The Signal: Just a few months ago, the stock market was flying high, Wall Street revolved around quarterly earnings reports, and the concept of universal basic income was hypothetical (i.e., could a society thrive with UBI?). Now we’re becoming accustomed to wild swings in the market while millions of people are losing their jobs, scores of companies are pulling back earnings guidance, and the Federal Reserve has started buying non-investment grade assets (making WeWork’s community-adjusted EBITDA look reasonable).

In other words, anything is possible.

(By the way, if this stuff interests you, you may want to check out the 60+ slide deck we sent out last week. We’re constantly updating it with advice on how to navigate a post-COVID-19 world.)