Pandemic pushed the US into recession- now official , analysis

[Zemomtum]

This I think will elongate and it is worth noting that this situation doesn't affect US only but global. Until there is a vaccine that is general acceptable, the situation might worsen which we don't want to experience in any capacity.

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[LogitechMouse]

Its expected already that most of the countries that are heavily affected by this pandemic will go into a recession.
They are the epicenter of the virus so its kinda expected that this will happen to them.
The Fed are continuously creating money, the debt of the US is increasing as always, unemployment rate is at its highest. No doubt that a recession will happen.

I don't know if this is related but I think that the election in a few months will affect the country in some ways.

[stompix]

I also don't any recession yet. Just a little job losses which is because of covid-19 that has also affected every country of the world.
The dollar is not showing weakness since this week, it has been getting stronger and more currencies are exchanged for the dollar, that is a positive sign for economic growth.

I'm one of the most optimistic guys around here but seriously, treating the crisis like this is beyond what I could ever say..
A little job loss? One in ten people being out of a job, taking into account the people who depend on them and can't work like children under 18 or older people is a catastrophe if it goes more than one year. As for the dollar getting stronger, it's getting stronger than the currencies of the nations who are in digging themselves in a deeper hole, compared to the euro it has lost 6% from the start of the year for example.

who are changing their currencies to USD?
mind clearing this one?because US is now printing more fiat just to sustain their economic needs.

The Brazilian real has lost 25% against the USD, the Turkish lira, the Iranian rial, the Russian ruble or the South African Rand are also down from 15-20%.
And those are countries with somewhat working economies, there are smaller countries that got hit even harder.

[Yatsan]

What do you guys think will happen to the US ? Will the recession continue to worsen ?

The case if the recession in US will continue to get worse will be dependent on the action they will engage on finding solutions to resolve their present problems whether economical, health and with regards to the employment rate of the country. No one can still assure what will most likely to happen for there could be possible response that the government is formulating to resolve the issue with concern of the recession happening in their country. If they will take immediate response and action on the issues contributing to the recession and resolve those in as soon as possible, then recession will not continue to get worse and we can see a recovery phase to arise in the middle of this pandemic.

[bryant.coleman]

I am not surprised. The total number of deaths from the COVID 19 pandemic has crossed the 1 million mark, and out of that more than one-fifth has been from the United States. In some of the countries (such as the United Kingdom and France), the peak stage is over and the number of new deaths are less than one-tenth of what they had during the peak phase. But in the US, the peak is not yet over. And in such a situation, it will be difficult to say when the economic recovery would start.

[Chrystora123]

This I think will elongate and it is worth noting that this situation doesn't affect US only but global. Until there is a vaccine that is general acceptable, the situation might worsen which we don't want to experience in any capacity.

The corona vaccine is still the item that is most expected to exist before 2020 ends, but until now the development of the corona vaccine has only reached 70%.  Currently, I see that many countries have started to relax their strict rules on community activities during this "PANDEMIC" period and prefer a new normal to save the economy.  the US government must work hard in dealing with the economic and health problems that are happening in their country to be able to avoid the possibility of the economy getting worse in the future..

[stompix]

And the recession is on its last legs, or at least that what they claim:

Economists surveyed by MarketWatch expect third quarter GDP will grow at a 25% annual rate as it snaps back from the worst of the shutdown, and they believe the fourth quarter will see growth at a slower 6% pace.

It will still end even with this well below 2019 levels but if indeed their predictions come true, it seems the worst is over, there is a bit of optimism in the markets also, the $ is back a bit reducing the rate from 1.19 to 1.16 against the euro. This might be an interesting first week of October when the real numbers come out, and I'm pretty sure both candidates will try to milk them as much as they can.

[Febo]

I am not surprised. The total number of deaths from the COVID 19 pandemic has crossed the 1 million mark, and out of that more than one-fifth has been from the United States. In some of the countries (such as the United Kingdom and France), the peak stage is over and the number of new deaths are less than one-tenth of what they had during the peak phase. But in the US, the peak is not yet over. And in such a situation, it will be difficult to say when the economic recovery would start.

The peak is not over since second wave is expected this winter. There should be 3rd wave end of next year but will be most likely curt by vaccine. What is problematic is that some countries although they tried could not do anything against first wave.

[BrewMaster]

The corona vaccine is still the item that is most expected to exist before 2020 ends, but until now the development of the corona vaccine has only reached 70%.

there is no way we could see a Corona virus vaccine within this year. at least not a real one anyways. first they have find a vaccine that works then they have to first experiment on lab rats (or similar animals) then there should be human studies among volunteers and finally start mass production.
this could easily take 1 year to 1.5 year if we are lucky.

[CarnagexD]

The corona vaccine is still the item that is most expected to exist before 2020 ends, but until now the development of the corona vaccine has only reached 70%.

there is no way we could see a Corona virus vaccine within this year. at least not a real one anyways.

Russia said that they will announce the first ever corona virus 19 vaccine this year but it was really shady AF. They did it themselves, even WHO are suspecting that it would cause more health problems once taken by an individual.

first they have find a vaccine that works then they have to first experiment on lab rats (or similar animals) then there should be human studies among volunteers and finally start mass production.

I've read some clinical trial results, and it's really bothering because it is inconsistent like there were 100 people being experimented and none of them show any side effects, then the second trial 50/100 of people did show any violent reaction from the vaccine. My guess about this pandemic? it would take 2 years before the vaccine starts to be mass produced ( not hoping lol )

this could easily take 1 year to 1.5 year if we are lucky.

Earlier hopefully, I already saw the every corner of our house.