Keeping Your Head Above Water While Watching the Economic Wave
Waves are hypnotic. The simple up-and-down motion has kept us watching for millennia. There is one moment that still sometimes makes us catch our breath: The sheet of water goes up, gets thin enough for the sunlight to sparkle through, and then crashes down.
The economy has its own wave structure. Look at any stock market graph for a moment and you might be tempted to surf it. From the troughs to the peaks, the up-and-down is a sure thing (we just don't know when it will happen). We can also watch for that just-before-the-breaker moment when the height of a wave becomes too thin to stand for long -- when the crash is coming.
And then it came. No one could have predicted the coronavirus and the changes it would bring, and now a lot of us are soaked.
Let's stop and look at this economic wave for a moment -- some indicators of
