This is adapted from a longer version of an article published earlier. Please read at oureconomist.com.
The outcry of the Great Recession was still being heard even after a decade. The three phases of Quantitative Easing performed to help recuperate the United State’s economy, overinflated the debt owed by the U.S government. Worse, the underlying financial structural problems were never addressed, which made a bigger crisis inevitable. The shock from COVID - 19 has caused the U.S economy to nosedive at an alarming rate and levels unseen from the Great Recession and even the Great Depression. The severity and uncertainty of the crisis amid a precarious economic bubble may soon prove to be the final nail in the coffin. An L - shaped greater depression over this decade is likely to materialize, shattering the financial structure more than ever. Ominous signs from fragile economic structure threaten a lost decade.
Picture source: news.tradimo.com