Many economists believe that a recession is already underway. So do millions of Americans struggling with bills and job losses. While the ghosts of the 2008 financial crisis that sent inequality soaring to new heights in this country are still with us, it’s become abundantly clear that the economic disaster brought on by the Covid-19 pandemic has already left the initial shock of that crisis in the dust. While the world has certainly experienced its share of staggering jolts in the past, this cycle of events is likely to prove unparalleled.
