Agreed. I've been arguing since the spring that the Covid slump is more like the 79-82 slump, brought on by high interest rates, than 2007-9, brought on (to oversimplify) by an overhang of household debt 1/ cnn.com/2020/11/15/pol…
Once the pandemic abates, which a vaccine will probably achieve, we will be well poised for a rapid, V-shaped recovery. There's a pretty good chance that Biden will preside over a "morning in America" economy 2/
This won't mean that things are OK. Investment demand will still be weak unless we ramp up public investment. Climate change is still looming over everything. But Biden's second year in office may look far better than most people imagine 3/
And yes, Dems should run on it — it will be proof that R claims that you need to be harsh on the poor and destroy the environment were false 4/
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