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    “The current rescues only treat the symptoms of economic distress; they do nothing to address structural issues that have been a drag on middle-class household income since the 1980s. If we want to restart the engine that made this nation a superpower, we need to do something big. I mean really, really big: defeat-the-Nazis, land-a-man-on-the-moon, invent-the-internet big.

  • Top 5 Reads of the Week | 361 Capital Blog  

    Our favorite reads of the week and the quotes that make them worthy…

    And then, in a 20-minute span that ranks among the most extraordinary in the history of financial markets, the price cratered to a level that few, if any, thought conceivable. Around the world, Saudi princes and Texan wildcatters and Russian oligarchs looked on with horror as the world’s most important commodity closed the trading day at a price of minus $37.63. That’s what you’d have to pay someone to take a barrel off your hands.

  • Top 5 Reads of the Week | 361 Capital Blog  

    Our favorite reads of the week and the quotes that make them worthy…

    Instead, Wall Street learned precisely the wrong lesson from the LTCM rescue. Their takeaway was that if you are reckless or irresponsible or leveraged up, well, don’t worry, the Fed has your back. The Greenspan Put was alive and well, even if the future results of it was an even greater financial catastrophe.

  • Must Reads of the Week | 361 Capital Blog  

    Our favorite reads of the week and the quotes that make them worthy…

    Although that would be one of the shortest bear markets on record for the gauge, many analysts are calling the recent run a rally within a bear market. A quick exit would be a historical anomaly. Many economists are girding for a recession as the pandemic has shut down businesses around the world and left many jobless.

  • Top 5 Reads of the Week | 361 Capital Blog  

    Our favorite reads of the week and the quotes that make them worthy…

    “Even so, demand for tests will probably exceed the supply for some time, and right now, there’s little rhyme or reason to who gets the few that are available. As a result, we don’t have a good handle on how many cases there are or where the virus is likely headed next, and it will be hard to know if it rebounds later.