Some people returned to work, but 1.64 million newly-out-of-work people filed for state or federal unemployment insurance. Labor market at essentially the same level of terribleness for months.
Precisely what’s needed to end the price collapse. But last time, it wasn’t long before Wall Street liquidity surged back into shale, starting the cycle all over again.
Every city is confronted with dying malls and vacancy-pocked shopping districts. Is there a cure? No. The failing retailers were already on their way to the morgue. Is there a vaccine that will help? Yes.
