As in 2008, the financial relief package leaves most Americans behind. It’s only a matter of time before it leads to an even bigger crisis.
by Nomi Prins
To say that these are unprecedented times would be the understatement of the century. Even as the United States became the latest target of Hurricane Covid-19, in “hot spots” around the globe a continuing frenzy of health concerns represented yet another drop down the economic rabbit hole.
Stay-at-home orders have engulfed the planet, encompassing a majority of American cities, all of India, the United Kingdom, and much of Europe. A second round of cases may be starting to surface in China. Meanwhile, small- and medium-sized businesses, not to speak of giant corporate entities, are already facing severe financial pain.