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The Year in Review: 2020 was an unprecedented year and The Transcript covered the economy throughout all of its twists and turns. Even though China was battling Covid in 2019, no one really knew what was in store for all of us in 2020. Technology, capital markets, and housing were three industries that boomed. While the stimulus was integral, the economic hero of 2020 was the US consumer. Optimism is high that 2021 will be a more normal year.

Editor's Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.

 

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The Transcript

Succinct Summary: The economy has had a strong but incomplete recovery.  The worst seems to be over but there’s still a long way to go.  For many industries, this looks like a K shaped recovery.

Editor’s Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.

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The Transcript

Succinct Summary: The economy has improved a lot since the bottom, and headline economic activity is nearing a full recovery.  However, the recovery has not been shared equally.  There have been a small number of big economic winners and a much larger number of economic losers from COVID.  This will help keep the government pushing for more stimulus for a long time.  In the past, this stimulus has tended to help the winners even more.

Editor’s Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.

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The Transcript

Succinct Summary: It is quite clear by now that we are in a recession. The hope is that this is a different kind of recession and that we will be out of it quickly. But that depends on the trajectory of containing the virus. The good news is that things in China look better after containing the virus.
Editor’s Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading and want to help us keep it going, click here to donate (Our suggested donation: $10 per month).

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