U-Chicago professor Durlauf: 'This is a time of radical uncertainty'

Steven Durlauf, economics professor at the University of Chicago, says the perceived trade-offs between re-starting the economy and continuing quarantine is, in the short run, illusory. Lack of shelter-in-place, Durlauf says, creates such bad consequences for the health system -- and a re-started economy won't recover until everyone leaves home and participates fully -- that the choice between the two sides is not a true trade-off. Durlauf says that the current radical uncertainty would leave him surprised if the economy recovers in less than 18 to 36 months. In a 'Technical Difficulties' interview, Avi Gilburt of Elliott Wave Trader says that the current 2,700 to 2,900 range on the Standard and Poor's 500 is a 'battle zone,' and that if the market falls below 2,690, it could drop to the 2,060 range, while if it rallies and breaks through the 2,900 resistance, it could return to the 3,100 level in the next few weeks. Also on the show, Adam McCabe of Aberdeen Standard Investments talks about emerging markets and whether they have an edge having moved past the worst of the viral curve, and author Dan Simon discusses his book 'The Money Hackers' and the changing landscape of money, cash and global financial technology.