These 5 jarring economic signals flashed red this past week — and they show just how quickly a recession is descending upon America
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.This week, many economic indicators released showed just how severe the damage of the coronavirus pandemic is on the US economy.
"For awhile, we are going to be in territory that was just unthinkable," Heidi Shierholz,a senior economist at the Economic Policy Institute, told Business Insider. In comparison to the Great Recession, the current situation is a much more rapid deterioration, she said. . That could send the unemployment rate to 20% in the April jobs report, nearing the all-time high of 24.9% seen during the Great Depression. A 47-year market vet explains why he sees the economy's 'super-cycle' hurtling towards depression — and lays out his case for an 80% stock plunge later this year
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