A few comments on the economic outlook:

All year I've been too pessimistic on the economic recovery.

The reason is simple – In my worst nightmares, I never though the US would accept 400,000+ COVID deaths in the first year of the pandemic.
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— Bill McBride (@calculatedrisk) November 26, 2020

Eh, I thought we would. Just because what choice was there? There was absolutely no chance we’d get organized enough in the beginning to halt the worst of it, and after that it’d be too late.

So here we are, right about where I thought we’d be. And Biden will be no savior.