The Worst Global Recession in 80 Years Is Here. Where’s the Bottom?

Prospects for a quick global economic recovery from the COVID-19 pandemic are officially dead, with all major international financial institutions and private forecasters now projecting huge cumulative losses and an uneven, prolonged climb out of the world’s steepest recession in 80 years. Economic models have proven incapable of dealing with uncertainties and discontinuities of the current unprecedented global lockdown. But even though magnitudes vary, recent forecasts are headed in the same direction -- down. ...