BofA 🏦 The global economy is heading for its worst year since the financial crisis

Another news regarding Recession :unamused:

we the Pynk community covered before in Is there a global financial crisis headed our way in 2020? :fearful: and The Economic Impacts of Global Epidemics (Influenza) topics seems like 2020 will be a bad financial year.

What is your prediction? How you rate this news and Bank of America economist’s forecasting?

3 Likes

Wow @ZackofPynk …this will be for sure a tough year.
In Italy we are seeing for example the tourism balsted out by the virus oubreak. Just the 3 main hitted Regions (Veneto, Lombardia and Emilia Romagna) makes almost 50%of Italia yearly GDP…and we are stucked. This sucks!!

What a mess…we Italians make things trasparently when we should hide and hide on the things we should be transparent…:thinking::thinking::thinking:

4 Likes

Croatia also relies on tourism a lot, over 20% of gdp is from tourism and a few (3) people here have corona.
One of the first topics people started talking about is that we may have big problems with tourism if this keeps spreading.

4 Likes

The news here (US) lately, has been about preparedness. The hospitals have sections ‘in case’ they get corona patients. Tourism around the world is suffering, as well as manufacturing. This will have a huge ripple effect on business and the economy as we are seeing now with the DJIA and Nasdaq. It’s going to get worse before it gets better. The silver lining— invest now while stocks are lower!

4 Likes