Scott, a seasoned veteran in navigating through recessions, recently gave a 2Minutes presentation on the current economic climate. He utilized a chart from Wikipedia that listed out all the recessions since the Great Depression, highlighting their length, peak unemployment, GDP decline, and the 10-year treasury rates. Scott emphasized that while the Great Depression was undoubtedly the worst, most recessions are typically over before you know it.
Although the recent COVID-19 pandemic caused a 2-month recession that affected millions of people, the current recession hasn’t been determined yet. Unemployment is low at 3.5%, and the 10-year treasury rate is about the same as during the Great Recession which is significantly lower than years before. While there are some concerns, there are already signs of workouts and new deals coming down the pipeline for Tauro. Scott believes that it’s crucial to create value for clients and to stay on top of the changing economic landscape.
He reminded the team that disruption is all about anticipation and encouraged them not to fret but to persevere. He noted that there have been 20 recessions since the Great Depression, and while there are real implications, it is not the end of the world. People just need to keep looking for opportunities and to keep learning throughout.