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30% market crash in less than two weeks and an impending Nationwide shutdown with predicted 20% unemployment is probably a collapse - or at least the closest we
by twomoretime 7y ago
30% market crash in less than two weeks and an impending Nationwide shutdown with predicted 20% unemployment is probably a collapse - or at least the closest we've been to one since the great depression. Especially combined with other indicators.
- curiousllama 7y agoThe S&P lost 50% in 2008, and we survived. Mnuchin did not predict 20% unemployment. "A Treasury official said Mnuchin was not providing a forecast but trying to illustrate the potential risks of inaction." (literally the 3rd sentence). https://www.cnbc.com/2020/03/18/mnuchin-warns-senators-of-20percent-us-unemployment-without-coronavirus-rescue-source-says.html https://www.cnbc.com/2020/03/18/mnuchin-warns-senators-of-20...