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41% Of Business Closures On Yelp Have Permanently Closed As V-Shaped Recovery Implodes

By Tyler Durden | 28 June 2020

ZERO HEDGE — President Trump’s economic COVID-19 response, through massive fiscal and monetary stimuli, was expected to generate a V-shaped recovery ahead of the elections. We noted, all along, there was never a snowball’s chance in hell that economic growth would revert to 2019 levels later this year; nevertheless, the labor market would fully recover.

If readers recall, President Trump has given several press conferences where he declared that the economy is quickly recovering: “We’ve been talking about the V,” the president said. “This is better than a V. This is a rocket ship.”

A new report via Yelp, tilted “Local Economic Impact Report,” debunks the V-shaped narrative and tells a much different story of slow reopenings and widespread permanent closures, all suggesting the economic devastation continues to crush the economy with no recovery in sight. […]

2 Comments on 41% Of Business Closures On Yelp Have Permanently Closed As V-Shaped Recovery Implodes

  1. “This is better than a V. This is a rocket ship.”

    Trump is so infantile.

    … nevertheless, the labor market would fully recover.

    How is that possible with 41% permanent closures in a certain/significant business segment?

    Anyway, Trump doesn’t/is too stupid to care — he has only/ever bellowed about 1) the stock market, and 2) minority unemployment.

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