(05-29-2020, 02:51 PM)stupac2 Wrote: [tweet]https://twitter.com/markets/status/1266348603574038530[/tweet]
Seems like the Cares act basically worked, the problem is that given the inherent uncertainty people aren't really willing to spend, instead saving what they can to cushion against downside risk. I think this is the big hope behind a V-shaped recovery, in theory if we can keep the most exposed sectors of the economy on ice until a treatment or vaccine, then we should be able to basically boot them back up once people are no longer afraid that they'll get sick or lose their job. Of course doing that is easier said than done and I'm not sure I have any confidence that the feds will actually manage to...
Interesting phenomenon. Every firm in our business has cut salaries/wages/draws/compensation. At the same time, because we've furloughed so many people, overtime is up as we try desperately to fulfill our mission.
Currently, the stimulus runs out on July 31 of this year. There will likely be another package, once the two parties can get out of each other's way.
Audaces fortuna iuvat