Tuesday, March 17, 2020
Recession
Throughout the country, people have been stocking up on food, sanitation products, and protective gear - large-chain suppliers have been rapidly running out. These frantic buying practices have greater implications, however, beyond a shortage of paper towels: they are leading the U.S., and potentially the world, into the next recession. On a very concrete level, the buying purchases of most countries in the world have drastically shifted - protective gear is in massive demand, and our use of transportation and entertainment is shrinking rapidly.
Goldman Sachs, for one, predicts economic downturn until April, but that's only if our current self-quarantine is sustained for the next few weeks. With President Trump predicting that it'll take until summer for the pandemic to "wash over" the country, the economic future is unknown.
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