The bank’s analysis showed growth would recover slowly from the second quarter, “with negative growth rates in GDP extending well into 2021,” Chief Financial Officer Paul Donofrio said.
A global recession is poised to set in, and Ted Bauman said it could be the worst any of us have seen in a long time.
Last year, 150 million workers spent all year producing a GDP of $20 trillion. But this year, already, 17 million people have filed for unemployment benefits.
The fix is not exactly in. But it’s close enough, investors figure. If the Fed puts its shoulder to raising stock prices, stock prices must rise.
Thinking happy days are here again on Wall Street may be short-sighted as investors should beware of a double-bottom coming to markets.
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