"... inequality has been steadily increasing, while, as Branko Milanovic notes, the income of countries’ middle and lower-middle classes has stagnated ..."
"Here in the United States, there were 23,300 newly confirmed cases, and that represented an increase of over 2,000 from the previous 24 hour period."
"In this “autonomous zone”, demonstrators are passing out free food to everyone and they want to show the world that society actually doesn’t need any police."
"... we just learned that U.S. factory orders were down 22.3 percent in April compared to a year earlier…"
"... we continue to see Americans lose jobs at a pace that is far beyond anything we have ever seen before in all of U.S. history."
"The public doesn’t realize it yet, but many of the businesses that shut down over the past couple months are not coming back."
"There is also a cost to MMT we have yet to hear about from its proponents."
"Fox Business is reporting that Hertz is preparing to file for bankruptcy due to plunging car rental ridership."
"Unfortunately, there is a big difference between growth and prosperity."
"Some 1.6 billion workers in the informal economy, representing nearly half of the global labour force, are in immediate danger of losing their livelihoods due to the coronavirus pandemic, the International Labour Organization (ILO) said on Wednesday."
"We’re going to reopen in phases," Cuomo said. "Look at the regional analysis, make a determination, and then monitor whatever you do."
"The “Everything Bubble” lasted far longer than it should have, but now that it has burst the pain is going to be absolutely immense."
"Bear markets are always a reminder of lessons forgotten."
"What could possibly go wrong with “free money,” right?"
"The economy is dead on arrival, the pin to the grenade has already been pulled, the majority of Americans simply don't realize it yet."
"...more than 26 million Americans have lost their jobs during this pandemic so far."
"Everyone can tell stories – few of them are positive."
"In the declaration, Duckett states that “an economic disaster” has been created by Governor Grisham’s order defining ‘essential’ and ‘non–essential’ businesses which he says “unjustly dictates winners and losers by discriminating against small businesses and specialized retailers.”"
"...when the costs are being counted, there’ll surely be little left in the piggy bank to fund a UBI."
"They only focus on the ‘seen’ and ignore the ‘unseen’ effects of their policies, selling them to voters on that basis alone. This is the first rule of economic analysis."
"As a country, we will either live with the short-term pain of discipline or the long-term pain of regret."
"Goldman Sachs expects an unemployment rate of 16% or higher, levels not seen since the Great Depression."
While "the Goldman Sachs syndicate head" brags "of his record first quarter new issue revenues in bonds...People don’t have enough cash to put food on the table for their kids."
"Maintaining social distancing and stay-at-home recommendations should be something we each decide for ourselves rather than government mandates."