The coronavirus recession is already here

Subject: The coronavirus recession is already here Mon Mar 30, 2020 9:23 pm

You don’t need to be told there’s something deeply wrong in the economy right now.
The coronavirus crisis has sent the economy into a tailspin in the United States and around the globe. The restaurant industry has ground to a halt. So have air travel, auto manufacturing, hotels, gyms, and cruise lines. The stock market has posted enormous losses and wild daily swings, to the point that trading has sometimes been paused altogether, and the price of oil has plummeted. Layoffs across the country are taking place in waves. We’re producing less, spending less, and consuming less.
After more than a decade of expansion, the next recession is here.
“The reality is that even without the data, this is the one time where we can look around and say, well, first of all, everybody is at home,” said Betsey Stevenson, an economist at the University of Michigan and former Obama administration official. “We won’t know for a long time what the full magnitudes of the decline are.”

The coronavirus recession is already here GettyImages_1207362568.0

The coronavirus recession is already here GettyImages_1207362568.0

https://www.vox.com/policy-and-politics/2020/3/21/21188541/coronavirus-news-recession-economy-unemployment-stock-market-jobs-gdp

The coronavirus recession is already here

The coronavirus recession is already here

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