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GRAPHIC-A (markets) journal of the plague year
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A (markets) journal of the plague year
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Updated Dec 18, 2020 | 14:43 IST
Indian economy 2020: The Great Lockdown 2020 did what the Great Recession 2008 could not: Indian economy entered an unprecedented technical recession with contraction in three subsequent quarters of FY21. Finance Minister Nirmala Sitharaman (Source: PIB) | Photo Credit: Twitter
The Indian economy wasn’t exactly in the pink of health when coronavirus struck. It had been cooling off since the fourth quarter (Q4) of the financial year 2018-19 (FY 2019).
Having lost world’s fastest-growing tag well before the pandemic in Q4 FY19, India’s gross domestic product (GDP) expanded at its slowest pace since the 2008 financial crisis at 4.2% in the financial year 2019-20 (FY20) which followed.
Why a Rise in Retail Trading May Signal Another Mania
A Booming Industry Outside of Traditional Finance
The coronavirus pandemic brought the global economy to its knees. The sudden stop of commerce rippled through all aspects of life, from travel to dining, and retail. The premise of social distancing – avoiding close contact to reduce the spread of COVID-19 – also prove antithetical to another aspect of life: professional sports. Advertisement
Like financial markets and retail trading, professional sports attract masses of individuals in all sorts of ways, springing offshoot industries in the process. One such ballooning industry is sports betting. Since 2018, when sports betting became legal outside of Nevada, American sportsbooks have handled over $22 billion in bets, garnering just over $1.5 billion in revenues.
Brace yourselves, winter is coming! It may be a harsh period for the United States, but much better for gold. Some of you may have seen snow this year already, but the astronomical winter is still ahead of us. Unfortunately, it could be a really dark winter. Instead of joyful snowball battles and making snowmen, we will have to contend with the coronavirus . The vaccines will definitely help (the first doses of Pfizer’s vaccine were administered this week), but their widespread distribution will begin only next year. So, we still have to deal with the pandemic taking its toll here and now – as the chart below shows, the number of daily COVID-19 cases is still above 200,000 in the U.S.
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