>Morgan Stanley and Goldman Sachs Group Inc. economists said the coronavirus will inflict greater economic pain than they previously expected as they warned of a record plunge in the U.S. output in the second quarter and a deeper global recession.
>Morgan Stanley’s U.S. economists led by Ellen Zentner told clients in a report on Sunday that they now see American gross domestic product falling 30.1% in April-June. That will drive up unemployment to average 12.8% over the period, they said.
We were recovering from a war during the Great Depression. It isn't the same. We will recover and probably become stronger than we were before because of all the manufacturing Trump will strip from China and bring back to the US after all of this dies down.
Joseph Hughes
It may lose 30% but it will instantly return to precorona level after everything opens back. This is not real recession. Unless some large bankrupcies occur in the meantime.
Eli Collins
best part is because a bunch of republicans are now sick in the senate democrats are going effectively stonewall any plan that could help the US economy for a week or more so they can crash the economy even harder just to own Cheeto hitler
humanity is fucked dude we going back to the 18th century
Noah Clark
that's not how it works, thousands of companies will break, salaries can't be paid, government doesn't have money for everyone, it'll have to raise inflation, which in turn erodes savings and the currency, which makes people go fucking crazy trying to retain their wealth, it's chaos.
Blake Williams
ruski gets it. it's not like a 30% dip is going to be the new flat rate norm. It'll definitely be a recession, but not at that permanent level
Bentley Carter
>world gets destroyed >finally get to show people the real me
>Unironically believes that US workers can replace 800 million Chinese workers and compete with world class infrastructure that makes US supply chains look third world.
>Thinks US can promote manufacturing elsewhere in emerging exonomies, without realising China is already doing the same and far more in countries such as Vietnam, even building high speed rail for them, something US can't even build at home.
