Today's post will touch the following topics: 1. K-shaped recovery; 2. Joe Biden and Kamala Harris election 2020 victory; and 3. Additional stimulus for the US economy. Let's start with Joe Biden and Kamal Harris election 2020 victory. Joe Biden will be inaugurated in January 2021, and Trump is going to be kicked out of the White House. For the past seven weeks, Donald Trump has told the country that democracy stole the election result. This statement is part of Trump's misinformation and conspiracy theory plan that has no value or base. Trump lost the election in the electoral college; and in the popular vote. Next, there is a new $900 billion pandemic stimulus measure that the senate and congress have to vote on. The government will not be shut down, as the plan has been created. Once this bill or stimulus passes the house and senate vote, the US public should expect about $600 in January 2021. These stimulus checks will be in the consumers bank accounts, for the economy to get a good boost in the 1st quarter of 2021. If the US continues to improve on consumer spending, then it leads to a more positive GDP. The last statement means that the economic recovery will continue. Third, G. Ripley is covering that K-Shaped recovery. K-shaped recovery is changes in the structure of the economy or the broader society as economic outcomes and relations are fundamentally changed before; and after the recession. This type of recovery is called K-shaped; because the path of different parts of the economy when charted together may diverge. The K-shaped recovery resembles the letter 'K'; and it is different than a V or U shaped recovery. One last thing is K-shaped recovery describes the path of different disaggregated economic variables, such as income across different segments of society or employment in different industries, relative to one another. K-shaped recovery is going to be different in that while some parts of the economy may enjoy a booming recovery immediately following the recession; others may remain mired in sluggish growth or even continue to decline. In addition, the following parts may rise like consumer spending; real estate; and inflation. The numbers that could decline are unemployment numbers; and income inequality. The poverty level could continue to decline, which is another major problem for Joe Biden and Kamala Harris to solve. The salaries of most workers may not rise either, as sluggish raises could be a major possibility. The coronavirus pandemic is a global issue, that all world leaders are trying to work around. Europe and Australia are two different continents, which tell different stories on how to deal with the pandemic. In this penultimate paragraph, let's discuss the coronavirus numbers that have turned the world economies upside down. For example, India; UK; USA; Spain; Italy; France; and Brazil have gone through one of the worst recessions since the 2007-09 financial crisis[Great Recession]. On the other hand, China; Taiwan; Australia; New Zealand; and South Korea have controlled the death rates that other super powers could not resolve due to coronavirus pandemic. In Germany, the country may go through another economic lockdown. Germany is the 4th largest economy in the world, and India is the 5th largest economy. If these 2 countries slip back into recession, then Europe and Asia could go through many more economic disparities. In closing, there is no definite cure to solving economic inequalities in Africa also. South Africa is going through a recession, like no other in 2020. Sub-Saharan Africa such as Nigeria and other West Africa countries are continuing to suffer in terms of GDP numbers. The IMF is relaying that 2021 could see many different countries coming out of recession, which is good news for the six continent super powers (US; UK; Russia; Germany; Nigeria; Australia; and Brazil/Argentina/Chile). For the readers, today's post is a huge amount of information for the brain to handle. Always increase knowledge about the world; six continent economies; elections; and recovery/recession. Enjoy the picture above of 2018-2021 economic growth numbers, across the world.
