Jamie Cox, managing partners at Harris Financial Group, says investors are not as scared about a recession as they are the fallout from a potential debt ceiling default. For access to live and exclusive video from CNBC subscribe to CNBC PRO:

» Subscribe to CNBC TV:
» Subscribe to CNBC:

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:

#CNBC
#CNBCTV …(read more)

BREAKING: Recession News

LEARN MORE ABOUT: Bank Failures

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

Cox: We’re in the Beginning Stages of the Most-Anticipated Recession in Modern History

As economies around the world continue to grapple with the devastating effects of the COVID-19 pandemic, it’s becoming increasingly clear that we are in the beginning stages of what could potentially be the most-anticipated recession in modern history. Like a dark cloud hanging over us, this impending recession looms large and casts a shadow of uncertainty on both individuals and businesses worldwide.

Often referred to as the “Great Lockdown Recession,” this economic downturn is likely to be unparalleled in its magnitude and impact. The anticipation surrounding this recession stems not only from the severity of the crisis but also from the fact that it was anticipated long before it even began.

In early 2020, as news of the coronavirus outbreak in Wuhan, China started to spread globally, economists and financial experts raised concerns about its potential impact on the global economy. The unprecedented measures taken to curb the spread of the virus, such as nationwide lockdowns and travel restrictions, have disrupted supply chains, halted economic activities, and led to mass layoffs and business closures.

The signs of economic distress are already evident. Major stock markets have experienced sharp declines, unemployment rates have skyrocketed, and GDP growth has plummeted to record lows. Governments have been forced to step in and enact massive fiscal stimulus packages to mitigate the economic fallout. Despite these efforts, there are no guarantees that we will be able to avoid a widespread recession.

Historically, recessions have come and gone in cycles, but this one is unique in its nature. The unpredictability of the duration and severity of the pandemic contributes to the uncertainty surrounding this recession. Even if the virus is effectively contained and a vaccine is developed, the road to economic recovery will be long and challenging. It will take time for businesses to rebuild, for jobs to be restored, and for consumer confidence to return to pre-crisis levels.

The impact of this recession will be far-reaching and will affect various sectors of the economy. Industries such as travel, hospitality, and retail have already been hit hard, with many businesses facing bankruptcy or insolvency. The ripple effect will extend to other sectors, including manufacturing, finance, and real estate. Small businesses, in particular, will bear the brunt of the recession, as they usually lack the resources and resilience to weather prolonged economic downturns.

One cannot understate the psychological impact of this recession on individuals. The fear of losing jobs, the uncertainty about future financial stability, and the anxiety caused by overall economic instability will inevitably take a toll on mental health. Governments and organizations must prioritize support systems and invest in mental health resources to help individuals cope with the stressors of this anticipated recession.

While the path ahead seems uncertain, it’s crucial to remember that recessions, although painful, are not permanent. Economies have rebounded before, and they will rebound again. Governments and policymakers must continue to closely monitor the situation, adapting policies and measures to ensure effective relief and recovery.

In the midst of this seemingly gloomy outlook, it’s important to remember that economies are resilient, and humans have an incredible capacity to adapt and innovate. Lessons learned from previous recessions can guide us through this unprecedented crisis. By fostering collaboration and embracing technological advancements, we can work towards building more robust and sustainable economies.

We are undoubtedly facing unprecedented challenges, but by instilling hope, promoting solidarity, and implementing effective strategies, we can emerge from this anticipated recession stronger, more united, and better prepared for the trials that lay ahead.