Everything Bubble burst, we are now in a credit crisis, millions unemployed, and the economy ground to a halt.

The current index of economic policy uncertainty is like nothing we have ever seen before and we have to say that in a strong sense: not like 2008, not like 9/11, not like 1997/8 or 87. @SoberLook pic.twitter.com/jI162Fm0hn

— Adam Tooze (@adam_tooze) March 27, 2020

2008 – but all at once

MBS/CMBS#MortgageCrisis https://t.co/BaQhWcxehe

— Samantha LaDuc (@SamanthaLaDuc) March 27, 2020

Yields are negative all the way out to 6 months. pic.twitter.com/UJVPkKYACM

— Lisa Abramowicz (@lisaabramowicz1) March 26, 2020

Outflows from bond funds continue and every week there's a new record. As of March 25, investors had yanked $38 billion from investment-grade funds over the past 7 days, surpassing the previous week's record outflow of $36 billion.https://t.co/Sox4juqCzT pic.twitter.com/mFoMAyxz7y

— Tracy Alloway (@tracyalloway) March 27, 2020

https://twitter.com/VolatilityQ/status/1243517965062078464

Total Fed swap line take-up is around $200 billion currently: pic.twitter.com/kbH6Cxd5pa

— Nick Reece (@nicholastreece) March 27, 2020

We Continue To Be Headed Towards Great Depression Unemployment Numbers

“There was a relatively slow ramp up in unemployment in the beginning of the Depression. Here are the year by year unemployment statistics in the US:…

Newly Jobless Americans Worry About Making Ends Meet

Many of the millions of Americans bracing for life on unemployment benefits are doing so for the first time in their lives as retail stores, movie theaters, restaurants and other small business shut due to the outbreak.

Just Damage Containment’: Cost of the Coronavirus Shutdown Keeps Rising

…the largest single injection of federal cash into the economy in U.S. history — will do nothing to flip the switch back on for an economy enduring the swiftest paralyzation any major developed nation has ever seen.