The Fed's Unprecedented Bailout of Everyone and Everything Could Prevent Total Collapse

The Fed understood even before Congress that the health-crisis of the pandemic and the subsequent economic crisis caused by the shelter-in-place orders and shuttering of businesses, travel and events would easily morph into a financial crisis that could be magnitudes greater than what happened in 2008-2009.

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This Market Chaos Is Unlike Anything We’ve Seen Before. But Remember to Breathe

For weeks, I watched the evolving coronavirus crisis the way one observes an avalanche: it looks distant until suddenly it is upon you. I was inclined to take advantage and “buy the dips.” Then, something snapped: I started selling. I wanted cash. I panicked.

There. I said it.

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The Coronavirus May Actually Reinforce US-China Economic Ties

In these self-isolated days, silver linings are almost entirely obscured by clouds. Yet should the worst-case predictions of mass deaths and overwhelmed health care systems not come to pass, there’s a case to be made that the way the virus is spreading… China’s industrial production fell for the first time on record

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The Coronavirus Will End Conservative Dogma About Big Government Forever

The sheer urgency of the new coronavirus and its damage are overpowering free markets, shuttering businesses and triggering responses that only four weeks ago looked impractical, naive and socialist. Now, they are essential.

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Easy Money Is Back

Since the financial meltdown, it's become conventional wisdom that prior to the crisis, the world was awash in too much easy money—and that now it doesn't have enough. It's a tidy thesis, widely accepted. It's also wrong. What's remarkable about our post-crisis reality isn't that we're not capital-starved; on the contrary, we're still swimming in excess liquidity. During those months of panic, all that cash didn't evaporate. A lot of it just got stashed on the sidelines. Now the global pool is growing again, and the next market bubbles are already popping up.

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