The Transcript 08.17.20

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Succinct Summary: The Great Recession of '08 pales in comparison to the kind of recession that we have here. The UK just recorded the worst quarterly recession on record. The virus levels remain stubbornly high in many places. The hope comes from the modest recovery in some hard-hit industries.  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 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.