Washington Post: IMF says global economic collapse caused by coronavirus will be even worse than feared
The International Monetary Fund on Wednesday painted a bleak portrait of the global economy, saying the coronavirus pandemic has caused more widespread damage than expected and will be followed by a sluggish recovery.
The global economy will shrink this year by 4.9%, worse than the 3% decline predicted in April, the IMF said.
No major economy is escaping the pandemic. The U.S. economy, the world's largest, is expected to shrink this year by 8%. Countries that use the single European currency are headed for a decline of more than 10% while Japanese output will fall by 5.8%, the IMF said.
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WNU Editor: If a second wave does occur, even these terrible IMF projections will be regarded as optimistic. Unemployment numbers. Debt levels. Economic contractions. think nightmare scenario.
More News On The IMF Saying The Global Economic Collapse Caused By The Pandemic Will Be Even Worse Than Feared
IMF says decline in global growth worse than forecast -- BBC
IMF sharply downgrades outlook for global economy in face of COVID-19 -- CBC/AP
IMF predicts deeper global recession from coronavirus pandemic -- Reuters
IMF slashes forecast for the global economy, warns of soaring debt levels and unemployment -- NBC
Global economy will take $12tn hit from coronavirus, says IMF -- The Guardian
The recession is much worse than the IMF expected and the hit to jobs 'catastrophic' -- CNN
IMF projects 4.9% economic contraction as concerns mount over second wave -- Yahoo Finance
6 comments:
Gee, its almost as if they're hoping for the mother of all crashes.
/I wonder why would that would be.
What Russ said.
With flue there is almost always a second wave. This is corona not influenza, but more or less the same .There will be a 2nd wave. In my local area only one person out of a million under the age of 60 died. They were in their 50s and had co-morbidities.
Usually for high school in the Us you need 1 or 2 years of science and it would either be general science or biology. Seems like we are not teaching enough people biology including cellular biology and genetics or the assholes would not be zooming us.
I have never before seen a persistent in your face countdown on deaths for flu world wide like I see for corona. It is hype.
It is hype, anon. Consider the percents and the numbers are miniscule. I'm quite tired of this and have been for weeks now, paying almost no attention to all the hype and speculation.
I wear a mask, wash the hands after shopping, and use distance to the extent possible when out. Common sense stuff, I should think.
Obama VA in 2015: “Become a Kung Flu Fighter! Get Your Flu Shot!”
https://www.thegatewaypundit.com/2020/06/obama-va-2015-become-kung-flu-fighter-get-flu-shot/
Obama was kung flu fighting . He was fast as lightening.
The risk of a second wave is possible but is not the only one. The virus can mutate and let us with a vaccine for the previous one. Of course the worse is never sure, there was not second wave either of SARS nor of MERS. So, wait and see.
OK it goes like this
1. Nearly broke China just had to start payments@trade deal
2. Virus breaks out from Wuhan lab..judging by those freezers and lack of safety equipment and protocols the original photos (the Chinese released themselves to hail! their standards haha remember? I had better equipment in my level 1 university teaching lab)
3. China goes like"OK tell the World or don't and we all go broke and our shit fake economic data we have used to rob everyone blind for decades will not be noticed perhaps or we all go break@Fail forward.
..so bored of this. We know what it is. Let's just have the war with China if they treat us like this.
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