With the second wave of the coronavirus expanding, the retail, restaurant, entertainment industries – sports, movies and travel industries that opened up are now closing down, thus throwing more workers into the unemployed sector. In addition, there will be attempts at evictions during times when renters have no work. The resuming of in-class teaching in the fall will put teachers and staff over 50 at risk. The policies of the current political administration are far more likely to lead to a depression, rather than a “W” shaped recession.
Read Jack Rasmus