"... we continue to see Americans lose jobs at a pace that is far beyond anything we have ever seen before in all of U.S. history."
"Uber CEO Dara Khosrowshahi, who was granted a $45M earnings package in 2018, announced he will also waive his $1M base salary for the remainder of the year."
"The “Everything Bubble” lasted far longer than it should have, but now that it has burst the pain is going to be absolutely immense."
"... businesses all over America are not going to be able to “return to normal” if millions upon millions of workers simply do not want to work."
"...we have lost 710 jobs for every confirmed US death from COVID-19..."
"Simply, it is small businesses that drive the economy, employment, and wages."
"There are even calls for the central banks to extend their programmes into the $1.6 trillion junk debt market..."
"Bear markets have a way of “suckering” investors back into the market to inflict the most pain possible."
"Pay attention to employment and wages. The data suggests the current “bear market” cycle has only just begun."
"Officials all over the world are going to be balancing the need to protect life with the need to resume economic activity for a long time to come."
"California Governor Gavin Newsom says that a million residents of his state have filed for benefits “just since March 13”…"
"As noted above, bear markets do not end with investors wanting to “buy” the market. They end when “everyone wants to sell.”"
"The potential for more damaging secondary effects from a major pandemic should not be underestimated."