The US economy is in a spot of bother

Thursday, 7 May 2020

The US virus lockdown and fiscal package has neither stopped the virus nor prevented mass unemployment. The fallout for SMEs and households is vast:

A failed lockdown means a very weak recovery because the dance to contain the virus will go on endlessly, leaving states and the private sector in a state of partial paralysis.

This has a second-round banking crisis written all over it.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.