(E) The 2020 Covid-19 Recession = No Cash Flows + Furlough + Layoffs. Companies, and in particular small businesses, that have no cash on their balance sheets are suffering, and so are their employees.
CNBC reported today that Goldman Sachs has revised its previous forecast, from March 20th, regarding the impact of the coronavirus on the US economy. The financial firm is now forecasting “the jobless rate reaching 15% and the GDP sagging by a record 34% in the second quarter. That will be followed, though, by a 19% rebound in the third quarter that would be the highest on record.”
Note: The picture above is some wonderful pastries from a small coffee shop in Menlo Park close right now because of the shelter.
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Categories: Coronavirus, Economy, Financial Markets