The coronavirus has led to a lot of economic pessimism.
I’m more bullish than most commentators. Why?
- Stock prices have bounced back from their mid-March lows
- Shops, schools and factories can open again thanks to workarounds
- Government transfers have stabilized incomes
- The corona shock has sped up the digital transformation
- Masks and testing will bring the virus under control without lockdowns or a vaccine
The future looks bright!*
*Unless premature austerity kills the recovery.