News for June 8 — Chance of V-shaped Recovery Zero

As you know, my view is that the chance of a V-shaped recovery is zero for two reasons: the virus will be with us until a vaccine is globally distributed and administered, which is not in 2020, and the US economy is driven by consumer behavior: https://www.reuters.com/article/us-health-coronavirus-economy-consumers/scarred-and-scared-post-covid-consumers-not-their-old-selves-idUSKBN23F0VW (link replaced 12/6/20).

WSJ: Documenting another key irritation of mine: https://www.wsj.com/articles/states-are-short-the-contact-tracers-needed-to-emerge-safely-from-coronavirus-lockdown-11591435800

WSJ: This helps explain the Navajo Nation situation: https://www.wsj.com/articles/covid-19-households-spread-coronavirus-families-navajo-california-second-wave-11591553896

WSJ: More on “Bankruptcies, the Second Wave”: These pre-bankruptcy bonuses are a rather disturbing feature of our economic regulation: https://www.wsj.com/articles/chuck-e-cheese-in-talks-with-lenders-about-financing-deals-11591549377

WSJ: Surprised me that Johns Hopkins uses a 5 day moving average when the weekend effect dictates a 7-day moving average as the way to go: https://www.wsj.com/articles/california-and-some-other-states-see-coronavirus-cases-rise-11591540411

More on Brazil: https://apnews.com/bd42a5a5b9abfc8a582a86af1dd7790a .

WSJ: Is Mumbai the next New York? https://www.wsj.com/articles/worse-than-a-war-zone-covid-19-batters-indias-mumbai-city-11591531201?mod=hp_listb_pos1&mod=djemHL_t

The Feds and remdesivir: https://www.cnn.com/2020/06/07/health/remdesivir-donation-runs-out-coronavirus/index.html

Another useful viewpoint from the UK: https://www.theguardian.com/world/2020/jun/07/after-six-months-of-coronavirus-how-close-are-we-to-defeating-it

Interesting charts, I found the second particularly informative … another strike against a V-shaped recovery: https://www.calculatedriskblog.com/2020/06/may-employment-report-2500000-jobs.html?nr_email_referer=1&utm_source=Sailthru&utm_medium=email&utm_content=Insider_Today&utm_campaign=Post%20Blast%20%20:%20%27Defund%20the%20police%27%20is%20a%20lousy%20slogan&utm_term=Business%20Insider%20Today

His shoes MELTED: This is quite moving, and I find it healing: https://www.insider.com/photos-marine-veteran-protests-for-black-lives-matter-2020-6?nr_email_referer=1&utm_source=Sailthru&utm_medium=email&utm_content=Insider_Today&utm_campaign=Post%2520Blast%2520%2520:%2520%2527Defund%2520the%2520police%2527%2520is%2520a%2520lousy%2520slogan&utm_term=Business%2520Insider%2520Today