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    Bringing faith to the big top via circus ministry

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    Bringing faith to the big top via circus ministry

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    “Way Too Hard — But Worth It”: MSOE graduates reflect on challenge, growth, and what comes next

    “Way Too Hard — But Worth It”: MSOE graduates reflect on challenge, growth, and what comes next

    Severe Thunderstorm Warning Issued across east, south-east Wisconsin

    False alarm prompts Milwaukee alderman to call for metal detectors at City Hall

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WTMJ Cares: ‘We’re in a changed world for sure’ – The challenges of rebuilding an economy after coronavirus

by WTMJ News
April 14, 2020, 6:36 pm - Updated on April 15, 2020, 10:05 am
in Coronavirus, News, Shows, Wisconsin's Afternoon News, WTMJ Cares 2020 Town Hall
WTMJ Cares: ‘We’re in a changed world for sure’ – The challenges of rebuilding an economy after coronavirus

NEW YORK, NY - APRIL 09: Flags fly at full staff outside the NYSE on April 09, 2020 in New York City. Gov. Andrew Cuomo directed flags to be flown at half-staff for the victims of the coronavirus. COVID-19 has spread to most countries around the world, claiming almost 90,000 lives with infections nearing 1.5 million people. (Photo by Kena Betancur/Getty Images)

WTMJ Cares is powered by Watry Industries and Premier Aluminum.

Sponsored by Aurora Health Care, Drake & Associates, Siding Unlimited and Annex Wealth Management. WTMJ Cares is supporting The Salvation Army of Milwaukee County – donate here!

The economy was positive in numerous aspects of society when 2020 began.

Then coronavirus hit, and thanks to lost jobs and closures of countless businesses and industries, what was once strong has turned recessive when it comes to dollars and cents in America.

“We’re in a changed world, for sure,” Annex Wealth Management President and CEO Dave Spano told WTMJ’s John Mercure and Erik Bilstad during Tuesday’s WTMJ Cares Town Hall.

“You have to see the (gross domestic product) – we were obviously positive. There was a very slight chance of a recession. GDP forecasts for the second quarter are a 30 percent recession.”

Spano explained that such a large recession is “transitory,” but it will not be a short period of time until recovery.

“You put that (30 percent) number on top of an unemployment number…possibly 20 percent. It’s going to take some time to get out of the hole.”

Spano underscored the importance of returning to a more vibrant, open economy in order to help a large percentage of the American population.

“We know it’s real, but we also have to get people back to work, because poverty is real,” said Spano.

“Half the people in this country live paycheck to paycheck. They have to get back to work.”

He believes that the turnaround in the financial world won’t be an especially long wait, however.

“I’m excited for one year from now…a u-shaped recovery,” said Spano.

“I think one year from now on the equity side, the financial side, we’ll be in a lot better place.”

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