Dems’ Worst Nightmare – What If V-Shaped Recovery Is Real?
I & I Editorial Board
June 19, 2020
I&I Editorial
During World War II, Allied political leaders flashed a two-finger salute signifying a “V,†for “Victory.†Today that same salute might instead denote “V†for “V-shaped recovery,†a victory of another kind. Across the nation, as the pandemic lockdowns slowly end, the economy is picking up pace. Will it continue? Sure looks that way.
Don’t be fooled by Thursday’s report on weekly jobless claims, which rose 1.51 million for the week ending June 13, causing a mild stock market sell-off after it was announced. That’s a bad number, to be sure, and higher than the 1.3 million expected by most economists.
But the weekly claims data have been falling. After hitting 6.87 million in the final week of March, claims have now fallen with each report, even during the lockdown.
In short, the economy took a punch in the gut but is now getting up off the canvas.
more
https://issuesinsights.com/2020/06/19/dems-worst-nightmare-what-if-v-shaped-recovery-is-real/
