For Once, Wall Street is Optimistic. That Might Not Be Crazy.

For Once, Wall Street is Optimistic. That Might Not Be Crazy.
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AP Photo/Mark Lennihan

By ZACHARY KARABELL

04/08/2020 07:21 PM EDT

Zachary Karabell is a contributing editor at Politico Magazine.Any look at the news suggests that we’re in the early stages of a society-changing response to an unpredictable virus that will have vastly negative consequences for the economy, not just in the U.S., but around the world. Dr. Anthony Fauci, the face of the American response, said yesterday that we may never be “the same” again. Entire industries could collapse. Six million people filed for unemployment last week, and most estimates, including from the Fed, suggest that the May employment report will show unemployment rates north of 15 percent—with some estimates as high as 30 percent unemployment and tens of millions out of work—and economic growth for the second quarter in the United States contracting more than 30 percent. Those are depression-level […]

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