Evercore CEO Says Depth of Recession From Virus 'Unprecedented, Staggering'

[@TheJ000ker]

The stock market is the only casino in town since Vegas closed.

[@iBANGgears]

26 million ain’t even CLOSE to the real number. I work in the music festival industry & minimum 80% of my company hasn’t gotten through to unemployment yet.

[@millertoyal]

Omgoodness! (Clutches pearls)

[@diamondsndregs]

You're probably right. In an April 8th article on Curbed, a survey of 2,500 landlords and 7,500 renters found that 54% of renters had claimed they'd lost their jobs by the end of March. That's far beyond the numbers reflected in jobless claims. I think some will get back to work before long, but many will not.

[@pinnymusic]

Agreed

[@kimobailey2926]

@Martin Balber Correct get a job working for the essential services they are hiring !

[@ryanhannigar1255]

We’ve been scammed by an overhyped virus by a Chinese regime which faked videos and killed dissenters. Doctors CLAIM COVID; 40-60% False Positive w/ regular Flu & Pneumonia strains; Grandmas who have heart attacks are Claimed as dying of COVID. Fauci, Birx, etc all connected to Bill Gates. Gates has a fucking Patent, NWO-2020-060606 (WTF) on a “novel CoronaVirus” vaccine; he fucking funds the John Hopkins University (JHU) which ran the “Event 201” simulation in Late October going into November that projected ~65M deaths, “faith and trust restored in media & government,” and MANDATORY childhood vaccines. Shitlibs literally RELISH in this because it will “make Trump lose.” Remember when voting time comes to vote for the Biden dude who’s having media cover-up and claiming that a virus during an election year is “Trump’s fault!” for Obama-era funding going to the Wuhan biolab and the WHO being more concerned with funding trannies and changing the DSL to designate “toxic masculinity” as a mental illness. Small businesses will be ruined because “Liberals” BEGGING to get fucking MICROCHIPPED and to take MANDATORY VACCINES. The same John Hopkins University which held Event 201 SHATS out “real time” COVID infection and death “statistics.” Dr. Birx said America has “a very liberal view of COVID infections and deaths” and then on her beloved CNN interview fucking says “as per Gates F--Federal government guidelines...” Get out there and vote for who the media tells you to, fucking SHEEP! EMBRACE THE FEAR!! YOURE GONNA DIE 0.5% OF THE TIME AND ITS 3x WORSE THAN THE FLU TIME TO FORCIBLY COLLAPSE THE WORLD ECONOMY AND FURTHER CONSOLIDATE MONEY & POWER!! HOW LIBERAL AND PROGRESSIVE!!! BOW TO YOUR MASTER BILL GATES AND TAKE THAT VACCINE YOU WOULD *NEVER* SEE HIM STICK INTO HIS OWN ARM

[@nzonesportssocal2458]

6:30 - About sums it up - "We have no idea how the economy is going to evolve over the next 6-12 months." Honesty is contagious.

[@jonathanhains814]

You know that the market hates uncertainty even more than bad news, right?

[@Loenthall88]

I've listened now to various financial "experts" and I notice a curious avoidance of the word that most accurately describes this financial/economic debacle: "Depression."

[@gambit1357]

Likewise ...

[@sellmorehomesnow]

Yup.

[@peacefreedom4930]

A depression is a prolonged period of economic recession. A recession is at least 2 quarters of negative GDP growth. This will most likely turn into a depression. But to call it a depression right now would be predicting the future.

[@jonathanhains814]

I hear it all.the.time, but the difference between a depression and recession is typicslly duration, isn't it?

[@patmarco2251]

Typical corporate boss: very articulate with no substance whatsoever! Got nothing from his talk

[@johnnyboy7538]

you are very savage sir 😁😁

[@eoinoconnell185]

Really ? He's saying we're in serious trouble !

[@winstonsmith2079]

Everyone knows the economy is suffering a cataclysm.... except for the stockmarket. The stockmarket is on a lovely ski holiday.

[@charlitoadams777]

That's because most of the weight are in technology and Healthcare. If it was, let's say retail, it would be a different story. The stock market is not equivalent to the economy. Wouldn't surprise me if the dow Jones is above 30k by next year ( 2021)

[@oanagonzalez4653]

I don’t know about a ski holiday. You tend to go up and down a lot on ski holidays. The market is just up and staying put...

[@christianblackburn2199]

The stock markets is a reflection of FEAR and GREED. I play game everyday of the week.

[@propheticdreams8703]

Most investors moved money to bet against the stock market.

[@camerontaylor7471]

Terminator X that is the perfect explanation! Lol especially the Egyptian reference...

[@melanies1523]

Most small businesses fail even without this virus lockdown. Now it will be few that can survive going forward.

[@chappy9038]

This is straight out scary...

[@garyk.nedrow8302]

Schosstein is correct in all respects, but he is speaking of relatively large corporations and their advisors, like his own company. The shut down will cause major damage below that level, with smaller corporations and family businesses with relatively small cash reserves. The economic recovery will almost certainly take a year or more, and during that time, start up and entrepreneurial activity will be depressed by the lack of demand of all kinds, except perhaps in refinancing and restructuring of relatively large businesses. Small businesses and many retailers will simply go under, especially restaurants and hospitaity businesses, and the resulting unemployment may mean a very long recession for consumers, even if the major companies in the Fortune 500 fare reasonably well. The shut down has absolutely decimated the finances of middle America. It was a tragic mistake -- and totally unnecessary, even from a medical standpoint.

[@3lrancho]

So you think this country can withstand 6 million deaths if it went full blown at a 2% lethality?

[@yosuf815]

3lrancho it is 0.03% death rate, according to Dr. Erickson.

[@koninakonan1078]

when you fall of a cliff you die you do not recover

[@baderinwa1]

Konina Konan Great point!

[@fishtherapy100]

So when they decide to “switch on the economy” will there be any electricity? Is this stimulus or LIFE SUPPORT?

[@simpinainteasy680]

Now that i haven't been around people very much all the interactions are really obnoxious.

[@fishtherapy100]

Can you print an economy?

[@TheGratefulSailor]

Pitchfork time

[@rjw6487]

I'd expect that a CEO would use percentage numbers instead of absolute numbers. To compare absolute numbers from the great depression with today's unemployment rise and stimulus is questionable at best. Sorry, that makes him look not so smart...

[@davidfunke7578]

The question I ask, can we have a public works project fo replace our infrastructure. Provide safe modular car's in high speed rail. I need worker's, don't kill my workforce. Get this going NOW, NOT LATER.

[@philiscoolerthanu]

How long before the vernacular changes from "insert word" + recession" to The Greatest Depression? Maybe it's a good time to open the discussion to naming this period of human financial history. Let me offer a few gems: The Upper Decker, The Greatest Flush, The What you talking about Willis Depression, The Trump Dump, The Fed Royal Flush, The Doh!

[@jabberwocky534]

Hilarious.

[@peterloehr6119]

Phil H the Trump Slump!

[@Chris-gs7cq]

The Deep Depression

[@jbeihl1]

20 percent unemployment is a Depression not a recession

[@marytakahashi4275]

This may just force all those companies that reported record earning because they laid people off to the get there, to have to deal with the reality of an economy that naturally has highs and lows instead of using the firing of people as a stop gap and you can’t thin your workers anymore.

[@ayalmilo]

markets are about to break new highs and he s talking contrACTION WE ARE about to witness the fastest recovery in history no V no W but an I that is how i missed the 2008 crisis by listening to these guys

[@OroborusFMA]

Late capitalism has always been a house of cards just waiting for the wind to pick up. Welcome to hurricane season! This is a system that cannot stand - not economically, not politically, and least of all morally. This is the endgame of a mode of production. Only a post-capitalist logic can address these contradictions and crises.

[@OroborusFMA]

You'd have to give workers $2,000 a month for six months, MINIMUM - not a one-time check for $1,200. Come on!

[@alexanderleo6809]

Hard to use this time as an example for that since late stage capitalism has actually been social democracy or just straight socialism for big companies

[@SabbathSOG]

We're fucked.

[@saosaqii5807]

Where tf is my bear market at then

[@kicik5038]

Still waitingggg

[@supafob120]

Independence Day. 3 months of forbearance for mortgages, credit cards, loans etc, since March, then people must pay back in June. Guess what, they can't! Then banks will get hit in July.

[@12InchesUnBuffed]

why would you want a bear market? we'll lose our jobs man

[@sengvang3718]

@@12InchesUnBuffed job's will be lost in this regardless but atleast if the equity and housing market deleverages it will give the common man a chance to build wealth or buy a affordable home.

[@beepboopbeepp]

It's been 3 months just wait for it, nobody knows the real impact, and it may not be clear before many months down the road.

[@masonhancock5350]

Loving those everyday low prices!

[@TIMVESTMENTS]

I didn’t get anything out of this 12 min video lol

[@camerontaylor7471]

Tim Li Investing I knew I wasn’t with the title of the video which said everything that needed to be said... the world is going to shit! Do we really have to intellectualize it?

[@floridapremiercoatings699]

No sweat UNLIMITED QE

[@mikemcraith6934]

We will continue to do UNLIMITED QE , this is easy thing to do. Let's enjoy the time now!

[@mukul1310]

no worries fed got our back, brrrrrrrrrrrrrrr

[@rahulthukaram]

@Terminator X I guess you should read about hyper inflation that is already on its way when the economy opens...if we print that much money, then that 125k wont be worth 1.25$ once the economy opens again.

[@trentpetersen3072]

What ???? Market is at 24,000 and all the PRIVATE BANK FED had to do was print TRILLIONS and illegally buy ETF's while MILLIONS wait in EMPTY FOOD BANK LINES !!

[@jamesmorton7881]

The title . . .YOU ARE JOKING AROUND THOM.

[@386bill]

Population of us in 1929 was 121 million

[@myessyallyahamericus8405]

All corporations are going to lose their funding.

[@martinlutherkingjr.5582]

How? Is someone gonna take out the most powerful governments in the world?

[@ioannislazaridis4887]

A new Marshall plan is unavoidable.

[@Thats_my_opinion_so_chill]

It actually looks so evil 😳

[@makial007]

2:10 account for inflation ?

[@christianquintino8103]

If a "V" shape recovery why worry , this guy is very inconsistent

[@chinogixxer7506]

So who's propping up the S&P 500? Average Joe's about to lose their shirts, again?

[@martinlutherkingjr.5582]

Mostly traders. SPY fell at a record breaking rate and shorts have to cover eventually.

[@danieljay5493]

great point, foreign money looking for safety because the rest of the world is more screwed up,

[@davidlecker7460]

Marbles in the mouth-beebees in the mind-runs something?

[@JohnGalt6533]

30 million people unemployed... looks like a great time to buy into a stock market that was over priced 3 months ago and is only down %10 from that.

[@matthewmark7224]

stocks are making all time highs. the highs are not very far away.

[@Fluvanna]

GG everybody.

[@Heraclitus___]

lol

[@karlmcglue9946]

Stop stealing energy

[@davidmack4495]

buy inverse ETF's...

[@CelonixCleaningServicesLLC]

Bitcoin: Hello Everybody!

[@tw3235]

AND THINK, trump and his admin. had a big part in the shit storm.

[@antpoo]

tw lw total bullshit!! How about you actually THINK for once!!

[@stephanieli2669]

tw lw be careful...everyone of these videos are packed with trolls! Any comments showing dissatisfaction with the orange guy will stir up a lot of nasty responses. And I'm expecting this comment to be attacked as well.

[@antpoo]

Stephanie Li ha ha, your right. Someone has taken offence that I’m a “Trump lover” 😂🥰

[@amyy3266]

China and America both together had lot to do with it. Trump on the other hand clueless!!!!

[@vcoonrod]

China did this.

[@anthill7774]

"Great Recession"...I think he means the Great Depression.

[@imfree195]

two different things, gr was 2008

[@kanewaterworth3711]

what about 5G?

[@cardenas262002]

From the 08-09’recession the S&P500’is still up over 400%, it’s time in the market not TIMING THE MARKET.. don’t listen to some day sayers just save $$ people as much as you can

[@mns8732]

Reluctantly I think the consensus has to realize that Obama handling of his economic recovering is peanuts compared to Trump's challenge. So, what else did Obama do during eight years?

[@artnouveau4332]

He would have been able too do more if not for the republicunt's with Moscow mitch stonewalling any and all bills put up for a vote

[@antpoo]

Trump 2020! Hillary for prison, Biden for the Nursing home 😂👍

[@robertn2951]

And you to the madhouse?

[@gorthorki]

NASDAQ AT 10K BY THE END OF JUNE BABE. DON'T LISTEN TO PERMABEARS.

[@chinogixxer7506]

Unfortunately, I agree with you. This sucks because I had just gotten such great position in the markets a year ago

[@fishtherapy100]

gorthorki based on what?

[@anthonyfam5469]

June 2021. Not this June.

[@charlitoadams777]

@@fishtherapy100 Just look at the top 10 stocks that have the most weight in the nasdaq.

[@rawirihemi27]

And that is exactly why it should fail.