The US economy has gone from recession-proof to recession-bound in a month - Business Insider

That is set to change. The number of Americans who have tested positive for COVID-19 is rapidly rising despite a combination of under-preparedness, incompetence, and The coronavirus shock is different

While most people in this country do not face mortal risk from the virus, over-reaction or at the very least prudent measures to stop the spread of the virus in an effort to protect more vulnerable community members will substantially reduce economic growth. Slowing the spread of the virus will require mass behavioral changes from society as a whole, and those haven't started to take effect yet; too many Americans still think COVID-19 is being blown out of proportion. When they do realize that behavioral changes are necessary, specific sectors of the labor market will suffer dramatically, leading to ripples of lost income and demand across the country.

Last week, the OPEC oil cartel tried to cut output in the face of falling demand, but Russia refused to join the bloc's commitment to pump less. As a result, Saudi Arabia announced over the weekend they would increase production and try to undercut other producers.

pearkes

pearkes Opinion-schminion. That's all it is.

pearkes

pearkes

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside the US military's private jet fleet: Gulfstream, Boeing jets - Business InsiderThe military is one of the most robust operators of private jet aircraft, tasked with flying precious cargo vital to the national interest.
Source: BusinessInsider - 🏆 729. / 51 Read more »

US Treasury yield curve drops below 1%, big red flag for investors - Business InsiderThe entire US yield curve plunged below 1% for the first time ever. Here's why that's a big red flag for investors. Eagle4kw
Source: BusinessInsider - 🏆 729. / 51 Read more »

The coronavirus is setting the US economy on a path to blow up Trump's reelection bid - Business InsiderNow that coronavirus has hit the United States it looks like it'll do the most damage to the economy at the worst time for Donald Trump. lopezlinette lopezlinette I don't think so lopezlinette ...even though he got everything wrong?
Source: BusinessInsider - 🏆 729. / 51 Read more »