CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"

They will wind up extending unemployment benefits to unprecedented lengths too

no recovery from that.. catastrophic collapse, much worse than the virus would have done had everyone just went about their business the best they could, and let this run it's natural course 9as bad as that would have been). It's like they are committing mass suicide over fear and panic of this virus.

Well, first: FUCK GOLDMAN SACHS

Anyone see the movie Contagion? I forgot the scene. Listen to Laurence Fishburn and look who he is talking to. Anything look and sound familiar?

holy sheeeeitttt

i love this part:

Just five days ago, Goldman economists had expected the economy to trough with a decline of 5% in the second quarter


Talk about epic fail in forecasting





we're F'd!!!!!

Using Goldman Sach's track record at prediction,
We're headed for the glory days of prosperity!

well, when they shut down every fucking but mcdonalds and Walmart, which are probably the number 1 spreaders of any virus, then wtf do you all expect?

you all bitched and whined and now complain trump didn't shut it all down sooner... hope you all enjoy your brand new shit world.

I hope you can't pay your cell phone bills and they cut that shit off next.

The government will be issuing a third the country's paychecks for 3 months and bailing out the corporations they deem "too big to fail" .. watch that federal debt to GDP ratio spike up to 150% real fast as the GDP contracts.

How long until we have a currency collapse or hyperinflation?

[link to www.usdebtclock.org (secure)]

Well DUH didn’t take a rocket scientist to figure this out!

Goldman Sachs CEO gets 20% raise
[link to www.cnbc.com (secure)]

Despite the fact that we all hate it, we shoulda locked down everything immediately and firmly, and 2-3 weeks later all the covid would have died off on it's own without spreading new colonies to other people, and problem solved, we'd have been back to normal by now.

No moron, high risk people should be isolated. Old people, diabetics, high risk only.

Everyone else should go about their business.

Absolutely pathetic. 1000 times more people will die from the knock on effects of the new, greater depression.

Closer by the day and accelerating!

THIS IS THE GREAT GREAT DEPRESSION , 1929 RELOADED !!

Last Edited by TIO JUAN on 03/20/2020 10:01 PM

Hell, we will be wishing for the great depression.

Good, maybe they get hung!

House of cards crumbles. This will likely be our first legitimate depression since the 1930s. Does it last as long as that one did? Likely not. But still, -24% GDP growth is fucking insane and there is a chance thats underdone.

Goldman?! The guys fried 2008?! Hahahhahahah

Ok. Listen to them.

*from

More like 50%.

But black market economy is going to grow by 2000%.

Oy vey.

This time they really may HAVE to..
This had potential to be far worse than 08

Trump should use those projections (24% collapse in GDP) to rule out ANY shutdown or national quarantine.. because that would result in millions dying (including many young, just in the US)from severe disruptions (starvation, riots, mass looting, etc) of basic economic infrastrucure as everything would collapse (cascading uncontrollable collapse). Just bite the bullet during this temporary crisis and keep the economy going.. and deal with the virus, but don't let it destroy the country by doing stupid panicky things.

It doesn't take rocket science to recognize shutting down an entire nation will cause GDP to collapse.

things are going to change after this Corona virus pandemic goes away. Most likely you wont be working the same job anymore they will just reorganize. These temporary money infusions to sustain the economy are going to continue for a long time, i'm afraid.

What the fuck do you expect when you force everyone to stay home?

Is this the twilight zone? Why is fake news surprised that they blew this out of proportion and made businesses shut down? Of course the economy crashes

Its not rocket science

By them pushing this narrative proves it was their goal all along. Like people are too stupid to figure out that it was a forced crash. Everything was amazing until this “pandemic” conveniently hit right before elections