‘This Is War’: Analysts Pile On As Virus Lockdowns Presage ‘Domino-Style Economic Collapse’

‘This Is War’: Analysts Pile On As Virus Lockdowns Presage ‘Domino-Style Economic Collapse’

"There’s no need for anybody in the country to hoard essential food supplies", Donald Trump told the media on Sunday. "You don’t have to buy the quantities because it’s hard to refill the stores". Trump had just spoken to Walmart, Whole Foods and Target, among others. The fact that Trump has to tell Americans to stop hoarding food speaks to just how rapidly the coronavirus situation has escalated in the US. A mere two weeks ago, it was "just the flu". Now, Americans are buying enough can
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5 thoughts on “‘This Is War’: Analysts Pile On As Virus Lockdowns Presage ‘Domino-Style Economic Collapse’

  1. NY Fed confirms the downturn, that was fast.

    “Business activity declined in New York State, according to firms responding to the March 2020 Empire State Manufacturing Survey. The headline general business conditions index fell thirty-four points to -21.5, its lowest level since 2009. The new orders index dropped to -9.3, pointing to a decline in orders, and the shipments index fell to -1.7. Delivery times lengthened slightly, and inventories increased. Employment levelled off, and the average workweek declined. Input price increases were little changed, while selling prices increased at a slower pace than last month. Optimism about the six-month outlook fell sharply, with firms less optimistic than they have been since 2009”

  2. ” Now, Americans are buying enough canned goods to last the next decade (and, based on my own anecdotal observations, enough paper towels to last several decades after that).”

    No shortage of booze anymore! Shutting all the bars and restaurants in my area sent a surge of unwanted spirits into the depleted and pillaged liquor stores.

    Whew that was a close one! Crisis over.

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