WASHINGTON; April 9, 2020: We’re in the midst of an unprecedented global economic shutdown, the kind of black swan event or exogenous economic shock we’ve been warned about. It happened with frightening speed. In just six-weeks the US economy went from 50-year low unemployment to 17 million people out of work. Share prices, at a peak in mid-February, plunged over 20% into a bear market. We’re experiencing a global … Continue reading What Will a Recovery Look Like?
PARNU, ESTONIA. Enno Kuusmets is a sturdy Estonian who at age 77 has experienced tough times. Enno Kuusmets at Parnu’s bus station Born four years before the Soviets took over in 1940, his homeland in southeast Estonia was soon occupied by the invading Germans. His father was forced into the Wehrmacht. Enno remembers soldiers digging trenches in his yard as the Germans retreated from the … Continue reading Bare Bones Life for Estonian Pensioners