IMF Chief: Pandemic Will Cause ‘Worst Economic Fallout Since the Great Depression’

The head of the International Monetary Fund has issued a grim forecast about the world economy. As deaths from Coronavirus grow, most countries will also face a deep recession.

IMF chief Kristalina Georgieva said that almost all of the organization’s 189 members will see living standards decline this year. She said the economic effect would be the worst since the 1930s. read more

Experts Say Trump is Wrong About Increased Suicides Due To Closed Economy

If you feel like you are in a crisis situation, and need help or someone to talk to, call the National Suicide Prevention Lifeline, at 1-800-273-TALK (8255).

One of the reasons why President Donald Trump wants to end social distancing practices set up in place to deal with the coronavirus pandemic is to stave off an increase in the rate of suicide, brought about, he claims, because of an economic recession due to businesses being shuttered down. read more

Odds of a Global Recession “Are Close to 100 Percent,” Says Former White House Economic Adviser

Speaking on CNN, former chairman of the White House Council of Economic Advisers Kevin Hasset said a global recession is imminent, with a loss of 1 million jobs in April.

“I think that the odds of a global recession are close to 100 percent right now,” Hassett said. “I think in the U.S., we’re going to have a very terrible second quarter. At The Lindsey Group, we just ran the numbers carefully over the weekend, and we think the second quarter will be about minus 5 percent.” read more

Democrats Must Resist Recession Narrative and Critique Narrative of Trump’s Economic Success

This week’s stock market antics and the occurrence of an inverted yield curve have provided compelling evidence portending another economic recession.

These economic indicators, in addition to spurring stock sell-offs and turbulent market volatility, also sparked a firestorm of debate and commentary regarding how a potential recession would impact Trump’s 2020 re-election bid. read more