It's amazing how long we're delaying the pain of the current economic collapse.

Jul 29, 2020
2:21:40pm

ReyOso Intervention Needed

A massive 32% drop in GNP last quarter, with only a partial rebound this one. I remember how painful the so-called Great Recession was, and this is far, far deeper, yet it doesn't seem that there have been hard consequences yet. It's all massive borrowing and disruption in housing and stock markets, so I don't see how we disentangle this without facing pain, and probably before long.

WKRC

US is expected to report a record-breaking economic plunge

WASHINGTON (AP) — Having endured what was surely a record-shattering slump last quarter, the U. S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of the year. A huge plunge in consumer spending as people stayed home and avoided shopping, traveling or gathering in crowds as the virus raged is estimated to have sent the economy sinking at a roughly 32% annual rate in the April-June quarter.

https://local12.com/news/nation-world/us-is-expected-to-report-a-record-breaking-economic-plunge