Small businesses are responsible for about half of U.S. employment, half of gross domestic product, and 40% of total business revenue. They are key to recovery but investors have largely discounted the threat their struggles pose for the broader economy.
In 2006, Nouriel Roubini warned that the US housing market was about to collapse. Today, he predicts that the coronavirus pandemic has put the world on a path to a decade-spanning "Greater Depression."
The economy is in free fall but Wall Street is thriving and stocks of big private equity firms are soaring dramatically higher. That tells you who investors think is the real beneficiary of the federal government's massive rescue efforts.
The New York Times dramatically illustrated the enormity of the economic downturn on their front page Saturday, showing how job losses in the United States from April were the worst since The Great Depression with this stunning infographic.
The central bank said Thursday that the British economy could shrink by 14% this year. That would be the biggest annual contraction since 1706, based on the bank's own best estimate of historical data.
Because Disney is in so many businesses — theme parks, hotels and resorts, cruises, movies, television, streaming, retail — it will provide a nice case study of whether the coronavirus "changes everything" in the long run.
As the pandemic squeezes big companies, executives are making decisions about who will bear the brunt of the sacrifices. In many cases, workers have been the first to lose even as shareholders continue to collect.
France, Germany, Denmark, the United Kingdom and others are seeking to limit the scope of the economic downturn from the coronavirus by paying private-sector salaries. Can the United States do this too?
The length of almost two football fields, the cargo ship Jupiter Spirit arrived in Los Angeles' harbor on April 24 after an almost three-week journey from Japan, ready to unload its cargo of about 2,000 Nissan Armada SUVs, Rogue crossovers and Infiniti sedans in a quick, half-day operation.
In the aftermath of the coronavirus pandemic, productivity will be lower, households will be more risk-averse, and tens of millions of workers will endure lower earnings for the rest of their lives. And it could be worse if policy makers don't do more.