The Transcript 04.20.20
Click here to receive The Transcript every Monday Editor’s Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going. Succinct Summary: The modern economy has never experienced economic carnage on the scale of COVID19. US GDP is forecast to fall by 30-40% while unemployment is likely to rise to 20-30%. What matters though, is how long it lasts. A 30% rate of decline in production for a quarter is different from a 30% decline for a whole year. As public attention seems to turn from the virus to the economy, debate is on whether we will see a V-shaped recovery or not. There are lots of reasons why we are unlikely to see such a rapid recovery but there are also glimmers of economic hope. Still, the path of the economy seems to pale in comparison to the importance of the path of humanity.