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Why $2 trillion is barely enough for the coming unemployment spike, expected 20%+ GDP slow-down, and small business crunch
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Why $2 trillion is barely enough for the coming unemployment spike, expected 20%+ GDP slow-down, and small business crunch

Why $2 trillion is barely enough for the coming unemployment spike, expected 20%+ GDP slow-down, and small business crunch

Fintech Nexus Staff·
asset managementcovid pandemicfixed incomemacroeconomicssmall business
·Mar. 23, 2020·1 min read

Another heavy week. It is hard to find the right, or even the interesting, thing to say. I look at why the $2 trillion in US bailouts may not even be enough to stave off the economic damage. In particular, I am alarmed by the large and fast rise of unemployment claims (higher than 2008 peak), estimates that GDP may fall by 20-30%, and the broad impact on small business. Small businesses have 27 days of cash on hand, and power half of our economies through both employment and output. So how do we meet this challenge? What strength should we draw on in the moment of doubt to become the artists of tomorrow?

  • Fintech Nexus Staff
    Fintech Nexus Staff

    This piece was created by one of our content team members. Reach us at [email protected]

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