by Pam Martens and Russ Martens
Wall Street on Parade
For want of a mask the largest economy in the world has been gutted, with Goldman Sachs now projecting that U.S. GDP could contract by as much as 24 percent in the second quarter.
New York City, a major contributor to U.S. GDP, is now the epicenter of coronavirus cases in the U.S. We saw this as a likely outcome from the moment that we learned that droplets could be spread from person to person through the air.
According to the Center for Sustainable Systems at the University of Michigan, “the average population density of the U.S. is 87 people per square mile.” But in New York City, “the population density is 27,012 people per square mile,” far greater than any other major city in America.