Case against him to be dropped. Those are your headlines my colleague your heart will be here in an hours time with another look at the headlines i want to argue International Stay with us. The low end welcome to cross top where all things are considered on people about economics is called the dismal science for reason it is often imprecise and almost always open to see what you want to see in many ways economics remains in our however the Economic Situation sets us all know is much more than about our its about the way we. Will live for this foreseeable future are we witnessing a recovery if so what kind of. Discussing the economy and more im joined by my guest daniela de Martino Bucci is an daoist she is the c. E. O. And chief strategist for Quill Intelligence a research and a linux firm she is also the author of fed up an insiders take on why the Federal Reserve is bad for america as well as they call mr Bloomberg View and in new york we cross to marshall are actually is a Research
Ride to the rescue and do things that its never done such as get into the high yield bond market and rescue companies that have been downgraded which is set off what we call animal spirits the likes of which weve never seen now we have individual that does this smallest of Retail Investors pumping up things like insolvent companies such as j. C. Penney and hertz that have actually declared bankruptcy filed for chapter 11 and yet investors in general are so convinced that because of the feds extraordinary actions to contain the al fall of the credit market of the credit bubble bursting that the fed no matter what happens is going to have their back with i mean thats like the fed choosing winners i mean is that really healthy for the economy because it again thats kind of an evolution i mean thats a choice its not really Market Forces as were always told to worship here i find. Really quite bewildering and what is the doing if youre buying Corporate Bonds i mean this is this is its not c
Right in. And we leave the program with the International Monetary funds announcement that the Global Economic downturn due to the corona virus pandemic will be worse than initial estimates. So compared to the april and Economic Outlook we are projecting a depot downtown in 2020 and a snow to company in 2021 to growth to 2020 is projected at minus 4 point one percent which is 1 point one percent is points below our april focused now this reflects the fact that in the 1st tough economic outcomes came in somewhat worse than we had anticipated and because there is no medical see you should we are expecting social distancing to persist for more for a long time into the 2nd half. And downgrading the growth forecasts for 2021 the i. M. F. Expects a growth rate of 5. 4 percent instead of earlier estimates of 5. 8 percent the fund is predicting an 8 percent contraction in the United States. Gates in 2020 while the eurozone economy will decline by 10. 2 percent brazil will take a 9 point one pe
Outlook we are projecting a deeper downtown in 2020 and a slower to company in 2021 to growth to 2020 is projected at minus 4 point one percent which is 1 point one percent points below our april focused now this reflects the fact that in the 1st tough economic outcomes came in somewhat worse than we had anticipated and because there is no medical see you should we are expecting social distancing to persist for more for a long time into the 2nd half. And downgrading the growth forecast for 2021 the i. M. F. Expects a growth rate of 5. 4 percent instead of earlier estimates of 5. 8 percent the fund is predicting an 8 percent contraction in the United States in 2020 while the eurozone economy will decline by 10. 2 percent brazil will take a 9 point one percent hit with the economy of mexico shrinking by as much as 10. 5 percent just this year now the Organization Also pointed to a catastrophic toll on the labor market due to the pandemic saying there klein in work hours for the 2nd quart
Are projecting a deeper downtown in 2020 and a c. E. O. Of a company in 2021 to growth to 2020 is projected at minus 4 point one percent which is 1 point one percent points below our april focused now this reflects the fact that in the 1st tough economic outcomes came in somewhat worse than we had anticipated and because there was no medical see you should we are expecting social distancing to persist for more for a long time into the 2nd half. And downgrading the growth forecasts 242021 the i. M. F. Expects a growth rate of 5. 4 percent instead of earlier estimates of 5. 8 percent the fund is predicting an 8 percent contraction in the United States in 2020 while the eurozone economy will decline by 10. 2 percent brazil will take a 9 point one percent hit with the economy of mexico shrinking by as much as 10. 5 percent just this year now the Organization Also pointed to a catastrophic toll on the labor market due to the pandemic saying their client in work hours for the 2nd quarter wil