Are we facing “the worst economic contraction”? (IM 567)

The U.S economy is facing the worst economic contraction in the modern history. The unemployment rate is increasing in rapid face due to the coronavirus pandemic. More than 26 million American have filed for unemployment as the small and even large companies are running out of money as they couldn’t generate revenue.

When the economy opens, it’s sure that all of the people can’t get back to work as the number of employees has to be reduced as the growth of the company is declined. We can expect various companies shutting down as they are running out of money and on the other hand, we’re not sure when the economy reopens.

But there is always a hope of light in the future. We can get all the unemployment eradicated. We can get back the bullish economy. There is a hope that we can get back the better future.

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