As the coronavirus wreaks havoc on the US economy, Americans should brace for a prolonged period of pain, not a swift recovery. The real damage of this crisis has just begun to emerge. In just the last two weeks of March alone, nearly 10 million Americans filed for unemployment insurance. So in that time, about 6% of the US labor force lost their job. And consumers — the lifeblood of the economy — recently saw their confidence plunge to a 32-month low. Large parts of the economy have suddenly shut off, and turning them back on will not be a simple reversal of the switch. Given the substantial uncertainty about the ... (full story)