COVID-19 Are We on the Verge of a Global Financial Collapse

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Money has been moving like lava through the economy for almost two months now amid the coronavirus shutdowns resulting in millions of layoffs, which some bank officials like J.P. Morgan’s Bob Michele, say will keep unemployment high for at least a decade.

The bleak prediction comes as the April jobs report, published today, reported that 20.5 million people joined the ranks of the unemployed. If we consider a study done by the Economic Policy Institute, the real figure could be twice larger.

 

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