The Whole World Is On The Brink Of Global Recession

🇨🇦 Canadian households insolvencies rising

“Consumer insolvency filings are expected to rise through end of year as household support measures… have started to expire, while employment remains below pre-pandemic level”#Canada #economy #recessionhttps://t.co/lqVaxNiv0P pic.twitter.com/t5eHBeyOYV

— GnS Economics (@GnSEconomics) November 5, 2020

Euro-area economy is at risk of slipping back into a recession (below forecasts without)

GDP growth 2021 lowered to 4.2%. Risk of rising company failures and long-term unemployment.

🇪🇺#EuroZone 🇩🇪#Germany 🇫🇷#France 🇮🇹#Italy 🇪🇸#Spain #economy #recessionhttps://t.co/TChH0cDkgl pic.twitter.com/bkMaYxD1Zr

— GnS Economics (@GnSEconomics) November 6, 2020

#Indonesia Slips Into #Recession In Q3 https://t.co/NnXTS5DX0n

— BartDay (@BartDayCom) November 5, 2020

The #UK #economy is heading back into #recession https://t.co/8JC0S0Vsdn

— Oden (@Gjallarhornet) November 5, 2020

Double-Dip Recession Coming Soon Near You

Alternative, high-frequency data show that economic activity in advanced economies is dropping again

🇺🇸#US 🇯🇵#Japan 🇩🇪#Germany 🇫🇷#France 🇮🇹#Italy 🇪🇸#Spain 🇬🇧#UK 🇨🇦#Canada 🇳🇴#Norway 🇸🇪#Sweden #economy #recessionhttps://t.co/dPF0Poth9l pic.twitter.com/vfidTcJNJ3

— GnS Economics (@GnSEconomics) November 6, 2020

The @nytimes on Election Night four years ago:

"So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened."https://t.co/3qjTVxSLQb

— James DePorre (@RevShark) November 7, 2020

Stimulus creating a false sense of security

“There is real economic damage happening to several industries and the liquidity in the stock market and everything else is making it feel really safe"#economy #stimulus #recessionhttps://t.co/Xfng5UEJJb pic.twitter.com/ele5deCUvP

— GnS Economics (@GnSEconomics) November 7, 2020

https://twitter.com/ProfLucasWalsh/status/1323827987825848320

Commercial and industrial loans at all commercial banks decrease by $11.6 billion to $2.698 trillion in the week ended Oct. 28. See @federalreserve H.8 – Assets and Liabilities of Commercial Banks in the United States release tables in FRED: https://t.co/G25GBrXpY5 pic.twitter.com/DeZHEJWfla

— St. Louis Fed (@stlouisfed) November 9, 2020

The second wave of Covid and the new lockdowns all but guarantee the onset of a European banking crisis, of which possibility the World Bank recently also warned. #economy #pandemic #LockDown #recession #crisishttps://t.co/9PQ7aI2tsX

— GnS Economics (@GnSEconomics) November 6, 2020