Coronavirus – The Aftermath. A Coming Mega-Depression…

On March 31, the FED predicted an alarming forecast: 32% unemployment and 47 million out of work for the next quarter as the coronavirus continues to spread. Bankruptcies, especially of small and medium-size enterprises may be spiraling out of control within a month or two. This would have a further domino effect on unemployment.

Goldman Sachs – GS (on 20 March 2020)

“sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24% Goldman Sachs economists forecast a historically sharp and swift recession, with second-quarter GDP sinking a stunning 24% after a 6% decline in the first quarter.” GS economist predict a further GDP decline of 5% in the second quarter

“Home lenders brace for up to 15 million US mortgage defaults.” So, says Bloomberg (April 2), adding that “Mortgage Defaults Could Pile Up at Pace That Dwarfs 2008”. Mortgage lenders are preparing for the biggest wave of delinquency in history

via Coronavirus – The Aftermath. A Coming Mega-Depression… – Astute News