3/  not clear long term "Fisher Effect" impact on GDP can be reversed but if he Japanese experience from 1990 to 2010 is repeated in the US, then SP500 will fall another 40% and R2000 another 20%.  In long run this may explain equity better than cv19.
https://t.co/OC83uABPfc https://t.co/eWj6UuQtsR