by John Hussman of Hussman Funds
Advisor Perspectives
Key points
1) The May jobs “shocker” was largely a reflection of CARES coverage of corporate payrolls.
2) The gap between Wall Street and Main Street appears similar to the “incubation phase” of other major downturns.
3) Federal support remains essential, but is best targeted toward preserving the “circular flow” of the economy by supporting the basic incomes of families and incentives for productive investment, limited to those actually experiencing economic damage.