The economy not likely to become sick if consumers keep spending
March 3, 2020
The coronavirus is playing havoc with some business supply chains and stock markets, but a recession in the U.S. is unlikely unless American consumers suddenly begin to pull back on their spending. “The key is to watch big macro numbers rather than obsessively watching things tied to virus and supply chains,” Tara Sinclair, an economist at George Washington University, told The New York Times. “If people aren’t getting haircuts anymore, that’s a bad sign.”
Recent News
Qantas Pays $79M To Settle ‘Ghost Flights’ Case
Qantas is paying the biggest fine of its history to settle the reputational crisis.
Rue21 Files for Bankruptcy, 540 Stores To Close
Rue21 is the latest brick-and-mortar clothing retailer to file for bankruptcy.
Google’s Antitrust Trial Teeters On
Google’s landmark antitrust case against the Justice Department has reached its final stage, sparking concern across Silicon Valley. Prosecutors argue that Google’s dominance in online search and search advertising markets is illegal, while Google maintains its superiority. The outcome, to be decided by US District Judge Amit Mehta, could have significant implications not only for Google but also for other tech giants like Apple, Amazon, and Meta.
Virgin Galactic’s Unity Spacecraft Nears Final Flight
Virgin Galactic has announced that its Unity spacecraft is set to embark on its last commercial journey, marking a significant milestone for the company. The Galactic 07 mission, scheduled for June 8, will be the 12th and final flight of the Unity spacecraft before Virgin Galactic shifts its focus to its new Delta-class spacecraft.