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WORLDVIEW: Will the coronavirus kickstart a Great Depression?
Plunging stock markets suggest that many investors are pricing in a sharp recession. But could the coronavirus cause an economic depression?
The coronavirus is not only causing panic, hoarding, and generalised anxiety. It is also causing economic disruptions. Plunging stock markets suggest that many investors are pricing in a sharp recession. But could things get worse than that? Could the coronavirus cause an economic depression?
To be clear, at this point, the most likely outcome is that we will have a sharp, short recession. However, while that is the most likely outcome, there are worse possibilities.
Here's why some people think that this could be more than a general downturn.
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