GDPNow at 3.1% as oil price freefall beckons liquidity crisis

When I was thinking about writing this post earlier in the weekend I was only going to stress the GDPNow number. And the point was to reiterate how well the US economy was doing pre-coronavirus. And then I was going to make the abrupt transition to the oil market, since I have telling you this is where the rubber hits the road for a liquidity crisis, de…