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Big businesses batten down the hatches

by Lynde Langdon
Posted 3/19/20, 12:13 pm

Empty spaces throughout the country testify to the economic vacuum the coronavirus pandemic brought with it. The Simon Property Group announced Wednesday it would close all 200 of its shopping malls and outlet centers. Major automakers are shutting down their North American factories. And the New York Stock Exchange will lock up its trading floors and move to all-electronic trading on Monday. The number of Americans filing for unemployment surged last week by 70,000 to the highest level in more than two years.

How long can this go on? U.S. Treasury Secretary Steven Mnuchin offered hope on Thursday, saying he expects renewed economic growth as the virus threat subsides in the third quarter, followed by a “gigantic” fourth quarter. “We are going to get through this,” Mnuchin said. “We are going to destroy this virus and our economy is going to come roaring back better than ever.”

Dig deeper: Read Marvin Olasky’s column about the difference between faith and fatalism during the coronavirus pandemic.


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Lynde Langdon

Lynde is a WORLD Digital’s managing editor and reports on popular and fine arts. She lives in Wichita, Kan., with her husband and two daughters. Follow Lynde on Twitter @lmlangdon.

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  • OldMike
    Posted: Thu, 03/19/2020 04:20 pm

    Yes, we’re going to get thru this.  The Lord of Creation is still in control. Use this opportunity to tell your unbelieving friends and relatives—who have much greater reason to be fearful than we do—about the hope and security they can find in Jesus Christ. 

  • NEWS2ME
    Posted: Thu, 03/19/2020 07:20 pm

    It sounds odd that all of a sudden there are 70,000 unemployed.

    Are all the people who have been off the radar come back on just in case there is a "relief" check in it for them?

     

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