â?" closed or closing. |
Matt Egan, CNNMoney President Donald Trump often cites the stock market as a scorecard of his policies. Here's how the S&P 500 performed under each president from Reagan to Trump. |
Caroline Baum, MW Businesses and workers need cash to pay their bills until the economy can revive |
Richard Ebeling, American Institute for Economic Research The world has rapidly moved into a seemingly aggressive paternalistic planning mode in the face of the Coronavirus crisis. Many voices are heard to say that personal and economic liberties must be restricted or even temporarily banned. At the same time, many of those same voices are saying that at a moment like this government spending, for all intents and purposes, has no limit. Welcome to the world of a really lot bigger government. |
John Tamny, RCM At lunch last week at a diner-style restaurant with an old friend in a fancy part of northern Virginia, the friend talked of how his daughter had been working as a hostess at one of the most famous... |
Mark Zuckerman & Andrew Stettner, USA Today Right now, the COVID-19 health emergency is forcing countless workers across the country into full or partial unemployment. Hardest hit are employees in the retail and service sectors, jobs that already offer low pay and few benefits. And the worst is yet to come: Nearly 80 million jobs are at risk due to coronavirus, Moody’s Analytics estimates. Goldman Sachs estimated that an unprecedented 2.25 million Americans will have filed for unemployment last week alone. |
Arpit Gupta, City Journal How to get Americans back to work safely |
Mark O'Connell, New York Times The prepper vision of the world is bleak and ruthless. Something better is happening now. |
Peter Boettke, American Institute for Economic Research Ludwig von Mises remains in my judgment the greatest economic analyst of the 20th century. He was sharp and pointed, and yet comprehensive. His critique of socialism was decisive and his price theoretic rending of the manipulation of money and credit remains I would argue the top contender for an economic theory of macroeconomic volatility. |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Julie Segal, Institutional Investor Quant managers' private equity replication funds have tanked. Real private equity investors should take note. |
Morgan Housel, Collaborative Fund "How are you holding up?" |
Bernard Haykel, Project Syndicate Although Saudi Arabia's recent decision to hike oil production coincided with the broader COVID-19 crisis, it reflects a broader and more fundamental strategic shift led by Crown Prince Mohammed bin Salman. With a global clean-energy transition inevitable, MBS is desperate to cash out while the Kingdom still can. |
Ben Carlson, A Wealth Of Common Sense Performance of different asset allocations. |
Macromon, Global Macro Monitor The Fed's effective nationalization of the financial markets in the past week has spiked gold prices. It does appear the first phase of the bear market and bursting of multiple asset bubble is almost complete. Phase 1, an initial massive deleveraging, brought gold down 15 percent from its recent high before the big spike over? |
Susan Dziubinski, Morningstar These sturdy companies can withstand the economic slowdown--and they're on sale, too. |
Carmen Reinhart, Project Syndicate The vast uncertainty surrounding the possible spread of COVID-19 and the duration of the near-economic standstill required to combat it make forecasting little different from guessing. Clearly, this is a "whatever-it-takes" moment for large-scale, outside-the-box fiscal and monetary policies. |
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