“L-shaped recovery” for mass transit. Per person, vehicle miles were already in long-term decline since 2003. Than came 2020.
Meanwhile, away from the stock market mania…
GDP fell by 3.5% in the year 2020, the worst annual decline since 1946. Trade deficit in Q4 hit new all-time worst.
The service sector, including finance & insurance, in the New York Fed’s district, reports rising prices and wages, despite further deterioration in business. Weirdest economy ever.
Weirdest Economy Ever, as 20 million people still claim unemployment benefits.
OK, it’s getting a little crazy: Massive shifts due to working from anywhere and the Pandemic. But some of those shifts started well before the Pandemic.
The one-way street of Globalization by Corporate America.
Consumers still earned more in November than in the Good Times, but a lot less than back when free Pandemic-money was massively hailing down.
US Federal Maritime Commission investigates container carriers’ “abandonment” of American agricultural industry. Weirdest Economy Ever.