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BlackRock: Global Economy Could Contract By 11% In The First Half Of 2020

BlackRock: Global Economy Could Contract By 11% In The First Half Of 2020

Blackrock’s (BLK.N) managing director Amer Bisat gave the grim forecast of a world wide loss of $6 trillion in economic output due to the Chinavirus (COVID-19) pandemic. Bisat made his comments during a virtual panel discussion moderated by the Carnegie Middle East Center. Blackrock is a key player in the $2.2T CARESAct distribution of money to key industries will be managed by chairman Larry Fink.

Any prognostication on growth for Q1 and Q2 of the Chinavirus crisis is more of a guess than a solid projections at this point because there is no solid end date for the Biowarfare attack. A date of March 31 has been extended to April 30 but there is no sense of permanence to that date. Cascading economic collapse is just starting and will grow exponentially, just like Chinavirus contagion, throughout the society with every passing day.

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