The Daily Reckoning
October 14, 2020
Everyone knew the second quarter of 2020 was going to be a disaster, and it was. The U.S. economy fell by 31.4% (annualized) in the second quarter.
But, the expectation was that we’d have a V-shaped recovery with a sharp bounce-back in the third quarter, a reopening of closed businesses, rehiring of the unemployed and a rising stock market.
But so far, the economy is not following the script laid out for it by the politicians and experts.
This article was posted: Wednesday, October 14, 2020 at 3:57 am
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