But given the flailing policy response so far, the chances of a far worse outcome are increasing by the day.
- Nouriel Roubini
- Project Syndicate
NEW YORK – The shock to the global economy from COVID-19 has been both faster and more severe than the 2008 global financial crisis (GFC) and even the Great Depression.
In those two previous episodes, stock markets collapsed by 50% or more, credit markets froze up, massive bankruptcies followed…