There was hope for a V then maybe a W but now it looks like we are going to L

Last February I got clarity on what was about to happen in our economy. It has happened. Is happening.

Now, an economist has described exactly what the final leg of this will be. An L.

When I spoke of this I said that when the next long down leg of the economy comes, it will be a long long time at that level.

Just don't be surprised. We'll survive, but life will be different.