... [+]As the coronavirus continues to roil markets and leads to widespread business shutdowns, a growing number of economists, former administration officials and top firms on Wall Street have been arguing that the U.S. is already in a recession, despite claims to the contrary from White House officials.CNN last Friday. “This has really become a major public health crisis, which has in turn curtailed consumer demand,” Cohn said.
According to Oxford Economics chief U.S. economist, Gregory Daco, “the U.S. is already in a recession,” with the global coronavirus pandemic set toa “profound, pervasive and persistent reduction in [economic] activity across the nation.” Those dire forecasts go against the narrative of top Trump administration officials, however: Despite forecasting a significant economic slowdown due to the coronavirus pandemic, Treasury Secretary Steven MnuchinAnother top White House official, trade advisor Peter Navarro, also vehemently denied claims of a recession in aon CNN where he was asked about the Trump administration’s attempts to stabilize tumbling financial markets.
Just three weeks ago, the stock market was at record highs—but is now down almost 30% from those levels. Trading has beenCrucial quotes: When asked if the U.S. was now in a recession—as many economists and top Wall Street firms have already suggested, Mnuchin
“Likely” an interesting choice of word you think?
We are falling toward a recession because of the coronavirus. That's it. It's the virus causing this. Otherwise before this the economy was doing great
One of the problems is that the community response to the virus has impacted businesses across a wide spectrum...from the local hair dresser to the airlines...the recession will be wide spread...
It's all about Trump, right? As if Americans cannot read an article about a recession without dragging Trump into it.
Trump Tariff impacted shipments from Port of Los Angeles have been declining for last 14 months straight. If that is not an Indicator, nothing is.
Theres a global recession on the cards
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Source: WSJ - 🏆 98. / 63 Read more »
In Oval Office address, Trump flubs his own coronavirus policyIt's not a great sign when the White House has to spend the evening clarifying that Donald Trump didn't exactly mean what he said in an Oval Office address MeatballMom2 MaddowBlog 👀....and on that, I'm going to bed. LordHelpUsWeStandInNeed MaddowBlog Shut up Rachel. You are too hateful. He’s DOing a lot. Democrats and you just gripe. MaddowBlog More from the main stream nothing but crap network, MSNBC, working hard every day to destroy America from within.
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So You’re Suddenly Working From Home And Want To Try Gaming? Here’s How To Get Started.If you're working from home and want to try gaming, here's how: by MattRyanPerez MattRyanPerez If you are working...why would you be 'gaming'? Just a question... Tech MattRyanPerez Uhhhh. If you are WORKING... are you supposed to be GAMING? Tech This further spreads the misconception that people 'working from home' don't actually work. Playing into the fears of big corp leaders means more micromanaging, less flexibility, and slows progress of the distributed work force.
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Source: latimes - 🏆 11. / 82 Read more »
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Source: Reuters - 🏆 2. / 97 Read more »
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