The damage caused by the COVID-19 epidemic to human society is all-round. It not only causes direct harm to the human body, but also has a serious negative impact on the economy, politics, society and other aspects of the entire world.

Currently, affected by the COVID-19 epidemic, the economies of all countries in the world except China have experienced negative growth. Since China controlled the epidemic early, social production and life have returned to normal, and the economy has emerged from the shadows and has experienced positive growth. . In countries such as Europe and the United States, which are shrouded by the new coronavirus epidemic, normal social operations are far from being restored, and are getting worse. Of course, the United States is among them.

Affected by the COVID-19 epidemic, the unemployment rate in the United States has been rising. The suspension of production and closure of enterprises has severely disrupted the normal social production order. Hundreds of millions of people rely on government relief. day. Many people are concerned about whether the U.S. economy will be in trouble after the epidemic. Will the U.S. economy experience a Great Depression? The answer is yes.

Despite the fact that the United States has a very strong economic strength and the hegemony of the US dollar, it is also vulnerable when the epidemic spreads on a large scale and is out of control for a long time. Under the influence of the epidemic, the production capacity of enterprises has declined, import and export have been affected, the national economy has declined, and the overall national strength will continue to weaken.

The ongoing and increasingly serious epidemic has brought an unprecedented heavy blow to the U.S. economy. Companies and banks have collapsed, unemployment has increased, and the U.S. economy has experienced a serious recession, and its overall national strength has been dragged down and declined. , but it will not yet cause the collapse of the US economy. In other words, the US economy is in trouble, and it is only temporary.

A bank really failed! All along, everyone has a very trusting impression of banks. Although I have heard of bank failures, it seems that I have never actually encountered them. The epidemic crisis in 2020 has made everyone truly realize that banks will really fail. Around April, First State Bank in West Virginia, USA, declared bankruptcy and MVB Bank will take over First State Bank's depositors.

According to data, First State Bank has a development history of more than 100 years since its establishment. It is a veritable century-old bank that can be said to provide depositors with a full range of deposit and loan services. But this time, it collapsed completely due to the epidemic, which is really sad. What is even more surprising is that this is not the first bank to fail in the United States since 2020.

Before this bank failed, the Erikson State Bank in the United States had already announced its bankruptcy. Although MVB Bank will take over First State Bank's depositors and deposits, and even clearly stated that it will purchase First State Bank's assets, depositors are still worried. Because the current global epidemic control situation is not ideal, especially in the United States, the number of infections ranks first in the world.

Many people are worried whether such bank failures will continue to spread? According to economists' speculation, the number of bank failures in the United States will continue to increase this year. In fact, this speculation is not unfounded! Since March 2020, the Federal Reserve has continued to print money to provide liquidity stimulation to the market. At the same time, the Federal Reserve announced an interest rate cut on March 15, lowering the interest rate range to 0~0.25.

The last time the Federal Reserve had zero interest rates was in 2008, during the global economic crisis. In other words, in the Fed's mind, this crisis is no less than the original economic crisis. Judging from the current situation, the current situation is actually far more severe than the original financial crisis. You know, this epidemic is endangering not just the financial industry.