"Unemployment will remain elevated as workers learn of generous benefits..."

[Celerity]

12. The same fool who said this just 3 months ago: Don't look now, but Goldman Sachs is saying the

economy is nearly recession-proof

https://www.cnbc.com/2019/12/31/goldman-sachs-is-saying-the-economy-is-nearly-recession-proof.html

“Overall, the changes underlying the Great Moderation appear intact, and we see the economy as structurally less recession-prone today,” Goldman economists Jan Hatzius and David Mericle wrote. “While new risks could emerge, none of the main sources of recent recessions — oil shocks, inflationary overheating, and financial imbalances — seem too concerning for now. As a result, the prospects for a soft landing look better than widely thought.”