If This Coronavirus Hasn't Concerned You Yet, To Date, This Could. Maybe Should

Wonder why the Dow and markets keep sinking, crashing, day after day for the last few weeks?

This might be it.

Coronavirus could force the world into an unprecedented depression

A bit from the article:

In its latest repricing of the economy, the market sees the now-expected global recession caused by the coronavirus outbreak morphing into an economic depression unlike any the world has seen in generations.

The big picture: Bankers and traders are looking to sell everything that isn't nailed down to boost cash positions and hunker down for the worst.

What they're saying:

• JPMorgan wrote down its expectations for global GDP to -1.1% in 2020, expecting the world's economic growth will reverse for the full year, including a second quarter contraction of -14% in the U.S. and -22% in the eurozone.
• Deutsche Bank economists foresee a "severe global recession occurring in the first half of 2020 ... quarterly declines in GDP growth we anticipate substantially exceed anything previously recorded going back to at least World War II."
• Both banks noted their forecasts are based on governments putting in place massive, yet-to-be-passed fiscal stimulus programs and fairly swift containment of the outbreak.
• "It is easy to imagine a still worse outcome," DB analysts, led by head of economics research Peter Hooper and seven chief economists, wrote.

The most dire warning came from Pershing Square Capital Management CEO Bill Ackman, who went on CNBC to beg President Trump to shut down the U.S. economy for 30 days and put the country in a nationwide lockdown.

"Until a vaccine is manufactured, distributed and injected we will go through a Depression-era period in the country," Ackman said. "America will end as we know it unless we take this option."

And here I was just anxious about the conornavirus.

Silly me.

Thank goodness we have good, strong leadership coming out of the White House and this Republican Party President and his administration.

Right?

Link:

The coronavirus economic pain in the U.S. has begun