Succinct Summary: The first few weeks of September are usually filled with conferences where companies talk about long term industry trends. This year it's hard to look long term because things have been moving so fast. Still, the Covid rush seems to have calmed down some and the US is getting comfortable with a new normal. The big question on people's minds: do we ever get back to the old normal?
Succinct Summary: The next two weeks could be very painful for the US but hopefully we are approaching the peak for the growth of infections. Still, the economy could be locked down for a long time and no one really knows how things will look as we come out of this. It's hard to keep the consumer down. Reminder: This weekly newsletter is supported by donations from our readers. If you like what you are reading, click here to donate (Suggested donation: $10 per month). Help us keep the Transcript going.
Succinct Summary: The Coronavirus continues to spread globally and no one knows how bad this could get. On the one hand we have projections of its exponential growth. On the other is the hope that seasonality will help stem the tide. In the face of a potential pandemic, the health of the economy seems like a trivial concern. Still, this panic is having a material affect on economic activity and thereby markets. The Fed has tried to address this with lower rates, but even the Fed admits monetary policy can't do much to stop a virus. Where monetary policy will fail, hopefully modern medicine will succeed. Everyone, stay safe out there!