First, the coronavirus pandemic slammed a world economy already hobbled by trade wars, crushed the travel industry and sparked fear among American households and CEOs alike. Cruise ships, airlines, hotels, sporting events and concert halls are all in the line of fire. Then, oil prices suffered an historic collapse that threatens to set off a wave of US bankruptcies and layoffs in the energy sector, further denting business spending.
, told clients on Sunday. The firm, one of the world's largest asset managers, warned of a "distinct possibility" of a technical recession in the United States, defined as two consecutive quarters of negative growth. joined other firms by saying the Federal Reserve will have to slash interest rates back to zero and re-launch its 2008-era bond-buying program. Warning lights are flashingAnd that warning came even before chaos descended upon the oil markets. Russia's refusal to cut production prompted a ferocious response from Saudi Arabia, which vowed to flood the market with excess supply.
Might as well be now, because it would have happened naturally like it does in all 2nd term Republican Administrations.
35 yrs of nightmares omg sure miss all the peace in our country (USA) 35 yrs before!now is destroy time!but yes who ask for this!more shall come our way! Just the tipof the iceberg gift fr china!
Global recession is beginning.
Just shows Trump doesn’t control the economy the way he says he does.
And you all at CNN couldn’t be happier
That literally everyone saw coming
We that have brains, did see it coming. It's like clockwork; nothing to see here other than the DS attempting to fuck w an election. Landslide coming in November. Eat glass and may you have crying towels available this time.
Unless Trump is secretly king of Saudi Arabia and president of China, you can't pin this on Trump.
You can jump out of a plane w/o a chute and pretend you're flying right up until impact.
Covid_19_coronavirus_vaccine
Hello? History? Tariffs worsened the Great Depression and Trump started his trade war with them. It was like dropping an anchor on the American economy. It wouldn’t take much to bring on a recession. If it wasn’t a pandemic (which also happened before) it would have been a war.
'few saw coming' 'the longest-running bull market' Something either wrong or lazy in this copy. Never under-estimate greed. Always over-estimate common sense.
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Source: CNBC - 🏆 12. / 72 Read more »