How to Think About the Market: The Dollar Blackhole

While we saw stocks and crypto became a bit less correlated this week, I’m not convinced they are completely decoupled yet. I don’t see a fundamental reason why they should.

Google search trends for “Unemployment Benefit” in the United States is already at +50% of what it was during the 2008 financial crisis. Remember, the “temporary” shutdown of service businesses only started a week ago.

Meanwhile, Goldman Sachs sees a 24% drop in Q2 GDP. Frankly, I’m not shocked at all.

This is a Great Depression number.