The Most Important Chart of the Decade: by Michael Batnick. (US context). “During a recession, the economy contracts, and people lose their job. And when they lose their job, they lose the ability to save money. But this was no ordinary recession. Yes, people lost their job, but they didn’t lose their income, thanks to a fiscal bazooka like we’ve never seen before. And when the economy closed, their spending declined to a fraction of what it otherwise would have been. Add this all up, and you get this amazing result where the personal savings rate explodes. Mathew Klein at Barron’s shows that Americans have saved $1.8 trillion more than they would have had we not experienced a pandemic. Wow. Just wow.”
Akira Kurosawa: The note taker: “From this point on, my approach to literature changed. I made a deliberate effort to change it. I began to read carefully, asking myself what the author was trying to say and how he was trying to express it. I thought while I read, and at the same time I kept notes on the passages that struck some emotional chord in me. When I reread in this new way things I had read in the past, I realised how superficial my initial reading had been.”
Reading: The Beirut Protocol by Joel Rosenberg
