Stock Markets show human emotions in real-time. People are in complete denial! 🥺
22 million Americans are out of work! Half of those jobs are not coming back any time soon.
Car Sales dropped from 17 million to 11 million from February to March and could be under 1 million for April.
Retail Sales dropped -.4% in February and -8.7% in March. 08 recession never seen a drop below -4% in one month.
Industrial production dropped -5.5% in March.
Oil prices crashed under 10$/barrel with many American Oil companies took loans out when Oil was above 40$/barrel.
International Monetary Fund forecasts a -5.9% decline in United States GDP growth in 2020 with 12+ months to get back to normal GDP growth.
Many still believe a quick recovery is very possible. Let me break your hearts. 💔The recovery will not be quick, but painfully slow.
COVID-19 recession is worse than 08 recession!
💡Many investors are still in denial, just give a few more weeks or months, investors will panic and stocks will fall further down!