We can now add another letter to the bowl alphabet-soup and raft of symbols and shapes that experts are predicting the economic recovery will take. Not satisfied with “V”, “U”, “L”, “W”, “swoosh”, and “square-root”, they are now proposing the possibility that the recovery could be “K”-shaped. They are trying their best to out-do each other to see which as-yet unused alphabet they can shoehorn into their narratives. What about “Y”, as in why bother? With a “V”, experts reckon the economy could rebound as quickly as it contracted. A U-shaped recovery could take longer, while a “L” could mean the economy would not recover at all. A “W” is self-explanatory – down, up, down, then up. A “swoosh” is just an extension of the “V”. And a “square-root” would imply a flatline after a recovery. But unlike the other alphabets and symbols, a K-shaped recovery suggests that the economy is unlikely to recover in unison. Instead, there could be splendid winners but also hopeless losers…....