by Michael Snyder
The Economic Collapse Blog
As America slowly but surely shuts down from coast to coast, everyone is acknowledging the fact that we are heading into a very serious economic downturn. Originally, many experts were warning that this coronavirus pandemic could spark a recession, but now some are actually starting to use the “d” word. Yesterday, I wrote about the government planning document that envisions an 18 month pandemic, multiple “waves” of infections, and “critical shortages” of important supplies. If that scenario actually plays out, what we will experience will be far, far worse than the “Great Recession” of 2008 and 2009. So let us hope that a way can be found to slow down the spread of this virus.
At this point, many of our top minds are fearing the worst. On Thursday, former White House economist Kevin Hassett warned CNN that we could actually see a repeat of the Great Depression…