Updated second quarter GDP forecasts

Other things of interest:

Contrary to the media narrative, there is zero mathematical correlation between the speed at which a state shut down its economy and the projected deaths from coronavirus. It never gets less funny to me when people start crowing about “science-deniers,” when their idea of science is just whatever their preferred media sources invent. Pretty much anyone who uses that catch-phrase is a jackass troll.

Sellers are delisting homes at a record pace

Unprecedented decline in consumer sentiment (consumer spending makes up the lion’s share of our country’s total economic output)

We are probably already past 20 million unemployed, IMO. Most people are quoting jobless claims, but not every unemployed person files for benefits. This is just their forecast for April, however. If the shutdowns continue through the summer, who even knows what the total will be.

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