and workers have been through economic crises before. They know that each time the agony is different—and that each time entrepreneurs and firms adapt and bounce back. Even so, the shock ripping through the business world is daunting. With countries accounting for over 50% of worldin lockdown, the collapse in commercial activity is far more severe than in previous recessions.
Don’t be fooled by all this. In the last recession two-thirds of big American firms suffered a fall in sales. In the worst quarter the median drop was 15% year-on-year. In this downturn falls of over 50% will be common, as high streets become ghost towns and factories are shut. Numerous indicators suggest extreme stress. Global oil demand has dropped by up to a third ; the volume of cars and parts shipped on America’s railways has dropped by 70%.
What a nightmare! Good luck. I am with you in spirit!! 🤔
Yes; it is highly likely that a Cash Crunch is coming! Some well known economic experts are saying, 'Stash Cash - now!' Remember, during a Deflationary Cycle; 'Cash is King!'
Good. Human-devised systems need to work for the majority, NOT the .01% of the population who amass more wealth than they could spend in several lifetimes. BTW, what is the end goal of neoliberal capitalism?
Trueque
It will awaken us to our darkest secrets to change our thinking and be better beings all.of us I first
Coronavirus will change commerce and consumer behaviour.
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CalvinAyre the government now decides who wins
Very apt story on the current scenario
The bottom left 3x3 box on front page. Wow! We are indebted!!! U know you are reading timesofindia when Zoo alert needs more attention than Supreme Sacrifice of 5 Bravehearts who went down fighting. 2Thappad TOIEditor
It’s not as if the global economy has a pause botton. The shit down has unintended consequences for social and health outcomes that will weigh on a V-shape recovery. Supporting a rebound in economic activity will need to take these into account.
399,929 US cases compared to 82,809 in China. But China's population is 4.35 times the US population.The US has 1,214 cases per million people compared to 57.5 per million in China. The US has 21 x as many cases per capita.
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Source: Reuters - 🏆 2. / 97 Read more »