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Daily Reckoning/James Ricards/4-14-2020
“So when Ken Rogoff talks (or writes), I listen. In his latest article, Rogoff offers a dire forecast for the recovery from the New Depression resulting from the COVID-19 pandemic. He writes, ‘The short-term collapse… now underway already seems likely to rival or exceed that of any recession in the last 150 years.’ That obviously includes the Great Depression and many other economic crises. This is something you should really consider before you decide the coast is clear and it’s time to jump back into stocks.”
USAGOLD note: We cited this same Rogoff Project Syndicate article in the April issue of News & Views, our monthly newsletter. Ricards calls the coronavirus crisis the “blackest swan most people alive today have ever seen … a full-fledged global contagion.”