The Transcript 05.11.20

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Succinct Summary: Companies are reporting signs of improvement in the economy. But the rebound is coming off such a low base that these numbers would still be considered very bad in any other environment. The duration of this rebound will depend heavily on whether or not there's a second wave of infections. Still, even without the virus it probably will take the economy a long time to recover from such a severe shock.  On an industry basis: private capital markets are searching for price levels; consumers are dreaming of the future; tech is chugging along; and the industrial/energy economy is feeling immense pain. Editor's Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.

The Transcript 12.02.19

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Succinct Summary:  The trade war has been weighing on the economy for most of the year.  Businesses have been hesitant to invest due to the uncertainty and have been trying to mitigate the impact of tariffs.  Still, the consumer has been remarkably resilient.  Overall the economy is stable but not quite as strong as it was a couple of years ago.