Howard Marks says ‘stimulus alone won’t cure down cycle’, paints grim view of economy

MarketWatch/Mark DeCambre

“‘Thus, this down-cycle cannot be fully cured merely through the application of economic stimulus,’ the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide, wrote in a lengthy screed, reflecting on the current state of the economy and the market, published on Tuesday. ‘Rather, the root cause has to be repaired, and that means the disease has to be brought under control,’ he wrote.”

USAGOLD note:  Unfortunately, from what we can gather, the medical community, including top scientists, do not believe we will have the disease under control anytime soon.

Repost from 10-14-2020

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