Some charts for perspective

The top investment banks in the country see US GDP contracting by at least 30% in the second quarter. With new lockdowns announced in major state economies yesterday, the hole will probably get deeper.

From a purely utilitarian perspective, this is the dumbest public policy the United States has ever enacted (meaning the number of people negatively impacted is many multiples of the number of people helped).

This will be the first contraction in global economic activity since World War II.

That speculation that the US economy was going to return to trend… Not so much now.

I’ve never seen a chart like this before.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s