K-shaped recovery: 1. Idea that post-Covid recovery will take two forms – the upward stroke of the K representing large corporations and public sector organizations benefitting from stimulus packages, with the downward stroke representing the continued decline of the usual whipping boys – small to medium-sized businesses, blue-collar workers and the dwindling middle class. 2. A shocking and deeply-flawed concept invented by our old friends JP Morgan; it has two massive faults: (1) The downward stroke of the K is patently not recovery – it’s decline, and (2) the vertical stroke of the K plays no role in the model at all; so in fact, this should be a < model, from the ‘less than’ symbol in mathematics.