It will be a long time before the economy recovers — and it won’t be the same.
We know the US economy is bad right now. Millions of people have lost their jobs, and millions more will. Estimates for how much unemployment is expected to spike and GDP will fall are staggering. Production and spending across much of the country have been brought to an abrupt halt.
It’s natural to want to see a light at the end of the tunnel, obviously in terms of the health crisis caused by coronavirus but also for the economy. And there will be one — eventually.
“The very best-case scenario is we rapidly bounce back and we get close to something where we were before. Personally, I think that’s highly unlikely. The shock from the virus is going to trigger a broader economy-wide recession,” said Jesse Edgerton, an economist at JPMorgan. “That’s a really harsh reality…”
To read the entire article from Vox, click https://www.vox.com/policy-and-politics/2020/4/9/21212743/coronavirus-economic-crash-2020-recovery-stock-market-covid-19