Tim Buckley: These are unprecedented situations. We are residing with the uncertainty, stress, and problems of a international health disaster blended with an orchestrated financial shutdown.
We know the slowdown is not brought on by a structural problem, but we do not know how extensive it will final. Even epidemiologists cannot pin down when the virus will subside and we will return to some feeling of normalcy.
In the meantime, unemployment is surging and the financial facts will get worse. Prepare to hear double-digit unemployment quantities and important contractions in GDP—20% or extra for the second quarter.