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by pbourke
2306 days ago
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My hypothesis has been a supply crunch simultaneous with a demand crunch. We are seeing substantially altered consumer behavior in China. If they are drastic, these events can make lasting changes in people’s willingness to spend money. If you spend months inside, avoiding gatherings, worrying about your health and that of loved ones, not going to restaurants, postponing discretionary purchases do you immediately snap back to pre crisis levels once it’s over? What’s the economic activity in locked down areas of Italy right now? What is the possibility that US escapes unscathed given clown car response at the federal level? |
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