There's more evidence the US economy is in a deep recession because of government lockdowns and business shutdowns to contain the spread of the coronavirus.The decrease in sales over just one month was almost equal to the 16-month decline during the global financial crisis
The $US46.2 billion decrease in sales over just one month was almost equal to the $US49.1 billion peak-to-trough decline that unfolded over 16 months during the global financial crisis from 2008 to 2009. In addition, the US central bank, the Federal Reserve, said in its"Beige Book" report for April,"economic activity contracted sharply and abruptly across all regions in the United States as a result of the COVID-19 pandemic".The International Monetary Fund sees the US economy shrinking by 5.9 per cent in 2020 and has predicted the worst year for the world economy since the Great Depression nearly a century ago.
That was the plan.
a crippling, long lasting depression will be the result of economic management by meme, the idea that a government budget is like a household budget has to go in the bin
As if things were hunky dory before this crisis. I hope we come out of this more determined to create a more sustainable and fair economy.
Not be the same, doesn't mean can't be better....
'Things will never be the same again ...' Thank God ....
The virus has exposed the inequality. Yes ... I'm praying things will never be the same again. GOOD !
All financial issues resolved if you earn more than you spend, or spend less than you earn. Applies to individuals as well as nations.
You would think all these men pollies woyld twig to this idea already and plan for more change instead of RW commentators bleating on about opening up so we can go back to 'normal' that disappeared
Not if Vince McMahon can help it. Economy in a hell in a cell match now
Are these the same “economists” who said, “there will not be another recession in our lifetime” and “inflation is dead”
Things will be better than ever🌄
Does that mean reduced inequality and universal healthcare in the future? Sounds terrible!!
The environment will never be the same again either - wait and watch for relaxed environmental protection laws to make way for increased exploitation, in an attempt to ramp up the economy.
stream Never Be The Same Again by Melanie C for clear skin and immunity from coronavirus
This is good news for many millions of Americans for whom things couldn’t have gotten much worse.
All because hospitals couldn’t cope. FLATTEN THE CURVE! Who runs the hospitals?
Maybe things will eventually be better
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