Economics

New Normal 2.0 for U.S. Economy Looks Awful, Long, Perilous

Companies, consumers to build buffers for just-in-case economy
Coronavirus crisis will leave economy with long-run scars

A worker wearing a protective mask stands behind a plastic shield in Woodstock, Georgia, on April 27, 2020. — A worker wearing a protective mask stands behind a plastic shield in Woodstock, Georgia, on April 27, 2020.Photographer: Dustin Chambers/Bloomberg

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May 13, 2020 at 9:00 AM UTC

Updated on

May 13, 2020 at 2:31 PM UTC

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Get ready for the New Normal 2.0 -- or, more appropriately, 2-point awful.

The U.S. economy post-Covid-19 will look a lot like the one that struggled to recover from the 2008-09 financial crisis –- only in some ways worse.