Paul Krugman: How to create a pandemic depression

Last week, the Bureau of Labor Statistics officially validated what we already knew: Just a few months into the COVID-19 crisis, America already has a Great Depression level of unemployment. But that’s not the same thing as saying that we’re in a depression. We won’t know whether that’s true until we see whether extremely high unemployment lasts for a long time, say a year or more.Unfortunately, the Trump administration and its allies are doing all they can to make a full