Relevant:
- The economic data is even worse than Wall Street feared: 'The economy is clearly in ruins here'
- Why the US economy is doing so much better than the rest of the world
- Shutdown's Economic Damage Starts to Pile Up, Threatening an End to Growth
- The Collapse In Economic Mobility's Main Cause: Inequality, Not Low Growth
- It Took $10 In New Debt To Create $1 Of Growth In The First Quarter
2020-03-22 — yahoo.com
"There is no blueprint for the current shock, and uncertainty about the extent of contagion and the economic consequences is overwhelming," Credit Suisse economist James Sweeney said.
...
"We now guesstimate that second quarter GDP will drop at a 10% annualized rate, after a 2% fall in Q1," Shepherdson said. "We are pencilling in a 20% plunge in discretionary consumers' spending in the second quarter, enough alone to subtract some eight percentage points from GDP growth."''
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