The speed and scale of the economic crash have drawn comparisons to the Great Depression. But this downturn should be shorter, former Fed Chairman Ben Bernanke and other economic historians say.
The so-called"Spanish Flu" pandemic killed an estimated 50 million people worldwide, including hundreds of thousands in the U.S. It also prompted some of the same"social distancing" measures we've adopted against the coronavirus, with shuttered bars, schools and churches.. And the U.S. enjoyed strong growth in the decade that followed.
Of course, no one's certain how long it will take for people to feel comfortable shopping or traveling again — or how many businesses and families might go under in the meantime.In 1918, government spending on World War I helped make up for some of the lost private demand, Frydman said. No one is advocating another world war.
"These stupid supply chains that are all over the world — we have a supply chain where they're made in all different parts of the world and one little piece of the world goes bad and the whole thing is messed up," Trump said during an interview with Fox Business this past week."I said we shouldn't have supply chains. We should have them all in the United States."
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