Where are the acronyms of the corona crisis?
During the Global Financial Crisis, we learned about CDO, CDS, Fannie Mae, Freddie Mac, MBS, NINJA…
Today? Nothing.
Why? Because the crisis didn’t originate in the financial system, but in the sudden shutdown of whole industries.
If you like acronyms to describe what’s going on, I want to coin NICO: no income, cash out.