Mass Store Closures and the Economic Ripple Effect! IMF Warns Collapse Worse Than Feared

Before 2020, we were watching massive monetary intervention for what they told us was no reason really, just a technical adjustment. The Repo Crisis is still going on today but it’s old news so nobody dares to cover it for lack of clicks and views. Fast forward to 2020 and we have witnessed a huge decline in the global economy at a rate not seen in a hundred years. And their response? We need to print more money. Oh that’s not a good sign.

 

The Fed said it could supply the economy with $2.3 trillion. It hasn’t come close so far

www.cnbc.com/2020/06/24/the-fed-said-it-could-supply-the-economy-with-2point3-trillion-it-hasnt-come-close-so-far.html

IMF: global economy to contract with coronavirus recovery slow

www.cnbc.com/2020/06/24/imf-global-economy-to-contract-with-coronavirus-recovery-slow.html

IMF says global economic collapse caused by coronavirus will be even worse than feared – The Hour

www.thehour.com/business/article/IMF-says-global-economic-collapse-caused-by-15362593.php

IMF Global Recession Outlook: 2020 GDP Shrink 4.9% on Coronavirus – Bloomberg

www.bloomberg.com/news/articles/2020-06-24/imf-forecasts-deeper-global-recession-from-growing-virus-threat

WTO | 2020 Press Releases – Trade falls steeply in first half of 2020 – Press/858

www.wto.org/english/news_e/pres20_e/pr858_e.htm

Austria’s 100-Year Bond Pays 0.88% Interest. That’s Normal Now – Bloomberg

www.bloomberg.com/opinion/articles/2020-06-24/austria-100-year-bond-pays-less-than-1-interest-it-s-normal-now

The Second Great Depression – The Atlantic

www.theatlantic.com/ideas/archive/2020/06/second-great-depression/613360/

Fitch Downgrades Canada’s Ratings to ‘AA+’; Outlook Stable

www.fitchratings.com/research/sovereigns/fitch-downgrades-canada-ratings-to-aa-outlook-stable-24-06-2020

GNC Accelerates Store Optimization and Growth Strategies | GNC Holdings, Inc.

gnc.gcs-web.com/news-releases/news-release-details/gnc-accelerates-store-optimization-and-growth-strategies

NYC Considers 22,000 Job Cuts to Save $1 Billion, Mayor Says – Bloomberg

www.bloomberg.com/news/articles/2020-06-24/nyc-considers-22-000-layoffs-to-save-1-billion-de-blasio-says?utm_medium=social&cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_content=business&utm_source=twitter

U.S. Targets $3.1 Billion of EU and U.K. Imports for New Tariffs – Bloomberg

www.bloomberg.com/news/articles/2020-06-24/u-s-targets-3-1-billion-of-eu-u-k-imports-for-new-tariffs