Trump Recession Slump + Coronavirus is Outright Economies
Recession Trump Slump plus now the coronavirus impact on the economy around the world is worsening by the day. With every new canceled vacation, dinner date, movie, hotel reservation, sporting event, concert, sales order, job posting, and more, both consumers and businesses around the world add to the entrenchment already being forced upon them by the virus itself.
With every new fatality, with every new country affected, especially all those already weakened by years of Trump Slump trade garbage policies, the Trump recession is staring down at us all.
NRP reports on the rising risk of severe global recession:
As odds of a global recession rise, governments and central banks around the world are racing to fend off the economic damage from the coronavirus spread.
In countries where the virus is most lethal, such as China and northern Italy, business activity has all but ground to a halt, with entire cities under quarantine and whole industries forced to lay off workers.
But in a global economy, even countries that have been relatively unscathed by the virus so far, such as the United States, face growing risks from the “still-evolving corrosive shock from the virus,” says Bob Schwartz, senior economist at Oxford Economics…
As more and more companies feel the pain of the epidemic, the odds of a prolonged downturn grow.
“It is not just spending on restaurants and travel that is suffering, but also investment by businesses while they wait for the uncertainty to be resolved,” Eswar Prasad, a senior fellow at the Brookings Institution, wrote in the New York Times this weekend. “This will have long-term effects on growth even if the outbreak proves short-lived.” […] Click here to read the full story www.npr.org