Well... what do you know? And it appears the guy at the helm through all this just got voted out of office. Trump was treated the same way the Brit's treated Churchill.
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You may be shut inside your home. You may be out working a job but in fear of contracting the coronavirus. You may be mourning the demise of your neighborhood’s small businesses. You may be unemployed and unable to pay your rent.
And for the next few months, the situation may grow even worse.
But then get ready for the roaring ’20s.
UCLA economists issued an optimistic forecast Wednesday, predicting the U.S. economy will experience “a gloomy COVID winter and an exuberant vaccine spring,” followed by robust growth for some years.
“The ’20s will be roaring, but with several months of hardship first,” according to the quarterly UCLA Anderson forecast. “These next few months will be dire, with rising COVID infections, continued social distancing, and the expiration of social assistance programs.”
The forecast, which assumes mass vaccination of Americans will take place by summer, predicts that annualized growth in the nation's gross domestic product will accelerate from a weak 1.2% in the current quarter to 1.8% in the first quarter of next year, then to a booming 6% in next year's second quarter and consistent 3% growth each quarter thereafter into 2023.
“With a vaccine and the release of pent-up demand, the next few years will be roaring as the economy accelerates and returns to previous growth trends,” wrote Leo Feler, a senior economist with the forecast. “We expect a surge in services consumption and continued strength in housing markets to propel the economy forward.”
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