Post #115 , Bob McKnight's Florida Commentary
Our unemployed are now the greatest number since the Great Depression of 1929. It is reported that the number is probably low because of the reporting time lag as well as the volume of data yet to be processed. This is an experience most of us never thought we would see. Responsibilities for this will be assigned in history and some crimes may be prosecuted.
In the meantime, one exercise worth considering is if and why the economy might come back--not quickly, but gradually. For the record, I have not been nor do I ever expect to be a fan of President Trump to handle the economy. Although the stock market has often reacted favorably to his record, But it supported both Presidents Bush and Obama before him. The market just wants predictability. In my opinion Trump's lies simply render him incapable of trust. But, when the economy comes back, here are three major reasons why:
1. The corporate engine of Wall Street has some of the most powerful drivers of wealth ever, led by high tech companies. The NASD will carry the other exchanges through this malise, although it will take time.
2. New business models will surface that are not driven by numbers of individual participants, in person. Technology will create new ways for us to communicate, connect, and travel, that we have not yet discovered. Capital markets will respond favorably.
3. Medical technology will be pushed and supported to create vaccines for every known virus, and lock down protocols will be built into our laws. We will be muck better prepared for the next health threat.