As stocks and junky debt rebound on the dream that central banks can buy enough of them to single-handily keep markets defying economic math and levitating speculative longs indefinitely…this clip offers some big picture. The question is do workers, cash flow and the real economy matter any more? Will this time be different? Place your bets.
“The world is facing another depression as the COVID-19 pandemic is set to weigh heavily on global economic activity, according to economist David Rosenberg.
If we call ’08 and ’09, the ‘Great Recession’, this is 10 times worse at any level. How is this just a plain little recession?” Rosenberg said.
“Depression is something that happens every century but the definition is that this will cause a secular shift in attitudes in terms of how we live, how we work and how we travel, and the approach toward debt and spending. This is going to be a long-lasting impact here.” Here is a direct video link.
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