Mohamed El-Erian, chief economic adviser at Allianz, told Yahoo Finance’s On the Move Thursday that the recent economic data including second-quarter GDP and new data on weekly unemployment claims points to a “square-root” shaped recovery, with some leveling off now under way.
“It is the square-root recovery in the sense that we came down very sharply, we saw that in today’s 32.9% annualized contraction in GDP that you mentioned,” El-Erian said. “We came back strongly initially — we saw that in last month’s jobs report and the initial improvement in jobless claims, and now we’re getting the leveling off.”
“And that is of worry because not only do we have to deal with the damage that has been created to the economy, but also unfortunately we now become much more sensitive to any policy slippage,” El-Erian said. And I say that because …we also have continued disagreement on Capitol Hill as to what to do next with the relief package. “
#coronavirus #COVID19 #economicrecovery
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Whatever the behavior is, as long fed put in, we are doing all right.
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Nice opportunity here
It will be depend…obviously a basic level of English grammar won’t matter in the future…America, where every moron now gets paid to stay home. You’re country is hilarious.
Who knew you need to save money incase you need it…
EXACTLY
The fed bubble gonna burst
Gonna go back to gold standard or crypto
My issue with crypto is the govt, can take it and own it.
Gold standard failed the world over.
How does the government tax any of that?
Joshua Lee the government has to beat their ass like the rest of us
Companies with a high employee to revenue ratio should pay few taxes. Companies with few employees and high income should pay the maximum. This will incentivize retaining employees and not replacing them with machines.
Interesting
Thats not efficient
@Joshua Lee True but the end result of the current system is that only robots will have jobs and robots don’t pay taxes.
Dr. Doom must be on vacation. Haven’t seen that clown in a while. Thank God for these economists. I hope one day I can find them credible as soon as they become BILLIONAIRE investors.
Like bill gates?
People gonna feel the pain when our media finally lets the cat out of the bag … 60% of ALL recovered covid patients have heart abnormalities, including very mild, young and no pre-existing conditions. (MRI study of hospitalized and never hospitalized recovered people)
That is false!
@J C. oh really what’s the truth then?
@Roberto Ramos we don’t know yet. We do know that the seriously ill do have blood issues. Clotting all over the body. We don’t know the percentage, I haven’t seen evidence it’s in anyone not seriously ill.
rock Onmyboi the study was 100 people including people who had been hospitalized and mild cases who had not been hospitalized. The heart abnormalities discovered with MRI scans were not linked to severity
He missed the ENTIRE run up…”Too early…too early…Too early…Too early to get back in…” He and Cramer sat there on CNBC making fun of everyone that was in. Lost a lot of respect for both of them and am glad I didn’t listen to them.
Nobody saved for a rainy day so we must keep putting shotgun blasts in the hull till we capsize.
stop free money which will stop nonsense protests. People will start to work.
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El is one of my favorites but it seems we’re all talking around the elephant in the room, the President. This is like we’re all at the scene of a burning bldg and we’re saying point the water hose over here or there to put the fire out and he’s hosing down the Trump Tower.🤷🏿♂️
Do you think we would be better off with biden? If so. How?
You know, at least Japanese, South Koreans and Taiwanese know how to act like adults and wear masks. Granted they learned with SARS but at least they’re not acting like petulant children being told they have to eat their green beans.
Rusty if you’re so smart, why aren’t you rich or President? Maybe it’s because no one likes to listen to an arrogant, know it all.
If you can only communicate in a condescending, hurtful way, then just shut up. You’re of no use to anyone.
@Dan Chatka You racka discipline young grasshopper.
@Dan Chatka YOU should “shut up.” People brandishing guns instead of putting on a damn mask? The post was too kind. “Hurtful,” my arse. Is everybody a snowflake now?
@Dan Chatka As if being president is a good thing.
With Trump changing his message every other day about mask no mask, Hydroxychloriquine or not, injecting disinfectant. Covid-19 hoax or not. Trump cultist believe the hoax, and mask do not matter. Behavior will not change until people are affected in one way or another.
The framed snes controller in the background….4:15… I automatically like this guy lol
The only way the Nov next president can keep this economy operable after forced stop printing fiat is keeping government rate 0%, a sharp tax increase and cut benefits programs, if not do that the superinflation will ruin any recover.
The congressional hearing was kabuki theater. CV19 is the best thing that could have ever happened to big internet tech companies. Brick & Mortar middle class commerce is dead. And law makers are owned by big tech.
100% agree
Our economy is Milton Milton Friedman idea…reaching endgame. All that corporate money/profit bought the government usurping the voter.
Modify behavior? Yeah right. There is so much entitlement in the world that people will be rushing out as soon as lockdown stops. Then you get another wave. Rinse, repeat.
There they go again with the guru analysis. Square root??? How come we are still going up now? S & P is about to break out from 3300.
I stopped counting how many times he’s been wrong. He said markets would go lower as yield goes lower, wrong again. Markets have recovered all together for a all together V shape recovery
Knock on wood playa
Depends on which stocks.
And this is where the doctors and the government are getting it wrong they’re assessing the risk of catching the disease not the wrist of mortality from the disease………… If we were to assess the risk of mortality. Less than 2 Percent of people under the age of 60 years of age are dying from this disease that means that less than 90% of Americans all United States citizens are dying from this disease . To shut down a economy or adjust it the way the government is doing for 10% of the population when the actual shutdown is hurting the other 90% of the population more it doesn’t seem fair
Coronavirus
According to information space diagnostics ISD (diagtor.com.ua) there are 7 types of coronavirus. Coronaviruses choose a specific place of their reproduction depending on the type: type 1 – in the respiratory system, 2 – in the heart, 3 – in the respiratory and nervous systems, 4 – in the nervous system, 5 – in the heart, 6 – in the digestive system, 7 – in the reproductive and hematopoietic-immune systems. The third and fourth types of coronaviruses are fatal, their share is 6%, the rest of the viruses are weakly dangerous. Coronavirus is treated with malic acid stabilized by MAS in 1-3 doses. MAS is obtained by ISD technology by stabilizing microcrystals of the well-known malic acid. MAS also changes the structure of water in the blood and eliminates the adhesion of red blood cells, which contributes to an increase in life expectancy by 82%. MAS also suppresses in the body all other pathogenic viruses (cancer, AIDS, herpes, flu, etc.), bacteria, fungi, and at the same time is completely safe.
Ermakov P, professor