The Pandemic Blues: Economies Are In Deep, Deep Trouble [Forbes]
Barclays PLC (BCS)
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Source: Forbes
A protester in Rhode Island who is against stay-at-home orders on Saturday, April 25, 2020. (AP... [+]Photo/Michael Dwyer)ASSOCIATED PRESSStates started their slow and gradual open this weekend, led by Georgia. If the mainstream political press is correct, it’s going to be a total disaster within about two weeks.That’s still an unknown.What is known is that New York City was the epicenter of the new SARS coronavirus in the U.S., and they plateaued. Mitigation worked. The Tri-State area should be in deceleration phase within the next week or two if it follows the same path as other countries, which is pretty likely.Another thing we all know is that the economy is a mess. Over 26 million people lost their jobs. Some may get it back. Others were forced to take pay cuts ranging from 5% to 25%. Bonuses were also slashed, meaning many Americans will have tens of thousands of dollars less in income this year.Economic output in a world on pause has fallen off a cliff. Services sector PMI is e
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