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Some economists predict "deliberate suppression of economic activity" to continue at least
Posted on 4/6/20 at 9:25 am
Posted on 4/6/20 at 9:25 am
through the end of the year.
The economic ramifications of this shutdown are fricking horrendous. It needs to end as soon as possible.
LINK
quote:
Aggressive suppression measures could lead to a gradual resumption of activity that begins in some places as soon as May, several experts said. But business as usual might not come back until a vaccine is developed, which could take more than a year.
“We should certainly be prepared for a meaningful level of deliberate suppression of economic activity for the rest of the year,” said Jason Furman of Harvard University, who was a top economist under Mr. Obama.
The Congressional Budget Office wrote on Thursday that it expected at least a quarter of the current suppression measures to last through year’s end, and that the unemployment rate could still be 9 percent at the end of 2021. Lawmakers need to be ready to keep filling the void, with support to businesses and workers, said Karl Smith, the vice president for federal policy at the Tax Foundation in Washington.
“The possibility of an unofficial quarantine for weeks or months after the official one is lifted is real,” Mr. Smith said. “After that, my guess is that the economy is in major trouble.”
The economic ramifications of this shutdown are fricking horrendous. It needs to end as soon as possible.
LINK
This post was edited on 4/6/20 at 9:27 am
Posted on 4/6/20 at 9:26 am to DmitriKaramazov
If you’re scared of this virus you are cringe
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