Mike's Daily Comment
People saying this is a one time federal deficit are missing half the story. It’s not just spending – revenues are getting killed. And one major problem is being overlooked.
Bank of America survey of 223 fund managers found only 10% expect a V-shaped recovery, 25% expect a new bull market.
VS
75% expect a U or W-shaped recovery and 68% call today’s market action a bear market rally.
Talk about a 180. Suddenly we’re celebrating hard work, dedication, skills and the perseverance of not just front line healthcare workers but everyone still on the job.
I’m not kidding. This one question reveals what the big problem is going forward. Pass it on – including to your favourites in the commentariat. Hint – the answer won’t be found at the daily pressor in Ottawa.
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Mike’s Question:
Posted by Michael Campbell
on Thursday, 21 May 2020 6:46
Who’s Better To Lead Canada’s recovery – Entrepreneurs or Bureaucrats ?
Your standard of living depends on it.