'There's so much pessimism of what's going on, justified pessimism, that I think we underestimate how good 2021 could be going forward,' former Wall Street Journal columnist Morgan Housel told CNBC.
to aid the struggling economy. Indeed, it is many of those factors stemming from the pandemic that lay the groundwork for what could be a major rebound in the U.S. economy next year, according to Housel, a former columnist at The Wall Street Journal who is now a partner at venture capital firmAn automobile shop displays a sign reading in part 'Save Our Economy Stop The Virus' along historic Route 66 amid the coronavirus pandemic on May 24, 2020 in Kingman, Arizona.
"You put those two things together, and if we were to get a vaccine in the coming weeks, the coming months, going into early 2021, put all those factors together and what 2021 could look like is something most analogous to the end of World War II," he said. In the mid-1940s, Housel said there was a built-up appetite to spend after the U.S. economy had shifted its focus to the war effort, with what then-President Franklin D. Roosevelt dubbed"You had an incredible amount of pent-up demand for consumer goods because everything was shut down during the war, combined with a lot of government stimulus from the GI Bill, which set the stage of the economic boom of the '50s and '60s," Housel said.
"The most important thing any investor can do, amateur or professional fund manager, is just understand the long history of market volatility and realize that when something like this happens, like what we're dealing with today or on Friday, how normal that is over time," he said. "The stock market, on average, over the last 100 years declines at least 10% at least once a year, 20% at least every two or three years," he added. "So when you deal with something like that, it doesn't feel like it's necessarily broken or something is wrong with the economy, but that this is the cost of admissions that we have to pay in order to achieve long-term returns.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
٢١ موديل بنطلون جينز يتصدر صيحات موضة 2020-2021إذا كنت تبحثين عن أحدث صيحة في موضة البنطلونات الجينز، فقد جمعنا لك موديلات بنطلون جينز متنوعة تتصدر صيحات موضة 2020- 2021. شاهدي هنا واختاري ما يناسبك
Read more »
Australia to receive first batch of AstraZeneca COVID-19 vaccine in Jan 2021 - PM to sayAustralia will receive the first doses of an AstraZeneca and Oxford University COVID-19 vaccine in January 2021 if trials prove successful, after Canberra agreed a deal to purchase a second potential vaccine, Prime Minister Scott Morrison will say on Monday. Australia said in August it had signed a
Read more »
Dennis Ruh to Take Charge at Berlin’s European Film Market, as 2021 Edition Goes HybridDennis Ruh will take charge director of the European Film Market (EFM) at the Berlinale from Nov. 1. The EFM is set to go hybrid for its 2021 edition that will take place Feb. 11-18. The 2021 editi…
Read more »
Amazon Plans to Release Long-Awaited Rihanna Documentary in Summer 2021 | lovebscott.comRihanna has been working alongside director Peter Berg on a documentary about her life for the past four years. Finally, Pete says Amazon plans to release the long-awaited documentary summer of next year. via Collider: “The Rihanna doc is something I’ve been working on with her for almost four years now,” he said. “Amazon’s gonna
Read more »
Tokyo Olympics To Be Held “With Or Without Covid” In 2021, International Olympic Committee SaysThe trajectory of the COVID-19 pandemic still remains unclear as 2021 approaches, but the International Olympic Committee confirmed that one thing is for certain, next year’s Olympic games wi…
Read more »
H from Steps petitions Dancing On Ice to cast transgender contestant for 2021The chart topping star made Dancing On Ice history last year when he was announced as the first same-sex partnered contestant. He now thinks DOI should continue their trailblazing casting
Read more »