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Bloomberg.

Let's bring you David Kelly, shall we?

JP Morgan Asset Management Chief Global Strategists.

So David, help us understand two things.

Near-term outlook, darkening, long-term outlook, medium-term outlook,

getting brighter.

How do you navigate those two things at the moment?

One of the advantages of being a bear is you can always hibernate.

I think a lot of people would like to hibernate through the next few months because it is going to be

pretty rough.

You can look at those case cans, you know how this is going to play out, it's going to be difficult

for the economy, it's going to be very difficult for people's lives.

...