By James Kwak I think it's highly likely that the dust will clear eventually and that our economy will come back to life at some point in the next two or three years. I know there are certain disaster scenarios that can't be ruled out, but I think they are unlikely. I'm not going to guess when things will return to a semblance of normal. [ 427 more words ]
http://baselinescenario.com/…/…/covid-19-our-future-economy/

By James Kwak By some measures, in the short term, COVID-19 will surely reduce inequality of wealth, and probably inequality of income as well. As a purely mechanical matter, the rich have a lot more money to lose when the stock market crashes and most sectors of the economy grind to a halt. At the same time, however, this pandemic is throwing into stark relief how unequal the lives of Americans are today. [ 470 more words ]
http://baselinescenario.com/2020/03/26/covid-19-inequality/