Ken Fisher on the economic recovery

This was not a recession that we had in 2020, it was a constriction caused by the lockdowns.  And therefore the bounceback was not the kind of bounceback you normally get after an economic recession that has to correct for prior excesses and dislocations in the economy, but instead simply about unwinding the lockdowns...  It's not really a new cycle.  It's really just a return to the old cycle that was here before we were briefly interrupted by the Covid lockdowns.

~ Ken Fisher, "Mid-Year 2021 Stock Market Report," 0:40 mark, July 30, 2021