Also Read | Inside the farmer disquiet at Delhi’s doorstepYet after this most unusual of years, there are three good reasons to think next year will be better—perhaps much better than you think. IHS Markit estimates personal consumption is running 7% below its fundamental level as dictated by wages and salaries, government payments, wealth, interest rates, taxes and demographics. When recovery kicks in, investors often price in higher interest rates. But those moratoriums and forgivable federal loans will in the end spare a lot of people and businesses bankruptcy court. True, jobs or businesses destroyed during the pandemic’s darkest days are gone forever—and there are more dark days to come.

Source: Mint December 24, 2020 06:00 UTC