On Thursday’s edition of CNN’s “The Situation Room,” business analyst Richard Quest said that the United States is not likely on track for a recession at the moment — but that if the coronavirus outbreak explodes within the country, it could destabilize the economy into a tailspin.
“The 1,190-point drop today, the largest in the history of the New York Stock Exchange,” said anchor Wolf Blitzer. “Over the past week, the Dow Jones has dropped 3,581 points since last Thursday alone … could the U.S. economy now go into recession if the coronavirus spreads here in the United States?”
“Right, the qualifications of that is the last bit of your question: If it spreads in the United States,” said Quest. “At the moment, there’s no reputable economist that is forecasting a global recession or a U.S. recession if the status quo is maintained, i.e., periodic expansions of this with just a few more cases. However, if there was a full-scale outbreak and you start looking at large parts of the U.S. economy being shut down, no question about it. A recession would be on the cards.”
“And in fact, one other point,” added Quest. “This is the largest — this is the biggest week of turmoil since 2008. When, if you remember the market turmoil then, it got so bad that a recession almost becomes inevitable. We’re a long way from that. There’s a lot more fall still to come if it does get worse. But at the moment, I would say the market is flashing amber, with a hint of red, and getting ready for something worse.”
Black students brutalized by Atlanta cops call for ‘total reset in policing’ on CNN
The two black students who were brutalized by police in Atlanta went on CNN Wednesday to demand fundamental change from American police departments.
In an interview on CNN, students Taniyah Pilgrim and Messiah Young, who were pulled out of their car by Atlanta police and tased earlier this week, said that police behavior toward peaceful demonstrators shows exactly why protesters are taking to the streets in the first place.
Even evangelical groups were disgusted by Trump’s Bible stunt: former White House faith adviser
On CNN Tuesday, former Obama White House faith and race adviser Joshua Dubois said President Donald Trump's Bible photo-op in front of the church near the White House could backfire on him with his most critical voting bloc.
"I thought it was farcical. And it is kind of blowing up in his face even in the faith community and communities that support, him like some conservative evangelical communities," said Dubois. "The reason is Jesus stood up for everyday people, including the vulnerable, and didn't believe in false displays of piety, and yesterday President Trump ordered — or was okay with — everyday people being gassed and shot with rubber bullets in order to make his way to a false display of piety."
Former NBA player overcomes ‘crippling anxiety’ for protests: ‘We are tired of the tyranny of police’ and Donald Trump
Former NBA player Royce White overcame his anxiety to lead protests over the weekend in Minneapolis.
Speaking to CNN Tuesday, White noted that if only people listened to football star Colin Kaepernick, who peacefully protested by taking a knee during the "National Anthem" sung at games, this would not have happened. He was trying to raise awareness about police brutality and the disproportionate attacks on people of color at the hands of police. At the time, conservatives, including President Donald Trump, blasted him for the protest, ignoring the reason for doing it and focusing instead on how he refused to stand for the song.