The line at the unemployment office on West Charleston Boulevard stretched out the front door Monday morning, filled with workers who had recently suffered from layoffs. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
Stock Market’s 11-Year Bull Market, Ends on Coronavirus Upheaval.
The Dow Jones closed on
Wednesday on a near six percent decline.
Since the peak on
Wall Street a few weeks ago,
the Dow is down 20 percent.
Fears of a global recession intensified
as the World Health Organization
declared COVID-19 a pandemic
on Wednesday.
Before the outbreak intensified
just weeks ago, few economists
considered a recession remotely plausible.
Analysts were quick to
point to lawmakers and
the Trump administration.
If the Trump administration and Congress can’t get it together quickly and put together a sizable and responsible package, then a recession seems like a real possibility here, Mark Zandi, Moody’s, ‘The New York Times’.
The virus is beatable, but the measures that are required to beat it are economy killers, Ian Shepherdson, ‘The New York Times’.
While most agree that slowing
the rapid spread of COVID-19 is
the definite first priority.
economists say that
targeted industry stimulus
might prevent layoffs.
Cash payments might allow
hourly wager earners to keep spending
even if their hours are cut.
According to economists,
theses strategies could help
stave off a recession
While the last economic downturn had a dramatic impact on local casinos, most experts expect the industry will be better able to weather the storm during the next recession. (Mat Luschek / Las Vegas Review-Journal)