The economic writing on the wall is terrible

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When the U.S. sneezes, the world catches a cold. What happens when it has severe COVID-19?

WASHINGTON (Reuters) - During a blue-sky moment in 2018 near the end of a decade-long economic expansion, it was the United States that helped pull the world along as the extra cash from tax cuts and government spending flowed through domestic and global markets.

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The European Union is being stretched like never before too...
EU leaders say progress in virus recovery summit, but warn talks could still fail

BRUSSELS (Reuters) - EU leaders were making progress on Monday after three days of haggling over a plan to revive economies throttled by the COVID-19 pandemic, but Dutch Prime Minister Mark Rutte warned the discussions could still fall apart.

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If they don't get an agreement soon, talks will be postponed until next month.


GLOBAL MARKETS-Asian shares stumble ahead of EU Summit, U.S. stimulus talks

SYDNEY, July 20 (Reuters) - Asian shares were downbeat on Monday with oil and copper also soft, as a spike in global coronavirus cases hung over markets awaiting efforts from the euro zone and United States to stitch together fiscal stimulus plans to fight the pandemic.

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...the atmosphere is pessimistic...


Global GDP growth to contract 3.8% this year: S&P Global Ratings

We are learning that containing the coronavirus outbreak requires a sustained suppression of demand over time and global economic activity may never recover to pre-pandemic levels, says Shaun Roache, chief Asia-Pacific economist at S&P Global Ratings.

This number represents a guaranteed global recession. Depression to be determined.