* Achieving herd immunity and bringing the coronavirus in check won't resolve all of the pandemic's economic damage, Carmen Reinhart, chief economist at the World Bank, said Tuesday.
* What began as a health crisis is creating "your classic balance sheet problems" and risks plunging the world into a dire financial crisis, Reinhart said on Bloomberg TV.
* "A rebound this year still leaves per-capita income below where it was before the crisis. Calling it a recovery is misleading," she added.
* The pandemic's length has placed outsized strains on the balance sheets of households, businesses, and countries, and mounting debt piles risk exacerbating the problem, the economist said.
Vaccine distribution is expected to bring an end to the coronavirus pandemic, but households and companies will still face severe debt pressures, Carmen Reinhart, chief economist at the World Bank, said Tuesday.
The pandemic is on the cusp of its one-year anniversary, and its fallout is expected to linger until well after cases tumble. What started as a health crisis is now morphing into "your classic balance sheet problems," Reinhard said.
Those strains threaten to keep the global economy from staging a full bounce-back in the near-term.
Read more ....
Update #1: Reinhart Frets World Faces Financial Crisis if Pandemic Lingers (Bloomberg)
Update #2: World Bank Head Sees "Quiet" Financial Crisis Brewing As Pandemic Lingers (Zero Hedge)
WNU Editor: She has been warning of an economic/financial crisis since October .... Top World Bank economist says coronavirus pandemic morphing into 'major economic crisis' (FOX News).
8 comments:
The "crisis" is caused by the "lockdowns" and even where they aren't implemented or enforced they are held over the citizens like a sword of Damocles to be wielded as the "experts" and our leaders see fit. These things sniffle economic growth creating an economic crisis.
Eliminate the lockdowns and the crisis is eliminated. As for the virus, it's bad enough. The government response makes things many orders of magnitude worse.
The lockdowns were the dumbest move ever made. They were/are an unforced error and a huge gift to adversaries such as China and Russia.
Government lockdowns are a government heist in commission.
It is the top of the hour. They will announce more elderly died like 2 or 3.
Some emergency.
Why AT comments are disabled
It is news to almost nobody who reads American Thinker that a political witch hunt is underway. Parties in and out of government are looking for excuses to suppress and destroy voices that oppose the left.
Плакат товарища тролля:
Ты лжец. Вы не разбираетесь в медицине и утверждаете, что являетесь дипломированным специалистом, так почему вы изливаете дерьмо? Бекауса, ты - российский актив, пытающийся навредить Америке ... Ебаная путинская шлюха !!
Odd. Very Odd.
No death count. It is all impeachment talk in the news. I guess no 80 year old with cancer, diabetes, or congestive heart disease died "with" COVID.
Since 1/6/2021 Andrew Cuomo of the stern mien and Mayor Lightfoot want to open up all restaurants.
So some politicians are worried about revenue and some people are saying "OMG END of the World! Mutation!
Politicians mouth the words "Science", but their actions speak of political warfare, spoils of war, and power.
One person died supposedly from COVID. They were old. There never is a consistent desire to report on co-morbidities or how many co-morbidities. No politician or apparatchik gives a damn. No, they want to open up the restaurants to get their revenue and power back.
The Lockdowns have done their damage to the president as they were intended.
Addendum: If you do not know what a person's biome looks like how can you determine if they died from one pathogen instead of another?
Governments around the World lie to us about covid
1. It likely came from China's Wuhan bio level 4 lab, where they work on that exact corona virus
2. The Chinese have destroyed evidence in and around the lab. The food market was just a diversion
3. The continued lockdown makes little sense. Either the virus is so deadly thar the lockdown is warranted even if it destroys economies, or it's not. What's clear is that many, many politicians have been seen without mask around people, including Democrats and republicans ..ie they are NOT scared!!! Instead, they use the opportunity to get rich on our backs, plundering the last bits of the economy and hope we are too dumb to notice or remember
It doesn't make sense
The politicians who are often elderly don't seem to be scared. All they do is focus on enriching themselves
My suggestion is this: get rid of all politixians and health officials involved in this crime against humanity: Xi and Fauci are on top of the list. And there's no hiding. I've war breaks out,they'll die first for their crimes against humanity
Yet they seem nonchalant. As if their death is not around the corner. They live it up.
Well.. Neither trump nor xi nor fauci or whoever did this to the Wotld will escape the wrath of the pepole.
Come clean now and your death will be quick. Keep lying and enriching yourself of our misery and the people will go medieval and torture you to death. That's a certainty. No money will protect you. Hitler did less than you.you're endangering the lives and well being of 7 billion people the get madder by the day. Come clean is my advice or live in hell on earth until your life is ended and you get sent to the real hell
"Come clean now and your death will be quick."
DUDE (4:29),
Are you trying to bring shit down on this site or commenters here?
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