Opinion: Americans need money — not more reasons to spend — or the coronavirus recession could be even worse

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As coronavirus cases outside of China grow, the template for the current bear market that seems to fit best is what happened to stocks after 9/11.

A review of The Transcript, which is a compilation of earnings calls, solidified this idea. Consider:

•  “We have therefore made the assessment that COVID-19 can be characterized as a pandemic. Pandemic is not a word to use lightly or carelessly…Europe has now become the epicenter of the pandemic with more reported cases and deaths than the rest of the world combined apart from China” — WHO Director-General Tedros Adhanom Ghebreyesus

•  “Daily life has come to a halt, it certainly appears if you are a human being on this planet.” — Korn Ferry CEO Gary Burnison

 

•  “I think this event is very similar to 9/11 in terms of the psychology of what’s driving it. It’s a fear based event” — JetBlue Airways CEO Robin Hayes

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