2020-04-09
So, Recession or Depression?
The current situation is like nothing we’ve ever seen before. The most recent pandemics had nowhere near the same impact on the economy. The same goes for natural disasters, which, at the most, had just a local impact. Natural disasters may have devastated local economies, but they had a minimal impact on the global market.
It’s too early to say if we’re on the cusp of a depression or “just” a severe recession, but one thing is sure: the COVID-19 pandemic will have a lasting impact on everyone.
