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Worst Economic Downturn Since the Great Depression, Our Pandemic Summer, Big Labor Movement Coming?

Trump’s three-phase plan, plus twitter highlights…

Photo by Sonder Quest on Unsplash

***Please note that a posted link or tweet does not necessarily equal an endorsement of the author or the ideas expressed in the link or tweet, sometimes I may completely disagree with it, but nonetheless think it’s worth sharing for educational purposes. Thank you for your understanding.***

1. The Great Lockdown: Worst Economic Downturn Since the Great Depression — IMF Blog

Under the assumption that the pandemic and required containment peaks in the second quarter for most countries in the world, and recedes in the second half of this year, in the April World Economic Outlook we project global growth in 2020 to fall to -3 percent. This is a downgrade of 6.3 percentage points from January 2020, a major revision over a very short period. This makes the Great Lockdown the worst recession since the Great Depression, and far worse than the Global Financial Crisis.

From a few days ago in the IMF blog…so yeah, things aren’t great.

But there is some cause for optimism(?) in that if the pandemic fades in the second half of this year and effective financial policy actions are implemented, they project global growth to rebound in 2021 to 5.8%.

Here’s hoping, I guess.

AllSides Media Bias Rating: N/A

2. Our Pandemic Summer — The Atlantic

Ed Yong takes a look at how the nation must prepare for the country to reopen in the midst of this pandemic.

As I wrote last month, the only viable endgame is to play whack-a-mole with the coronavirus, suppressing it until a vaccine can be produced. With luck, that will take 18 to 24 months. During that time, new outbreaks will probably arise. Much about that period is unclear, but the dozens of experts whom I have interviewed agree that life as most people knew it cannot fully return. “I think people haven’t understood that this isn’t about the next couple of weeks,” said Michael Osterholm, an infectious-disease epidemiologist at the University of Minnesota. “This is about the next two years.”

AllSides Media Bias Rating: LEFT

3. America Is About to Witness the Biggest Labor Movement It’s Seen in Decades

Steve LeVine writes another great piece in Marker here on Medium

The question is what happens next. Are we watching a startling but fleeting moment for newly muscular labor? Or, once the coronavirus is beaten, do companies face a future of vocal workers aiming to rebuild lost decades of wage increases and regained influence in boardrooms and the halls of power?

AllSides Media Bias Rating: N/A

4. What’s in Trump’s three-phase reopening plan — Politico

President Donald Trump’s new guidelines for reopening parts of the country recommend states and localities confirm a two-week downward trend in coronavirus symptoms and documented cases before starting to ease lockdowns while assuring hospitals have adequate capacity and robust testing in place.

A quick overview of the Trump administration’s reopening plan.

AllSides Media Bias Rating: LEFT

5. Twitter highlights…

As always, thanks for reading. Please stay safe, stay inside, follow the guidelines, and wear a mask if you can.

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