Virus recession? Top economist Ed Hyman sees zero US growth the next two quarters | Metals Mine

  • Virus recession? Top economist Ed Hyman sees zero US growth the next two quarters

    From cnbc.com

    Ed Hyman, a widely followed economist on Wall Street, said the coronavirus outbreak could end up causing a recession in the U.S. and slashed his U.S. GDP forecast to zero growth in the second and third quarters of this year “More cases are showing up in the U.S. and seem likely to be just the start,” Hyman said in his note titled, “U.S. Virus ‘Recession’” on Sunday. “Scope, severity, and duration are uncertain. How much it changes behavior in the U.S. is uncertain.” A fall in GDP in two consecutive quarters typically defines a recession. The U.S. economy grew 2.1% in the fourth quarter last year and ... (full story)

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here2there
Mar 2, 2020 1:03am
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Quoting axecap
{quote} ironic....you admit to doing what you accuse the writer of the article of doing....while doing it yourself.
Well, yes. I can't deny that. We all have our moments.
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here2there
Mar 1, 2020 8:22pm
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This is the type of fear-mongering that is crashing the markets and wrecking economies! It is important to inform, but to push fear and dread which leads to panic selling, and act like it is the end of the world, is totally inappropriate, and reeks of every foul smell of market manipulation.
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here2there
Mar 2, 2020 12:40am
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Quoting axecap
{quote} zero growth prediction for a couple of quarters is not an end of the world prediction... China is the largest manufacturer world wide...if their economy goes down by 7 %, which is the reality....what do you think that does to the rest of the world economy?
Ok, so I used some hyperbole.
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axecap
Mar 2, 2020 12:36am
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Quoting here2there
This is the type of fear-mongering that is crashing the markets and wrecking economies! It is important to inform, but to push fear and dread which leads to panic selling, and act like it is the end of the world, is totally inappropriate, and reeks of every foul smell of market manipulation.
zero growth prediction for a couple of quarters is not an end of the world prediction... China is the largest manufacturer world wide...if their economy goes down by 7 %, which is the reality....what do you think that does to the rest of the world economy?
axecap
Mar 2, 2020 12:45am
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Quoting here2there
{quote} Ok, so I used some hyperbole.
ironic....you admit to doing what you accuse the writer of the article of doing....while doing it yourself.
Blessed-man
Mar 2, 2020 12:56am
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"A fall in GDP in two consecutive quarters typically defines a recession"

This guy just redefined recession to suit his article, I thought Recession is 2 consecutive quarters in negative territory and not just a fall.

So if Q1 is 1.8% and Q2 comes in as 1.5% all from a 2.1% of last year Q4, then it is recession by his new definition

Some of these writers are just jokers
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BiteFX
Mar 1, 2020 6:05pm
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Meeeeeen, US virus recession? This man is so ao funny.
Then, let's see. Keep on deceiving people.
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Rakeem
Mar 2, 2020 12:54am
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Someone wants to depress the dollar, situation in Europe is much worse + emigration pressure!
Nobody talks about that!
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RazorFitch
Mar 1, 2020 11:55pm
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Great, keep these fears coming, its time to make money on the fear
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Follarwhite
Mar 2, 2020 4:03am
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Any country in forex market that faces crisis, is a monetary advantages to all other country. Economy crisis move the market
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Micc23
Mar 2, 2020 5:13am
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Question: is this CNBC economist Rooting for a recession? Or is Forex Factory (which has put out anti Trump articles in the past) rooting for a recession? Or Both?
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