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April 29, 2020 | Rosenberg: COVID-19 Recession is 10x Worse than 2008

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel ( Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog:

As stocks and junky debt rebound on the dream that central banks can buy enough of them to single-handily keep markets defying economic math and levitating speculative longs indefinitely…this clip offers some big picture.  The question is do workers, cash flow and the real economy matter any more?  Will this time be different?  Place your bets.

“​The world is facing another depression as the COVID-19 pandemic is set to weigh heavily on global economic activity, according to economist David Rosenberg.

If we call ’08 and ’09, the ‘Great Recession’, this is 10 times worse at any level. How is this just a plain little recession?” Rosenberg said.

“Depression is something that happens every century but the definition is that this will cause a secular shift in attitudes in terms of how we live, how we work and how we travel, and the approach toward debt and spending. This is going to be a long-lasting impact here.”

Here is a direct video link.

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April 29th, 2020

Posted In: Juggling Dynamite

One Comment

  • Darren says:

    It is not Covid that is weighing heavily on global economic activity. There was no evidence that the world economy should have been shut down. WHO, the funders of WHO, the media, the power tripping government & the sheep are weighing heavily on the world economy not COVID. It was not that long ago that the sheep in Nazzi Germany Hailed Hitler. Hitler wanted to lead the others follow. Human nature is Humane nature. The sheep toady hail WHO & Bill Gates instead of taking the responsibility to be independent thinkers

    It was time for the economy & markets to turn down regardless. The 90 year crash cycle is due to bottom in 2022

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