We are likely in the middle of a slow-motion train wreck. In a few months there will be a bigger second wave, much like what we had in 1918. This pandemic oddly fits as the catalyst for Skowronek‘s theory of transformational presidents. If true, then America is about to swing hard to a new vision of growth. But I don’t think that there will be a depression as the times are vastly different but I believe that it is safe to expect that what is dominant now will decline, at least relatively. www.macroESG.com #macroESG

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