Today on the Brief:
- Social media apps get caught in geopolitical tensions
- Pitchforks around the Paycheck Protection Program
- Brazil blocks Binance
Our main discussion is with Daniel Lacalle. Daniel is chief economist at Tressis and is the author of numerous books including “Life in the Financial Markets,” “Escape from the Central Bank Trap” and his most recent, “Freedom or Equality.” He has been named one of the 100 most influential economists in the world by Richtopia.
In this conversation, he and NLW discuss:
- Why the recovery will likely be “L” shaped and uneven, not “V” shaped
- Why the “bailout of everything” undermines capitalism and promotes zombie companies that can’t service their debts
- Why zombie companies crowd out space for startups and small businesses
- How government programs can incentivize relationships with government over strong business practices
- How the current economic crisis could become a banking crisis
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