corona virus: Nobel laureate economist claims economy will be even worse than 2008

New Delhi, Saturday, March 21, 2020

Joseph E. Nobel laureate economist Stoltz has claimed that the global economy will be affected by the Corona virus, and the situation may worsen with the 2008 economic downturn.

Prof. Joseph E. Stoltz, discussing this with the Huffington Post Italy, stated that the current situation is very bad, it is not an economic crisis but a real crisis.

In which supply and demand are badly affected, fiscal policy will not be enough, as interest rates are already very low in Europe, the same situation has happened in the US.

Professor Joseph Stiglitz teaches at Columbia University, when he was asked if we had been facing a dire financial crisis since 2008.

In this regard, Professor Joseph Styles said that the matter was worse, we faced the financial crisis in 2008, and at that time we knew what we were going to do.

According to Professor Stoltz, the current crisis is more serious, it is not only an economic crisis but also a more real crisis. This has led to the supply chain being broken.

In this case, the demand boom also does not solve the problem, those who are not going to work, they need financial help, small businesses are at risk.

He said that because of Corona, the US presidential elections in 2020 could also be affected, Professor Stoltz said that the US was not fully prepared to face Corona, that Trump had weakened America and that people would vote against Trump.