The crisis caused by the forced shutdown of the economy has given us some important lessons.
The promise of freedom without responsibility is, in reality, slavery without escape. We think we do what we want when, in reality, we do what we are told.
Douglas Clement at the Minneapolis Federal Reserve offers one of his characteristically excellent interviews, this one with Emi Nakamura, titled "On price dynamics, monetary policy, and this `scary moment in history'” (May 6, 2020, Federal Reserve Bank of Minneapolis). Here are a few of Nakamura's comments that caught my eye, but there's much more in the full interview.
There seem to me a few salient facts about the search for a COVID-19 vaccine.
In August 1920, the 19th Amendment to the US Constitution became law when it was ratified by the state of Tennessee.
If we want to understand whether the recent bounce is a true buying opportunity we need to believe that stocks are cheaper.