Re:IMF Says Great Lockdown Recession Likely Worst Since Depr...
by nl on Tuesday April 14, 2020 @10:44AM
(#22866594)
Sure I think that's a reasonable case to make. We could have - at some point - had a correction in the financial markets which might have caused a 2001 style disruption or maybe a 2008 recession.
But this is nothing like that at all. A stock market crash takes months to move through the economy.
A big crash means things like 700,000 new unemployment claims (2008 had that many at its peak).
The US just had 6 million new unemployment claims.
But this is nothing like that at all. A stock market crash takes months to move through the economy.
A big crash means things like 700,000 new unemployment claims (2008 had that many at its peak).
The US just had 6 million new unemployment claims.
It's a whole new level.