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IMF Claims COVID-19 Crisis Has Now Caused Worst Economic Crisis Since The Great Depression

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One of the biggest concerns that has come about due to the measures the governments of states around the country have taken to try and flatten the curve of the coronavirus outbreak is the possibility of our economy tanking in a major way due to everything being shut down.

It seems those fears are not unfounded, as the International Monetary Fund is now claiming that the coronavirus pandemic has caused the worst economic crisis since the Great Depression.

Check out the details from The Washington Examiner:

Trending: Fauci Thinks It Is ‘Inexplicable’ That Texas Is Re-Opening Businesses, Ending Mask Mandate

“This makes the Great Lockdown the worst recession since the Great Depression, and far worse than the Global Financial Crisis,” IMF economic counselor Gita Gopinath wrote in the revised World Economic Outlook.

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That analysis projects a “cumulative loss” of roughly $9 trillion around the world, as billions of people have adopted social distancing practices to stop the contagion’s spread. The IMF projection assumes that “the pandemic fades in the second half of 2020,” but there’s no guarantee that the crisis will be so short-lived.

The IMF analysis went on to say, “The pandemic could prove more persistent than assumed in the baseline. Moreover, the effects of the health crisis on economic activity and financial markets could turn out to be stronger and longer lasting, testing the limits of central banks to backstop the financial system and further raising the fiscal burden of the shock.”

Despite the doom and gloom of their take on the economic consequences of the measures being enforced to stop the spread of COVID-19, the IMF are supportive of the “Great Lockdown” and the other social distancing measures being taken, calling them prudent tactics.

“Flattening the spread of COVID-19 using lockdowns allows health systems to cope with the disease, which then permits a resumption of economic activity. In this sense, there is no trade-off between saving lives and saving livelihoods,” Gopinath said.

There’s now a debate raging within the United States about whether or not to reopen the economy and how that should be done if that particular direction is chosen. Some folks are advocating for a slow reopen that still attempts to implement a lot of the social distancing measures as a means of compromising in order to help protect vulnerable folks from the virus’s spread as well as keeping the economy stable.

A lot of this would encourage herd immunity, which might be our only true defense against this evil scourge.

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Fauci Thinks It Is ‘Inexplicable’ That Texas Is Re-Opening Businesses, Ending Mask Mandate

Go home, doc. The adults got it from here!

John Salvatore

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Have you wondered yet how the flu just happened to magically disappear? That’s not opinion. It is fact, apparently. In the words of Matthew McConaughey’s character from “Wolf of Wall Street,” the flu is fugazi (it’s a woozy, it’s a wazzy…fairy dust). If you still don’t believe that people are assigned covid, then you’re not paying attention. Here’s a quick example, for ya: This author knows a person who went to get tested, the place ended up taking too long so she had to leave early (without being tested) – she later received a notice that she tested positive. Funny how that worked out, huh? Check out Fauci ripping Texas Governor Greg Abbott (R) for daring to get his state back on track… https://twitter.com/thehill/status/1367510351827369985?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1367510351827369985%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2021%2F03%2Ffauci-rips-texas-governor-reopening-businesses-ending-mask-mandate-video%2F From Fox News: Texas’s Republican Gov. Greg Abbott on Tuesday said he planned to open the state next week “100%,” roughly a year after the coronavirus pandemic broke out throughout the U.S. Abbott issued an executive order that rescinds many of the state’s previous orders, allowing all businesses in the state to fully reopen and revoking the statewide mask mandate as of next Wednesday. And in Mississippi… https://twitter.com/tatereeves/status/1366849019935412228?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1366849019935412228%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ftherightscoop.com%2Fbreaking-mississippi-also-stopping-mask-mandate-and-reopening-all-businesses-without-restriction%2F In honor of the upcoming baseball season, let us never forget the worst first pitch in…well…maybe ever! WATCH: https://twitter.com/bennyjohnson/status/1286441829643235328?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1286441829643235328%7Ctwgr%5E&ref_url=https%3A%2F%2Fwww.dailywire.com%2Fnews%2Fhouse-votes-to-remove-confederate-statues-justice-roger-b-taney-from-capitol

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Leaked Docs Show Migrants are Overwhelming Border Agents Thanks to Joe’s Policies

This is what 80 million people voted for!??

John Salvatore

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If you voted for a pro-choice, anti-American, beta male, weak-on-the-border presidential candidate last November, who hurt you as a child? Who taught you so poorly in your youth? Shame shame. From Axios: Fresh internal documents from the Department of Health and Human Services show how quickly the number of child migrants crossing the border is overwhelming the administration’s stretched resources. Driving the news: In the week ending March 1, the Border Patrol referred to HHS custody an average of 321 children per day, according to documents obtained by Axios. That’s up from a weekly average of 203 in late January and early February — and just 47 per day during the first week of January. The same documents, dated Tuesday, say the shelter system is at 94% occupancy and expected to reach its maximum this month. LOOK: H/T: Right Scoop

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