The rise in unemployment and economic impact caused by the COVID-19 pandemic is being witnessed across both advanced and developing economies.
While the full extent is yet to be ascertained, leading macroeconomic influencers are predicting that the stimulus packages announced by governments may not be enough.
Daniel Lacalle, an author and Chief Economist at Tressis SV, tweeted about the historic WTI crude oil price crash to below zero.
Lacalle noted that commodities pricing is not experiencing a V-shaped recovery or a moderate recession, but pricing for a deflationary depression.