Categories
child care economic recovery Intelwars Jason furman jobs Joe Biden

Top ‘White House ally’ sharply undercuts key Biden, Dem narrative on stalled economic recovery

Democrats and the Biden administration have attributed the blunted economic recovery, in part, to a lack of child care services for working parents. They have used the problem to push support for President Joe Biden’s American Families Plan, a massive legislative proposal that would cost taxpayers $1.8 trillion.

However, new analysis released by economic experts including Harvard professor Jason Furman, whom Politico described as a “prominent White House ally” and “Biden-friendly economist,” severely undercuts the Democratic narrative.

Jason Furman. (Andrew Harrer/Bloomberg via Getty Images)

After April’s shockingly disappointing job’s report showed the U.S. economy stalled last month — adding only about one-quarter of the 1 million jobs experts predicted — Democrats have called for Congress to act on Biden’s plan, and the White House has said lack of child care access is preventing parents from rejoining the workforce.

Politico reported:

Democratic officials have used the jobs report to call on Congress to urgently approve hundreds of billions of dollars in child care aid that Biden has proposed under the American Families Plan, which also includes two free years of universal pre-K. “If we don’t solve our child care crisis, there isn’t going to be an economic recovery,” Sen. Patty Murray (D-Wash.), who chairs the Health, Education, Labor and Pensions Committee, said at a Thursday press conference.

White House press secretary Jen Psaki told reporters earlier this month that passing the Families Plan “would have a huge benefit in addressing some of the impacts of child care, on educational needs … that is preventing women from rejoining the workforce.”

What did Furman discover?

The economic analysis co-authored Furman, who served as chairman of former President Barack Obama’s Council of Economic Advisers, found that child care challenges are not contributing to the stalled economic recovery.

“School closures and lack of child care are not holding back the recovery,” Furman said, Politico reported. “And conversely, we shouldn’t expect a short-term economic bump from reopening schools and making child care more available.”

In fact, the analysis discovered the employment rate for parents with young children decreased at a lower rate than the unemployment rate for people without young children, yet another indicator that child care challenges are not contributing to the stalled jobs recovery.

Instead, the analysis concluded that enhanced unemployment benefits is partly behind the disappointing economic numbers from April.

While school closures and ongoing childcare challenges have substantially burdened parents and children alike, they do not appear to be a meaningful driver of the slow employment recovery. This means that the factors responsible for the slow employment recovery and depressed labor supply are issues that are not exclusively related to the struggles of working parents, such as the continued concern about the threat of getting COVID-19 at work or expanded unemployment insurance benefits and eligibility.

Furman had said previously child care challenges and closed schools were contributing to poor economic recovery numbers.

How did the White House respond?

Jared Bernstein, a member of Biden’s Council of Economic Advisers, essentially dismissed the analysis, saying it “doesn’t obviate our concerns about the child care barrier either in the near-term or the long-term.”

“Many factors remain in play: fear of the virus, barriers to child care, school closures, concerns about the vaccination rates for working-age people,” Bernstein told Politico. “All of these factors are in the mix, and I don’t think you can find one piece of research that says, ‘Aha, here is the main factor or the sole factor.’ These factors are all interacting with each other as we continue making a gradual return back to pre-crisis conditions.”

Share
Categories
by design centralized banking class structure control Corporate America crush the dollar economists government is slavery Headline News hyperinflation inflation Intelwars jobs Manipulation money planned Recession slave planet The Fed The Federal Reserve two tier society wake up

The ‘Take This Job and Shove It’ Recession

This article was originally published by Charles Hugh Smith at Of Two Minds Blog. 

So hey there Corporate America, the Fed, and your neo-feudal cronies: take this job and shove it. This time it really is different, but not in the way the Wall Street shucksters are claiming.

Conventional economists, politicos, and pundits are completely clueless about the unraveling that’s gathering momentum beneath the superficial surface of “reflation” because they don’t yet grasp we’re entering an unprecedented new type of recession: a ‘Take This Job and Shove It’ recession which is unlike any previous downturn.

Long-time readers know I’ve addressed the emergent class structure and systemic decay of the socio-economic order for many years. Just as a quick refresher, here are a few of the dozens of essays I’ve written on these topics:

America’s Nine Classes: The New Class Hierarchy 4/29/14

The Managerial/ Professional Class Is Burning Out 3/28/16

America’s Metastasizing Class Wars 8/27/20

This Is How It Ends: All That Is Solid Melts Into Air 9/10/20

This Is Why Inflation Will Rip Everyone’s Face-Off 9/17/20

What the chattering class of apologists, toadies, lackeys, factotums, and apparatchiks missed about the pandemic lockdown was the tidal change in perceptions of work and life enabled by a withdrawal from the deranging frenzy of work: once people had time to reflect on their lives, mortality, goals, identity, and the soaring costs and dwindling rewards of their efforts to “get ahead” via slaving away in a dead-end job/career, the tune that began to haunt their subconscious ruminations was Johnny Paycheck’s timeless classic, Take This Job And Shove It (2:31).

Whether anyone in the halls of power cares to notice or not, a mass withdrawal from the workforce is underway. What’s remarkable about this swelling exodus is that it isn’t confined to one class of workers: low-wage workers are jumping ship en masse, but so are mid-level white-collar workers and well-paid but overworked technocrats in the top 10%.

As the professional apologists frantically spew rah-rah PR about the “recovery” (you mean we’re all addicts and are now “recovering”?), the workforce is finally awakening to the emptiness of the PR: the rewards of the economy have flowed to two classes: the Financial Aristocracy (a.k.a. the New Nobility in our neo-feudal economy), the top 0.1% who now own more wealth than the bottom 80% of American households, and speculators, from the scammers on Wall Street to the daytraders gambling their stimmy payments.

The reality that wages have stagnated for the past 50 years is finally sinking in, and people are responding accordingly. By any realistic measure, most workers have lost ground when the purchasing power of their wages in the 1980s is compared to what their earnings buy now in healthcare, childcare, rent, higher education, property taxes, etc.

The erosion of labor’s value has been catastrophic for the bottom 60%. As I recently noted, I was making $12 an hour in 1985, an OK wage but nothing special, and after 36 years of inflation, many workers are still earning $12 an hour–or less. Measured in purchasing power, wages have declined since the early 1970s.

Take a glance at the chart below of wage’s share of the economy and observe it’s been in a downtrend since the early 1970s.

Meanwhile, the cost of big-ticket expenses such as healthcare, childcare, rent/housing, and higher education have tripled. Even high-earners such as physicians have lost ground, as their salaries in 1985 bought far more goods and services than their salaries do today.

Young high-earners have been flocking to the FIRE movement for years: financial independence, retire early is the upper-middle-class way of saying Take This Job And Shove It, as the goal is to save enough earnings by scrimping and saving to exit the workforce for good while still in your early 30s.

Lower-wage workers are finding other workarounds. Much to the consternation of employers, many are milking the extended unemployment payments. But beneath the radar, others have carved out informal-economy niches or found ways to slash their living costs–for example, constructing a micro-home on a cheap plot of rural land and saying goodbye to McMansion dreams and $2,000 a month rents for tiny apartments in decaying urban cores.

Even highly paid people are realizing that the meager rewards of slaving away to make Corporate America another couple trillion in profits isn’t worth their life. As desperate employers offer overworked technocrats bonuses to keep them slaving away, the workers are plowing the bonuses into bets they hope will pay off and fund their escape from neo-feudal serfdom sooner than planned.

While the apologists, toadies, lackeys, factotums, and apparatchiks serve their neo-feudal lords for pennies tossed in the sawdust, the most productive workers are melting away. Nobody dares mention the number of physicians and nurses who are leaving America’s sick-care system; once again, the pandemic served as a catalyst for action to be taken on long-simmering frustrations.

YOLO (you only live once) isn’t just about making risky bets in bubblicious markets–it’s about deciding to do something else with your life other than make Corporate America another couple trillion in profits or keep your small business afloat as taxes, fees, penalties, surcharges, rent, and every other expense soars.

The pandemic posed a question few had time to ponder: what’s the point? What no financial analyst dares confess is the corporate profits they cheer every quarter have come at a cost that many Americans will soon be unable to bear. Millions of highly experienced, essential employees are either planning to quit, retire, cut their hours or switch to lower-stress jobs.

It isn’t easy to escape the clutches of the Corporate-State neo-feudal system; the costs (tangible and intangible) of self-employment have been rising steadily for decades:

The Troubling Decline of Financial Independence in America (August 28, 2015)

The Fading American Dream of Working for Yourself (October 2015)

Social Mobility between classes has decayed, and people are finally beginning to grasp this. After you do all the right things–borrow a fortune to get a college degree, build your resume with low-paying jobs working ridiculous hours, etc., you eventually realize you’re a precariat just like everyone else. Maybe a better-paid precariat, or maybe a poorly-paid precariat, but this is all the Financial Mobility you’re ever going to get.

The Top 0.1% winners in this system are protected by the Federal Reserve, while the losers are strip-mined by crushing taxes. Even if they don’t understand the exact mechanisms of the Federal Reserve’s bag of tricks, they now understand the rich get richer and the state protects them from the precariats and serfs doing all the work.

The Federal Reserve can conjure up trillions of dollars out of thin air to further enrich the nation’s parasitic elite, but they can’t print experienced, motivated workers or people with entrepreneurial skills.

The danger to the state is not who rebels but who opts out. Outright rebellion suits the state, as it can turn its monopoly on force on the citizenry. But when those keeping everything glued together have had enough and find a way to quit, the entire system starts unraveling in ways the state is powerless to stop.

If the Technocrat Caste opts out, the private sector loses its tax donkeys and managerial expertise. If what remains of the middle class opts out, what’s left of America’s civic glue disappears.

If the working poor opt-out, the scut work required to provide the upper classes with their comforts will not get done. (Hey, Mr. State Bureaucrat and Mr. Financier, here’s a saw and a knife. Butcher your own meat.)

There’s only so much inequality and unfairness a workforce can bear, and America is well past that point. To those who claim “people can’t afford to quit,” just watch. Those who’ve had enough are finding ways to opt-out. There’s plenty of woodwork to disappear into.

So hey there Corporate America, the Fed, and your neo-feudal cronies: take this job and shove it. This time it really is different, but not in the way the Wall Street shucksters are claiming.

So take this job and shove it, I ain’t working here no more. I’m stepping off the rat-race merry-go-round, thank you very much. You can find some other sucker to do your dirty work and BS work, all for the greater glory and wealth of your New Nobility shareholders. I’m outta here. So I won’t get rich, that dream died a long time ago. What I’m interested in now is getting my life back and getting the heck out of Dodge as things unravel.

Of related interest:

My book Get a Job, Build a Real Career and Defy a Bewildering Economy is a primer for those seeking sustainable self-employment in the nooks and crannies of the economy.

If you found value in this content, please join me in seeking solutions by becoming a $1/month patron of my work via patreon.com.

The post The ‘Take This Job and Shove It’ Recession first appeared on SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You.

Share
Categories
Biden administration Economy Intelwars jobs Labor shortage President joe biden unemployment insurance

Biden: Unemployment benefits are not causing a labor shortage. Also, if you don’t take a job offer, you’ll lose your benefits

President Joe Biden denied Monday that the generous federal unemployment benefits were a contributing factor to Friday’s disappointing jobs report while at the same time clarifying that anyone who has been offered a “suitable job” must take the job or lose their benefits.

The president delivered remarks on the economy Monday at the White House after a Friday jobs report stunned economists who had predicted the U.S. economy would add nearly 1 million jobs in April, only to find out only 266,000 jobs were created and the unemployment rate actually rose from 6% to 6.1%.

“Let’s be clear, our economic plan is working,” Biden insisted, noting that since he took office in January more than 1.5 million jobs have been created in the U.S. as the country reopens from COVID-19 lockdown policies and business restrictions. “I never said and no serious analysis ever suggested that climbing out of the deep deep hole that our economy was in would be simple, easy, immediate or perfectly studied.”

Republicans and the U.S. Chamber of Commerce blamed the lackluster jobs numbers on the $300-per-week unemployment insurance benefits generously offered in the $1.9 trillion coronavirus relief package that passed in March. The benefits, which critics say pay unemployed people more than they would earn if they found a job, were extended through September under the Biden plan.

Biden explained Monday that anyone currently collecting unemployment insurance is liable to lose their benefits if they are offered a job but refuse to take it.

“Anyone collecting unemployment who is offered a suitable job must take the job or lose their unemployment benefits,” Biden said, adding that there are some COVID-19-related “exceptions.”

Responding to his critics, Biden said “we don’t see much evidence” of people being paid to stay home rather than go to work.

“It’s easy to say, the line has been, because of the generous unemployment benefits that is a major factor in labor shortages. Americans want to work,” Biden said. “I think the people who claim Americans won’t work even if they find a good and fair opportunity underestimate the American people.”

The president announced several actions his administration will take to distribute economic aid from his coronavirus relief package and hopefully spur job growth.

The U.S. Treasury Department will begin to send state and local governments more than $350 billion in bailout funds to cover their budget deficits and rehire about 1.8 million government employees who were laid off during the pandemic, including teachers, first responders, sanitation workers, and other essential workers. The administration is also beginning to send relief checks to some 16,000 restaurants who applied for assistance.

Biden encouraged employers to take advantage of programs offered in his American Rescue Plan, like the ability to hire back laid-off workers part-time without having those workers lose their unemployment benefits or a tax credit for keeping workers on payrolls.

Republicans say the administration needs to do more to make unemployment benefits less attractive than finding and maintaining a paying job. Sen. Ben Sasse (R-Neb.) announced legislation to convert unemployment benefits into a federal hiring bonus that will supplement qualifying workers’ paychecks if they find a job by July 4, 2021.

State officials are also taking action. Last week, the governors of South Carolina and Montana announced that enhanced federal unemployment benefits would end for residents in their state, claiming the benefits are discouraging people from finding work and causing labor shortages. Florida Gov. Ron DeSantis (R) announced separately that his state will require residents to show proof they are looking for work to continue to receive unemployment insurance.

The Biden administration claims that there is no evidence to support the idea federal benefits are causing the labor shortage. Secretary of Commerce Gina Raimondo said Sunday that many Americans aren’t returning to work yet because of ongoing fears about contracting COVID-19 and difficulty in finding childcare while schools remain closed for in-person instruction. President Biden has proposed a $1.8 trillion plan that would in-part subsidize child care for American families and federally fund free pre-school tuition for 3- and 4-year-olds.

Share
Categories
Economy Intelwars jobs unemployment

Despite millions of jobs available, April’s employment report has grim news

The U.S. Department of Labor has released its official April payroll report, and the anemic numbers of jobs added have shocked Wall Street and prompted many states to begin re-examining federal unemployment benefits. According to the department, the economy added about 266,000 new jobs in April, well short of forecasts, and the unemployment rate rose to 6.1%. According to Bloomberg, overall employment remains 8 million short of pre-pandemic levels.

Employment levels had been slowly increasing as businesses began to reopen from the worst months of the pandemic, with 536,000 new jobs added in February and 770,000 added in March. April’s anemic figure came as a surprise to many Wall Street analysts, who predicted that the rate of jobs added would continue to increase.

There seems, however, to be one major roadblock to continued job growth: Companies are reporting that they are simply not able to find anyone to fill certain jobs for a variety of reasons, including the relative attractiveness of expanded federal unemployment benefits, and the inability of some parents to resume full time work because schools in many parts of the country have not fully reopened for full-time in-person learning. Bloomberg reports that the number of available jobs is reaching record levels, in spite of the high unemployment numbers.

This tension is causing some states to react. The Republican governors of South Carolina and Montana announced Thursday that they are ending enhanced federal unemployment benefits for all residents in their states beginning next month, saying that the benefits are unnecessarily discouraging people from returning to work and causing labor shortages in critical industries. Montana Gov. Greg Gianforte (R) said, in explaining the move, that “Incentives matter, and the vast expansion of federal unemployment benefits is now doing more harm than good. We need to incentivize Montanans to reenter the workforce.”

Florida Gov. Ron DeSantis (R) also announced on Thursday that Florida residents will be required to show proof that they are looking for work in order to continue to receive unemployment benefits beginning on May 29. Florida’s requirement for weekly “work search” reports had previously been suspended by a DeSantis executive order, but DeSantis indicated that he would not renew the order when it expires later this month.

“We suspended that last year at this time because, quite frankly, there weren’t jobs,” DeSantis said. “I think now we’re in just a different situation, you have a surplus of jobs, particularly in restaurant, lodging, hospitality, that people want to hire. I mean, you see the signs all over the place. Look, that’s a good problem to have. But we also just want to make sure, like, look, if you’re really unemployed, can’t get a job, that’s one thing. But making sure that you’re doing your due diligence to look for work, and making sure those incentives align, better.”

Share
Categories
California Coeur d'Alene Dallas Economy Headline News high end homes home prices housing market Idaho increase Intelwars jobs market mass exodus realtors unemployment wake up

The Mass Exodus From The West Coast Is Driving Home Prices In Idaho To Insane Levels

This article was originally published by Micahel Snyder at The Economic Collapse Blog. 

Lots of people have been moving away from the west coast over the last decade, but we have never seen the sort of mass exodus that we have seen over the last year.  This mass exodus has created some extremely hot real estate markets in desirable areas located away from the coast, and according to the Wall Street Journal, the hottest real estate market in the entire country right now is Coeur d’Alene, Idaho.

Any house in the area that gets placed on the market is likely to spark a bidding war, and according to the Coeur d’Alene Association of Realtors, the median price of a home in the region has risen by a whopping 47 percent in the last 12 months…

The median sales price in the Coeur d’Alene region rose in March to $476,900, up 47% from a year earlier, according to the Coeur d’Alene Association of Realtors. Finding a home to buy in the metro area of about 166,000 is getting tougher: Inventory of homes for sale shrank by 71% to just 337 homes. That amounts to less than a month’s supply.

“That’s not enough to go around—therefore, every listing gets 30 offers,” Ms. Johnson said. “Since the pandemic, our market has been crazy.”

In particular, the demand for high-end homes is off the charts.

During the first two months of this year, the number of million-dollar homes sold in the Coeur d’Alene area was more than five times higher than the number sold during the first two months of 2020…

That has helped boost the number of high-end sales. In the first two months of the year, 67 homes in the area sold for $1 million and above, up from 12 sales in that price range in the first two months of 2020, Ms. Williams said.

Of course, the Coeur d’Alene region is not the only extremely hot real estate market that has been fueled by this mass exodus.

According to the Wall Street Journal, these cities round out the top 5…

Austin, Texas

Springfield, Ohio

Billings, Montana

Spokane, Washington

It is interesting to note that three of the top five hottest markets are in the Northwest.  For a variety of reasons, large numbers of people are being drawn to the region, and this has both positives and negatives.

If people want to make positive contributions to their new communities, that can be a good thing, but in too many cases new arrivals want to make their new communities just like the hellholes that they are escaping from.

According to Realtor.com, a large percentage of the people viewing Coeur d’Alene property listings are located in major cities such as Los Angeles and Seattle

About 70% of page views on Coeur d’Alene property listings came from outside the state in the first quarter, up from about 66% a year earlier, according to Realtor.com. The top metro areas for interest in Coeur d’Alene listings were Seattle, Spokane and Los Angeles.

Vast numbers of “west coast refugees” are fleeing to Texas as well.  In fact, one real estate executive based in Dallas says that “70% of the people moving in are from California”

“It’s like waiting for people to get an iPhone when it comes out,” he added. “We have lines out the door for people seeing houses all across all sorts of price points.”

Healy, who is based in Dallas, said hundreds of people per day are moving to his city. He pointed out that 70% of the people moving in are from California and increasing “luxury price points.”

Overall, home prices are much higher in the U.S. today than they were last year.

In fact, we just learned that the Case-Shiller Home Price Index has risen 12 percent over the last 12 months…

House prices soared by 12.0% from a year ago, the biggest increase since February 2006, near the peak of Housing Bubble 1, according to today’s National Case-Shiller Home Price Index for “February,” which reflects the three-month average of sales recorded in public records in December, January, and February.

But the Federal Reserve says that inflation is very low and that there is nothing to be concerned about.

Used car prices are escalating rapidly as well.  In fact, the Manheim U.S. Used Vehicle Value Index is up 52 percent over the last year…

Used car prices in the U.S. continue to skyrocket as a result of both the country’s economic recovery and an ongoing supply crunch.

The Manheim U.S. Used Vehicle Value Index has continued to soar through the month of April, to a new record, as a result of the worsening of a semiconductor shortage, low lot inventories, and a continuing post-Covid “boom”.

The index was up 6.8% in the first 15 days of April, Bloomberg noted. The index is up an astounding 52% from the same time last year to 191.4.

But the Federal Reserve says that inflation is very low and that there is nothing to be concerned about.

The price of gasoline just keeps rising as well.  It has jumped 9 percent since last month and it is up more than 22 percent overall since this time last year…

Gas prices jumped over 9% in the past month and they’re not expected to slow down anytime soon.

Gas prices are up 22.5% from the previous year and were the biggest contributor to an overall increase in goods and services in the nation, according to the US Bureau of Labor Statistics’ Consumer Price Index. Fuel prices pushed a 1-month increase in the overall price of goods for March that was the highest in nearly 9 years.

But the Federal Reserve says that inflation is very low and that there is nothing to be concerned about.

Do you believe the Fed?

I think that Fed officials should be forced to shop for lumber if they want to try to keep convincing us that inflation is very low.

According to Fortune, the price of lumber has shot up 232 percent since the start of the pandemic.

232 percent!

That is just nuts.

By the way, the book that I published last year warned way in advance that inflation would get way out of control.

Events are playing out just as we anticipated, and a lot more inflation is on the way.

Whenever a crisis arises, our leaders always flood the system with more money, and they are pushing us dangerously close to the point of no return.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream, and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial, or health decisions.  I encourage you to follow me on social media on FacebookTwitter, and Parler, and anyway that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The post The Mass Exodus From The West Coast Is Driving Home Prices In Idaho To Insane Levels first appeared on SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You.

Share
Categories
Commentary Conspiracy covid COVID Pandemic COVID Variants Crime earth changes Economic Crisis Environment Health Intelwars jobs Politics preppers super COVID unemployment unemployment benefits

If You Believe Life Will “Return To Normal”, You Have A Fundamental Misunderstanding Of The Times In Which We Live

Despite all of the craziness that is going on out there, many pundits are trying to convince us that life will soon “return to normal” and that great days are just around the corner.  They are telling us this despite the fact that the state of Texas has been in a state of collapse this week, the real economy continues to implode, the unemployment numbers are going up, civil unrest continues to rage in our streets on a nightly basis, and our entire planet continues to become even more unstable.  Those that believe that happy days are here again have a fundamental misunderstanding of the times in which we live.  This isn’t a period of time when America is going to “build back better”.  Rather, this is a time when America is going to go even deeper into “the perfect storm”.

One of the reasons why so many on the left are feeling optimistic right now is because the COVID pandemic appears to be subsiding

According to a CNN analysis of data from Johns Hopkins University, the US is seeing a 29% decline in new Covid-19 cases compared to this time last week, the steepest one-week decline the US has seen during the pandemic.

Improvements have been made; in a White House briefing Friday, US Centers for Disease Control and Prevention Director Dr. Rochelle Walensky said the US continues to see a five-week decline, with the seven-day average of cases declining 69% since peaking on January 11.

We are being told that if the numbers continue to plummet like this, soon there won’t be a need for masks, social distancing and other restrictive measures any longer.

In fact, James Hamblin says that there is a possibility that “pre-pandemic life will return even before summer is upon us”

If all of this holds true, it would mean that many aspects of pre-pandemic life will return even before summer is upon us. Because case numbers guide local policies, much of the country could soon have reason to lift many or even most restrictions on distancing, gathering, and masking. Pre-pandemic norms could return to schools, churches, and restaurants. Sports, theater, and cultural events could resume. People could travel and dance indoors and hug grandparents, their own or others’. In most of the U.S., the summer could feel … “normal.”

But is this pandemic really over, or is it just transitioning into a new chapter?

According to the Daily Mail, the number of confirmed cases of “Super COVID” in the United States is now doubling every 10 days…

There are now more than 1,600 cases of the UK’s B117 ‘super covid’ variant in the US, according to a DailyMail.com analysis. Cases are doubling approximately every 10 days, according to a recent Scripps Research Institute study.

‘Super covid’ cases have exploded in two states that took opposite approaches to the pandemic: California, which has been under some of the nation’s strictest lockdowns, and Florida which has never had a mask mandate.

Cases of the 70 percent more infectious variant have exploded to 433 in Florida, in less than one month since the first case was discovered there.

Of course many experts are far more concerned about the new COVID variants that have emerged in Brazil and South Africa.  Both of those variants have now made it to the U.S., and we already know that the current vaccines don’t work very well against the South African variant.

Meanwhile, the U.S. economy continues to crumble right in front of our eyes.

On Thursday, we learned that another 861,000 Americans filed new claims for unemployment benefits last week…

Last week’s initial jobless claims soared to 861,000, despite more states and cities lifting restrictive business measures amid a decline in the number of coronavirus cases. Economists had predicted around 773,000 first-time claims for the week ended Feb. 13. Data for the previous week was revised up to 848,000 from 793,000.

Unemployment claims have been at catastrophic levels for nearly a year, and now they are starting to surge higher once again.

We also just learned that a whopping 92 percent of all restaurants in New York City “could not afford to pay their rent in December”

A new report from the NYC Hospitality Alliance shows the extreme financial problems restaurants in New York City are facing, as 92% of the city’s restaurants could not afford to pay their rent in December.

The number has steadily worsened throughout the pandemic, from 80% of restaurants in June 2020 not being able to pay rent.

92 percent!

That isn’t what a “recession” looks like.

The truth is that we are in an economic depression, and there is no end in sight.

At the same time, communities all over the U.S. continue to be plagued by civil unrest and crime.

In cities such as Seattle, violent protests and riots have essentially become a nightly occurrence at this point.  But most of the violence that we are witnessing is old-fashioned crime.  One study found that murder rates in major U.S. cities were up by an average of 30 percent last year, and the chaos has continued into 2021.  If you want to see an example of the lawlessness that is prevailing in our urban areas right now, just watch this video.

On top of everything else, our entire planet continues to behave in very unusual ways.

For instance, on Friday morning there was a magnitude 4.2 earthquake in Oklahoma

4.2-magnitude earthquake shook Oklahoma and Kansas Friday morning, the U.S. Geological Survey reports.

The 4.3-mile deep quake hit near Manchester, Oklahoma, at 7:56 a.m. CST, according to the USGS. Manchester is in northern Oklahoma near the state’s border with Kansas.

It is not normal to see earthquakes of that size in the middle of the country, but of course we are moving into times when all of the old rules will no longer apply.

Earlier this month, I wrote an article about how volcanoes all along the Ring of Fire have been “starting to pop off like firecrackers”.  I believe that we have entered a time when we will see natural disasters become increasingly frequent and increasingly powerful, and despite all of our advanced technology we are exceedingly vulnerable.

Just look at what just took place in Texas.  A single wave of cold weather plunged the state into a nightmare scenario.

If cold weather can cause this much chaos in Texas, what would a much more severe long-term emergency mean for our entire nation?

The events of the past week should be a wake up call for all of us, because the road ahead is certainly not going to get any easier.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The post If You Believe Life Will “Return To Normal”, You Have A Fundamental Misunderstanding Of The Times In Which We Live first appeared on End Of The American Dream.

Share
Categories
Big Brother Big Brother Control Grid Big Brother Society Big Brother Surveillance Big Corporations Commentary Conspiracy Corporations Intelwars jobs Politics Technology thought crime

When Corporations Become More Powerful Than The Government, Our Definition Of “Big Brother” Needs To Change

Throughout human history, our God-given liberties and freedoms have often been brutally crushed by oppressive governments, and that is still happening all over the world today.  But in our time, an additional threat to our liberties and freedoms has emerged.  Global corporations just continue to get larger and more powerful, and in recent years they have been increasingly using that power to shape society.  This is a very dangerous trend, because in the western world many of the constraints that our national governments are forced to operate under simply do not apply to corporations.  This gives them an enormous amount of leverage, and they are using it.

Here in the United States, the federal government still has a monopoly on power in areas such as border security, national defense and foreign policy.

But when it comes to the things that matter the most in the day to day lives of most Americans, it could be argued that the giant corporations have now become more powerful than the federal government.

For example, our politicians like to brag about how many jobs that they have “created”, but the truth is that they don’t actually create any jobs unless you want to count useless government desk jobs.

Our politicians can help to foster an environment that will be favorable for economic growth, but it is the corporations that really determine whether the economy will grow or not.

In fact, it could be argued that the corporations are the economy at this point.

Over time, it has become increasingly difficult for any American to become truly independent of the corporate system.  Even if you own a small business or you work for yourself, there is a good chance that you depend on the big corporations in many ways.

If you doubt this, just try to “go it on your own” without ever using any corporate products, without ever dealing with a big tech company, and without ever bringing in any income from any corporate source whatsoever.

These days, most of our lives are defined by our corporate overlords.  They decide what job you will have, what your pay will be, what hours you will work and what your health plan will look like.

Beyond that, now many large corporations have decided that there are certain beliefs, opinions and values that their employees are not permitted to have.

By now, you have probably heard that a certain actress was fired by Disney for having opinions that were not acceptable.  That was a very high profile case, but the truth is that this sort of thing is constantly happening all over the country at this point.

As we move into the future, being guilty of “thought crime” is going to eliminate large blocks of people from ever having certain types of jobs.  If you do not pledge fealty to the current version of political correctness, you simply will not be permitted to hold a prominent position in society.

If your beliefs are considered to be “offensive”, you may get to mop the floors for the elite if you are lucky.

Even when you are at home, the elite want to endlessly monitor and control what you do, say and think.  The primary way that they do this is through the Internet, and in recent months they have tightened their control considerably.  The following comes from an opinion piece that was just authored by former U.S. Senator Orrin Hatch

Consider the events of the last month. Social media sites banned the sitting president of the United States from their platforms. A purge of conservative voices on Twitter ensued. Amazon Web Services expunged Parler, a conservative social media site, from the internet. Just days later, YouTube blocked public access to a Senate hearing on COVID-19.

These events confirmed what many of us have long known: true political power no longer resides in Washington, but in Silicon Valley. Big Tech now effectively decides who has the right to speak, who has the right to assemble online and who has the ability to build a business in the digital age. For many Americans, Twitter’s terms of service agreement now has more power over what they can and cannot say in the public square than the First Amendment does.

In the old days, Americans could go to the public square and say anything that they want.

But now the big tech companies are the public square.

Freedom of speech is a thing of the past on the Internet, and more voices are being “deplatformed” with each passing day.

On Wednesday, it was LifeSiteNews

YouTube just completely removed the LifeSiteNews YouTube channel. This isn’t a temporary ban; every single one of our videos is completely gone.

This greatly grieved me, because so many other pro-life voices have already been silenced.  We desperately need those voices, because if we stay on the path that we are currently on, there is no future for America.

On Thursday, Twitter suspended Project Veritas.

Project Veritas would like to continue to share their information in the public square, and I would like to continue to share it with my readers.  In fact, I share Project Veritas videos on The Most Important News all the time.

But Twitter has decided that Project Veritas has become too offensive.

“Cancel culture” has gotten wildly out of control, and it is starting to infect every area of our society.  Here is more from Orrin Hatch

The pattern of “canceling” individuals for social media posts is well established. This can result in deplatforming, termination of employment or—if you’re baseball legend Curt Schilling—even losing your health insurance. We’re used to seeing cancel culture on a micro-scale: a newspaper editor being fired here, a university professor being suspended there. But now, thanks to an assist from Big Tech, we’re seeing cancel culture on a much broader level. Take the mass cancelation of Parler’s more than 10 million users, or growing calls to ban Fox News, Newsmax and other right-leaning channels altogether. If successful, these efforts will shrink the window of acceptable viewpoints in American society until conservatives find themselves on the outside.

As we continue to go down this road, just think about what this would mean for the next generation of Americans.

Children that are guilty of “thought crime” won’t get into good schools, they will never be allowed to have good jobs, they will be shunned by banks and financial institutions, and they will be banned or marginalized by all of the major entities on the Internet.

Basically, they will have to find a way to survive on the fringes of society somehow.

All of this is designed to force people to believe what they are supposed to believe.

In fact, it is dangerous for you to be reading this article right now.

They are always watching everything that you do on the Internet, and expressions of noncompliance are not acceptable in this brave new world that we live in.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The post When Corporations Become More Powerful Than The Government, Our Definition Of “Big Brother” Needs To Change first appeared on End Of The American Dream.

Share
Categories
Andrew Cuomo covid Covid lockdowns Economy Employment Intelwars jobs New York New York City unemployment

After locking down New York, Gov. Cuomo forecasts state’s decimated job market won’t recover from COVID-19 until 2025

New York Democratic Gov. Andrew Cuomo has bad news for his people: It will be literally years before the state’s job market recovers from the hit it took during the COVID-19 pandemic.

The massive loss of jobs the Empire State experienced came largely as a result of COVID-19 lockdown policies instituted at the hands of the left-wing executive.

What did Cuomo say?

In his annual budget plan submitted this week, Cuomo made it clear that there are rough times ahead for New York’s workers.

His subjects should not expect the state’s employment levels to recover to pre-pandemic levels until sometime in 2025, he stated in his “Economic Revenue and Outlook” outline of his $192.9 billion budget.

The document noted that actions taken by the government to “slow the spread” of the virus brought the economy to a stop, with nearly 2 million jobs lost in New York alone. Though there has been some recovery in the employment numbers, things are still way behind where they should be: November’s employment levels were 10.3% below pre-pandemic levels.

And the state has fallen behind the national pace.

The measures taken to slow the spread of COVID-19 brought the State economy to a virtual standstill in March and April of 2020. More than 1.9 million jobs were lost in these two months alone. Based on the most recent Current Employment Statistics (CES) seasonally adjusted data, almost half of those jobs have been recovered as of this publication. However, the November level of employment remains 10.3 percent below its February (pre-pandemic) level. As illustrated in the figure below, the pace of the national labor market recovery initially outperformed that of the State. With the easing of the most stringent phase of the New York lockdown on pause in May, the State initiated a staged reopening in accordance with Centers for Disease Control (CDC)-issued guidelines. The national labor market made a strong and immediate comeback, adding 9.3 million jobs in the three months through July, or 41.8 percent of jobs lost. That compares to the 533,000 jobs New York recovered over the same period, or 27.4 percent of jobs lost.


Image source: budget.ny.gov, “FY 2022 Economic and Review Outlook” screenshot

With Cuomo’s orders killing restaurant dining and colder weather making any sort of outdoor dining options for most New York eateries not possible, the recovery of the labor market has suffered even more.

The governor’s office now predicts job growth to be a mere 5.4% for 2021, after declining 9.9% in 2020.

Which means, according to Cuomo’s own budget outline, the state of New York should not expect to reach its pre-pandemic employment levels until 2025.

With the onset of colder autumn weather, and virus-safe practices such as outdoor dining no longer feasible in many areas of the State, the labor market recovery has since slowed to a trickle, as the State added only 29,500 total jobs and 36,300 private sector jobs in November. With COVID-19 transmission intensifying across both the State and the nation, job growth is expected to slow even further over the winter months until vaccines become widely available. Job growth of 5.4 percent is now projected for 2021, following a decline of 9.9 percent for 2020. Private sector job growth of 6.2 percent is projected for 2021, following an estimated decline of 11.1 percent for 2020. These projections compare to national declines of 5.7 percent for total employment and 6.2 percent for private employment for 2020, followed by growth of 2.7 percent for total employment and 3.4 percent for private employment for 2021. New York State employment is not expected to reach its pre-pandemic peak until 2025.

And, as the New York Post noted, things are even worse in New York City, where unemployment is still 12.2% below February’s pre-pandemic levels.

The Cuomo budget out noted that Gotham has recouped only 39.4% of jobs lost during the COVID outbreak in the spring, which, the Post reported, contrasts significantly with the more than 60% recovery in the surrounding Long Island and Westchester-Rockland-Orange counties.


Image source: budget.ny.gov, “FY 2022 Economic and Review Outlook” screenshot

Share
Categories
arguments bias brainwashing Capitalism communism controlling COVID-19 currency creation Debt divide division Donald Trump election Federal Reserve free speech Headline News Intelwars jobs Joe Biden Mainstream Mainstream media markets Middle Class party lines political parasites ruling class selection SLAVERY voter fraud Wall Street

TRUMP SIGNED $600 STIMULUS: CAVED BIG-TIME?

This article was contributed by The Wealth Research Group, and we deem it important!

In 2020, our inbox got filled after each and every letter we published that mentioned either Trump or Biden; it’s like walking on eggshells. I want to address this topic of favoritism or bias towards either Republicans or Democrats, Biden or Trump, America First or Globalism, socialism (communism) vs. capitalism, free speech or censorship (Section 230) and all the other highly inflammatory subjects that Americans, from both sides of the aisle, are not seeing eye-to-eye on and find no middle-ground to compromise on.

Hopefully, this will put to rest any confusion about where we stand on these issues and, instead of a flood of emails each time we express commentary, there will be an understanding of expectations, so that you’ll see our point of view.

The first thing to note is that we have heard and looked into all of the arguments from both sides:

* We have heard and looked into Trump supporters consider the following to be indisputably true: Joe Biden is a pawn of the Chinese Communist Party (CCP), the mainstream media and tech giants are suppressing the evidence of voter fraud (creating a false narrative), they’re purposefully not reporting about Hunter Biden’s legal issues (since it would have reflected horribly on Joe’s presidential aspirations), globalists agendas are hijacking America’s middle-class jobs and sending them overseas (the Deep State and its operatives), bankrupting the wealth of the average American (through debt and currency creation). They are also rewriting history and creating a radical left policy (“woke” Americans and “Cancel Culture”), which will rob Americans of their God-given rights and freedoms set forth by the Constitution, by trampling all over it (propaganda and BLM, for example). If Biden gets his way, America is toast and there will be nothing to stop Democrats on their quest to implement their own version of 1984.

On the flipside, Americans who hate President Trump also believe they’ve got all of their ducks in a row and take the following to the bank:

* We have heard and looked into what they live and swear by, which are the following: President Trump is a liar and a clown, who is not to be trusted. He destroyed America’s prestige among world leaders by ruining relationships with other countries, disregarding climate change, colluding with Russia, creating racist policies, helping his friends with favors, exaggerating and cheating, allowing people to die from the pandemic by not sticking with the science (he closed the borders first, but did not enforce masks…) and creating a more dangerous Middle East by removing troops, creating a power vacuum that terrorists will fill instead.

We are well aware of, highly familiar with and constantly checking various media sources in order to absorb all narratives and digest the data from all angles.

We listen to many channels, which have been taken down from YouTube and now publish on alternative platforms and we also listen to the mainstream narrative, in order to understand where most Americans (certainly most of millennials) get their “facts” from.

There are no blind spots or areas where we’re being naïve or complacent. There are no areas where we’re bending over and accepting tyranny or allowing any media source to dictate reality to us. By wearing a mask, we are not saying that CNN is right and by not wearing one, we are not saying that coronavirus does not exist and that this is all 5G-related. Said differently, we are not “persuaded” or brainwashed.

We’re not a political publication at all, but because politics is woven into the market behavior, we certainly must comment on it, which creates friction, when the letter does not conform to the reader’s view of the world. It’s impossible to publish any worthwhile insight, without aggravating a single soul, unfortunately.

Therefore, whenever we incorporate politics into our letters, it is done for the purpose of showing not what WE believe is the truth about Biden, Trump or their respective agendas, but what “the street” (which is to say Wall Street) believes to be the truth, since our mission is to highlight financial and investment opinions and reporting.

If I think the moon landing never happened, that the Earth is actually flat and that Area 51 is filled with aliens and I’ve got all the supporting evidence to back these claims, it will do me no good from a financial perspective, if Wall Street is not trending in this fashion.

Over 80% of money invested in stocks is transacted by large funds and massive pools of wealth, and Computer Algorithm Trading, so the value of knowing what the street is thinking is ENORMOUS.

If, for instance, you believe that Joe Biden is going to hand over American interests to the Chinese, or, on the flipside, you believe that four more years of Trump will result in America losing its respect with world leaders, the BEST and first thing you can do in either case is become financially independent, so that you can protect you and yours from what’s coming.

Your highest priority in life should be to live your BEST LIFE, since politics will never be just how you want it. One cannot be a victim of the times he is living in and this doesn’t mean being silent about injustices or not saying what you believe, but it does mean to not allow these issues to bring your quality of life down with them!

Bottom line: our publication projects the sentiment of the street, not that of the author, because the street is what matters!

After we release information, we dissect the potential opportunities it creates. This is how we showcased Bitcoin at $450/coin, when Jamie Dimon was threatening to fire employees, who traded it. We saw that the street was bullish. We released information and offered our opinion. This is how we turned bullish on stocks in late March, when we saw the FED would do anything to get the markets functioning again.

When we say that one should tolerate the opinions and notions of the very people he despises, we do not mean one should ACCEPT them by any stretch of the imagination. If someone came to me explaining Marxism, for example, I would listen with an open mind in order to understand how he thinks about the world, but his opinion would then be challenged with facts, from my part. I refuse to accept bullshit and unsubstantiated opinions, but I also refuse to be closed-minded, impatient or not exhibit courtesy, by turning away. Tolerating does not equal agreeing with or succumbing to the other side!

It means that we respect the diversity of opinions and the right of others to believe what they want. In the end, we lead by example; therefore, openly discussing issues and getting down to the root causes of why people think certain thoughts will help rid the world of foolish notions. Not being tolerant actually adds fuel to their convictions and puts them on the defensive and back them into a corner. We see it with teenagers all the time; whatever a parents warns them not to do, that’s what they’ll be obsessed with doing to spite their folks.

So, after this long background explanation of the purpose of this newsletter, know that when we state that President Trump just signed into law the $600 stimulus checks, there will be those who claim that he had caved, while others would reject that and believe that it’s part of his greater strategy.

Both could be right, but where is the VALUE in analyzing it?

The value is in understanding what the big money thinks, because that’s where opportunity exists. This is the main mission of our newsletter, which deals with financials.

The street is convinced that 2021 will be a bit more inflationary than in recent years and that’s important for you to know!

With the Treasury General Account holding $1.5tn, which they’ll spend into the real economy, with oil prices and agricultural commodities breaking out and with the GSCI on the verge of breaching a 12-yr resistance line, that’s the most important piece of information from a financial point of view – which is what you’ll always get from us.

Courtesy: Zerohedge.com

The post TRUMP SIGNED 0 STIMULUS: CAVED BIG-TIME? first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

Share
Categories
American Workers Americans Are Living Paycheck To Paycheck Debt Debts Economy Emergency Preparedness experts Headline News Intelwars jobs Living Paycheck To Paycheck Middle Class Middle Class Family Middle Class Jobs Pain Painful Pay Bills paycheck paycheck to paycheck Paying The Bills Social Security social security administration TAXES The Middle Class The Middle Class In America wages

Goodbye Middle Class: Half Of All American Workers Made Less Than $34,248.45 Last Year

This article was originally published by Michael Snyder at The Economic Collapse Blog. 

If you are making less than $3,000 a month, you have plenty of company, because about half of the country is in the exact same boat.  The Social Security Administration just released new wage statistics for 2019, and they are pretty startling.

To me, the most alarming thing in the entire report is the fact that the median yearly wage was just $34,248.45 last year.  In other words, half of all American workers made less than $34,248.45 in 2019, and half of all American workers made more than $34,248.45.  That isn’t a whole lot of money.  In fact, when you divide $34,248.45 by 12 you get just $2,854.05.  Needless to say, it is not easy to survive in America today on just $2,854.05 a month, and this may help to explain why we have been seeing so many people fall out of the middle class in recent years.

And of course, all of the figures that I am sharing with you in this article are just for 2019.  This year, we have seen more than 63 million Americans file new claims for unemployment benefits as the U.S. economy has imploded during this pandemic, and so the final wage numbers for 2020 could be quite a bit worse than the numbers for 2019 were.  Please keep that in mind as you go through the rest of this article.

Once upon a time in America, a single income could easily support a middle-class household in most cases, but those days are long gone.

The cost of living has been rising far faster than our paychecks have, and as a result, many Americans have been working themselves to the bone just to survive financially from month to month.

To give you an idea of just how bad things have gotten, I would like to share with you some key numbers from the report that the Social Security Administration just released

-32.26 percent of American workers made less than $20,000 last year.

-44.79 percent of American workers made less than $30,000 last year.

-56.46 percent of American workers made less than $40,000 last year.

-65.91 percent of American workers made less than $50,000 last year.

Today, the poverty level for a household of five in the United States is $30,680.

That means that close to half of all workers in this country do not even make enough to get a family of five above the poverty level.

Wow.

There are tens of millions of Americans that are referred to as “the working poor” because they are living in poverty even though they are employed and are working extremely hard.  Many of you that are reading this article know exactly what I am talking about.  Some of you are working way more than 40 hours a week, and yet there never seems to be enough money at the end of the month.

Sadly, the truth is that our system has evolved in a manner that makes it almost impossible for most Americans to ever build up much wealth.

If you are making the median monthly wage of just $2,854.05, there simply is not going to be much leftover after all of the bills are paid.  First of all, you are going to need someplace to live.  In the middle of the country, you may be able to find something habitable for under $1,000 a month but in most of our major metropolitan areas that simply is not going to be realistic.

Secondly, you are going to need to pay your utility bills.   If you can keep the combined cost of your power, water, phone, television, and Internet bills to about $250 a month, you are doing quite well.

Thirdly, you will need a vehicle in order to get around, and these days it is hard to buy or lease a vehicle for less than $300 a month.  In addition, you will also need insurance, and that will set you back even more.

Fourthly, you will need health insurance.  If you are young and single, maybe you can find a plan for just a few hundred dollars a month, but most Americans pay far more.

Fifthly, you will probably want to eat, and that will cost you several hundred dollars a month as well.

At this point, almost all of your money is already gone, and there are so many expenses that I haven’t even mentioned yet.

And of course you never even started with $2,854.05 in the first place, because all sorts of taxes were taken out of your paycheck before you even got it.

Are you starting to understand why so many families in America are deeply, deeply struggling today?

We have an economy that works for those at the very top of the food chain, but pretty much everyone else is desperately trying to stay afloat.

And now we have entered an economic downturn during which tens of millions of Americans have lost their jobs.  According to John Williams of shadowstats.com, if honest numbers were being used the real unemployment rate in the U.S. would be 26.9 percent right now, and that would rival the worst levels that we witnessed during the Great Depression of the 1930s.

Others have come up with similar numbers.  For example, Axios is reporting that the “true unemployment rate” in the United States is currently 26.1 percent

A person who is looking for a full-time job that pays a living wage — but who can’t find one — is unemployed. If you accept that definition, the true unemployment rate in the U.S. is a stunning 26.1%, according to an important new dataset shared exclusively with “Axios on HBO.”

No matter how you want to crunch the numbers, everyone should be able to agree that millions upon millions of Americans are really hurting financially and are deeply concerned about the future.

And they have good reason to be concerned about the future because our economic system is in the process of imploding.

For decades, the greatest debt bubble in the history of the world allowed us to enjoy a level of debt-fueled prosperity that was far greater than we actually deserved.

Now the party is ending, and our society is going to experience an enormous amount of pain as everything changes.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream, and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial, or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and anyway that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The post Goodbye Middle Class: Half Of All American Workers Made Less Than ,248.45 Last Year first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

Share
Categories
beast vaccine Big Pharma buy and sell Congress Coronavirus COVID-19 delayed vaccine election Emergency use authorization food and drug administration forced general public Headline News Intelwars jobs Moderna Operation warp speed participate in society phase 3 trials Robert redfield Time traced tracked United States Vaccine vaccine timeline widespread vaccinations work

Moderna Says COVID-19 Vaccine Will NOT Be Ready Before The Election

Here’s a bit of good news: Moderna says its coronavirus vaccine being developed under Operation Warp Speed will not be available by the election. Moderna’s vaccine won’t be available until 2021.

Moderna CEO Stéphane Bancel told the Financial Times in an interview that Moderna, a Bi Pharma front-runner in the COVID-19 vaccine race, will not seek emergency-use authorization from the U.S. Food and Drug Administration until November 25 at the earliest and does not expect to have secured approval for distribution of the vaccine to the general public until spring 2021. “I think a late [first quarter], early [second quarter] approval is a reasonable timeline, based on what we know from our vaccine,” Bancel

Military Personnel OUTNUMBER Civilian Scientists In U.S. Vaccine Program

FDA Commissioner Is Willing To Skip Phase 3 Trials On COVID-19 Vaccine

Despite Trump’s assertions that a vaccine could be ready in weeks, Centers for Disease Control and Prevention Director Robert Redfield told Congress earlier this month that widespread vaccinations are not expected until well into next year. And once vaccination efforts start, they will not stop until all are vaccinated or forced out of work, and unable to purchase or sell anything without the vaccine.

In August, Moderna said the United States government had agreed to buy 100 million doses of its vaccine candidate, with an option to buy 400 million more doses, for $2.48 billion in total.

The end game is an agenda in which all people are tracked, traced, and surveilled under the complete control of a totalitarian elite. This vaccine is a piece of that agenda.

More Proof Trump Is Working On Bill Gates’ Vaccine Under “Operation Warp Speed”

Whether the vaccine is ready or not by the election, is of little consequence, the delay simply buys the people more time to figure out what’s going on and prepare for it. So please prepare.  Do what you can with the information you have to make sure you are braced for this.

This vaccine and its rollout will be nothing like we’ve seen before.

 

The post Moderna Says COVID-19 Vaccine Will NOT Be Ready Before The Election first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

Share
Categories
bankruptcy businesses fail closing Corporations COVID-19 economic crash Economy failures Federal Reserve Financial System hardships Headline News Intelwars jobs layoffs LIES middle class destruction money New World Order no recovery numbers painful winter retail liquidations

This Explosion Of Bankruptcies And Layoffs In The United States Is Unlike Anything We Have Ever Seen Before

This article was originally published by Michael Snyder at The Economic Collapse Blog.

The U.S. economy was supposed to be turning a corner by now, but instead, it looks like we are headed for an exceedingly painful winter.  All over the country, big companies are laying off thousands of workers, and in some cases, the numbers are even larger than that.

As you will see in this article, Disney just announced that they will be laying off tens of thousands of workers, and the airline industry is warning that 100,000 workers could soon permanently lose their jobs if the federal government doesn’t bail them out.  Meanwhile, we have been seeing businesses fail at a pace that is absolutely stunning.  According to the Wall Street Journal, this year we are on pace to set new records for retail stores closings, retail bankruptcies, and retail liquidations…

Retail store closings in the U.S. reached a record in the first half of 2020 and the year is on pace for record bankruptcies and liquidations as the Covid-19 pandemic accelerates industry changes, particularly the shift to online shopping, according to a report on the downturn’s severity.

Apparel retailers have been hit particularly hard during this pandemic, and it has been extremely sad to see some of the most iconic brands in the entire industry reach the end of the line

Among the notable companies that went belly-up over the summer are Lord & Taylor and its subsidiary, Le Tote; Tailored Brands, which is the parent company of Men’s Wearhouse and Jos. A. Bank; and Ann Taylor’s corporate parent Ascena Retail Group.

But it isn’t just the retail industry that is being utterly devastated.

According to Zero Hedge, there has been a “40% eruption in bankruptcy filings” in New York City so far in 2020, and one bankruptcy lawyer is warning that “there will be an avalanche of bankruptcies” as we approach the end of the year…

While Wall Street panic buys stocks again, on hopes Washington can pass the next round of much-needed economic stimulus, the broader commercial real estate market continues to implode and nowhere more so than the epicenter in New York City, where nearly 6,000 business closures, has resulted in a 40% eruption in bankruptcy filings across business districts of all five boroughs this year, reported Bloomberg.

Al Togut, a bankruptcy lawyer who has handled insolvencies for small firms to mega-corporations, said, “by late fall, there will be an avalanche of bankruptcies … When the cold weather comes, that’s when we’ll start to see a surge in bankruptcies in New York City.”

So does that sound like things will be getting better or does that sound like things will be getting worse?

I know that the answer is obvious.  I am just trying to make things crystal clear for those that have been deluded into thinking that we are headed for some sort of a “recovery”.

As more businesses collapse, more workers will lose their jobs.  So even though we have already seen more than 60 million American workers file new claims for unemployment benefits in 2020, more waves of unemployment are still on the way.

For example, we just learned that KPMG will be eliminating 1,400 jobs.  Those are good-paying jobs and they will not be easy to replace.

Not to be outdone, Disney has announced that they will be laying off 20 times as many workers

Disney is set to lay off around 28,000 employees in the United States as prolonged closures and limited attendance have decimated its theme park business.

The announcement was made in a letter to employees Tuesday from Josh D’Amaro, Disney’s head of parks, who detailed several ‘difficult decisions’ the company has been forced to make amid the ongoing pandemic.

Personally, I think that it is very cruel for Disney to do this.

They have made countless billions of dollars off of all of us over the past several decades, and they are in absolutely no danger of going bankrupt.

So can’t they come up with a little bit of cash to pay those workers during these tough months?

On the other hand, the airline industry is actually on the verge of a historic implosion, and we are being told that 100,000 workers could soon lose their jobs if they don’t get a massive bailout from the federal government.  The following comes from Wolf Richter

October 1 is the day US airlines that accepted their portion of the $25-billion bailout under the CARES Act can start involuntary layoffs of their employees. They’ve been shedding large numbers of employees since March but through voluntary buyouts, early retirements, and other programs that induced employees to temporarily or permanently leave. Now the airlines are engaged in a desperate lobbying effort to get legislation signed into law that would provide the next $25-billion bailout package. Threats have been flying, so to speak, to motivate Congress to get this done.

American Airlines CEO Doug Parker told CBS News on Sunday that if there isn’t a new bailout program, “there are going to be 100,000 aviation professionals who are out of work, who wouldn’t be otherwise.” This would include the 18,000 employees American Airlines has threatened to lay off.

With everything that is going on, I don’t have any idea how so many Americans can still feel so confident about the economy right now.

It just doesn’t make any sense.

Perhaps this is another sign of how self-involved we have all become.  If you haven’t lost your job and nobody you know personally has lost a job, perhaps things still seem okay in your little world.

But for many Americans, this economic downturn has quickly become a horror show.  In Philadelphia, a housekeeper named Kat Payne was “furloughed” from her hotel job back in March, and now trying to figure out how to survive has become part of her daily routine

Most mornings, Kat Payne calls a family meeting and talks with her children about how — or if — they are going to be able to pay their bills each month. It’s a routine she began after she was furloughed from her job as a housekeeper at the Philadelphia Marriott Downtown in March.

Payne, along with her 27-year-old daughter Kipati and 28-year-old son Atrayu, gather in their North Philadelphia living room, with the household bills in hand. She reviews the mortgage payments and her retirement and savings accounts with her children.

At this point, Payne has not been able to pay her mortgage for four months in a row, and she just received a letter with some more devastating news

Payne, 51, a single parent, recently received a letter from Marriott, which she reads out loud to her children: “We’re extending your layoff until December 31, 2020.”

Could you imagine being in her shoes?

What would you do?

Unfortunately, there are tens of millions of other Americans just like her that are deeply hurting right now, and economic conditions are only going to get worse in 2021 and beyond.

With each passing month, more businesses are going to crumble, more workers are going to lose their jobs, and more financial stress is going to be put on the system.

All of the dominoes are starting to fall, and every day there are more headlines that tell us that our society is coming apart at the seams.

I have been warning my readers for a very long time that this was coming, and now that it is here there will be no escape.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream, and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial, or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and anyway that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The post This Explosion Of Bankruptcies And Layoffs In The United States Is Unlike Anything We Have Ever Seen Before first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

Share
Categories
al gore Allan Lichtman Business credit contraction experts FANGMAN Federal Reserve fiat currency Florida Forecasting Future greed factor Headline News Intelwars investor jobs layoffs Liquidity money physical metals Precious Metals Ray Dalio Selling Silver stock markets wages

WARNING: COULD GET NASTY FOR SILVER!

This article was contributed by Lior Gantz of the Wealth Research Group. 

I know many want to hear that silver is ON ITS WAY to hitting $50/ounce at the SNAP OF A FINGER, but it might take a while for that to occur.

In March, $30tn worth of stocks and bonds WAS SOLD, creating enormous demand for dollars. This squeeze caused the paper price of silver to drop to $12/ounce, EVEN WHILE the physical metal was selling for double that amount.

The spread was big as it ever was. The return of liquidity to markets, ORCHESTRATED by the Federal Reserve, reassured businesses and individuals the world over that this isn’t a credit contraction. Instead, they can safely resume MARKET ACTIVITY and they did, with bullish fury.

Millennials and, in general, retail investors, who have either been staying at home, laid-off or put on paid/non-paid leave, have been looking for ways to replace their NORMAL WAGES. They have turned to the stock market, a phenomenon that has pushed valuations for certain stocks to LA-LA-LAND.

This recent correction in the NASDAQ has brought down some of the greed factor, but it’s still here and won’t be COMPLETELY DIMINISHING for the foreseeable future.

Courtesy: Zerohedge.com

Market forecasters thought that once the professionals STARTED SELLING, these retail traders would be shaken out and run back to their caves, but as you can see, hedge funds have begun buying, NOT SELLING.

What’s really interesting is that the wealthy and the institutional money have been either SELLING or MARGINALLY BUYING throughout this period, certain of themselves that cash is better than owning stocks.

While central banks have been SHOWERING LIQUIDITY, the wealthy have been sitting in the stands LIKE SPECTATORS, viewing the match from the sidelines.

This has been A HUGE MISTAKE!

Contrary to their tactic, we’ve not been fighting with the FED and, INSTEAD, have been buying LEFT AND RIGHT, which has resulted in MASSIVE GAINS.

Courtesy: U.S. Global Investors

Is it time to RECONSIDER BULLISHNESS? The true answer is that it’s an ETERNAL QUESTION that an investor ought to ask himself on a daily basis.

We believe that the STRONG BOUNCE is largely over, in both silver and tech stocks. The justification for higher prices will come after the UNKNOWNS become known:

  1. Who will win the elections? American historian Allan Lichtman, who has correctly predicted all election results since 1981, save for Al Gore’s loss (cheated by voter fraud and voter count suppression in Florida, though), has predicted A BIDEN VICTORY- we shall see…

If that happens, corporate taxes and probably CAPITAL GAINS taxes are going higher, thus companies will be worth less.

Consider that possibility for a second, because it’s one reason that Ray Dalio is diversifying OUT OF U.S. EQUITIES and into other regions.

Courtesy: Zerohedge.com

Could anyone have predicted how much FANGMAN (Facebook, Amazon, Netflix, Google, Microsoft, Apple, and Nvidia) would be COLLECTIVELY WORTH, driving the indices into all-time highs, even while the other 490 companies are relatively flat? NO! This is the value of owning AN INDEX FUND!

Now, though, with the index at all-time highs and with this HUGE BOUNCE back, the best investors are looking at the DICHOTOMY, which is to say that they’re investing in the distressed industries, which are cheap, not solely in the ones that enjoyed a STRONG TAILWIND from stay-at-home orders.

With regards to silver, you can see that investors are taking profits, AT THE MOMENT (the red lines are monthly NET OUTFLOWS):

Courtesy: Zerohedge.com

This is GOOD if you understand that it means that there’s NO BUBBLE in silver, but it’s BAD if you leveraged and are overweight on silver at present.

Silver is up more than 100% since March.

Trade with AGGRESSIVE PATIENCE; in other words, let opportunities come to you!

 

The post WARNING: COULD GET NASTY FOR SILVER! first appeared on SHTF Plan – When It Hits The Fan, Don't Say We Didn't Warn You.

Share
Categories
covid Covid shutdown Economy Economy coronavirus Intelwars jobs unemployment

Here are the 10 states with the lowest — and highest — unemployment rates as COVID-19  economic recovery sputters along

In July, the U.S. Department of Labor reported that the national unemployment rate in June was 11.1% — an unhealthy level, but far better than the 14.7% we saw in April.

The national July numbers, which will be reported Friday, are expected to be better than last month. Experts are forecasting an unemployment rate of 10.5%.

But how are things looking in each of the states?

The most recent state-by-state data, which was posted last Friday by the Bureau of Labor Statistics, revealed that there are some states that are truly seeing a “V-shaped recovery,” as Fortune noted Thursday. But too many states are still languishing in a slower-than-hoped-for recovery from the hit that the coronavirus — as well as the federal, state, and local governments’ responses — delivered to the American economy.

Leading the states that have recovered seemingly quickly is Kentucky. The Bluegrass State’s unemployment rate is currently 4.3% — nearly identical to its pre-COVID rate of 4.2% in February. The state hit a peak unemployment rate of 16.6% in April, but seems to have fully recovered — at least when it comes to jobs. And the recovery appears to have come as a surprise to the state government. From Fortune:

But dig a bit deeper and it’s clear that not all recoveries are proceeding equally. They vary immensely by state. In Kentucky, the seasonally adjusted jobless rate soared from 4.2% in February to 16.6% in April, according to the U.S. Bureau of Labor Statistics. But as Governor Andrew Beshear reopened the Bluegrass State’s economy, the jobless rate sunk to 4.3% by June — the lowest in the nation. That’s a textbook V-shaped recovery.

The swift recovery in Kentucky even caught its state officials by surprise. In May the state projected a $457 million general fund shortfall, however, it ended the fiscal year in June with a $177.5 million surplus. It helped that Kentucky doesn’t rely heavily on industries like leisure and hospitality that were decimated by the pandemic.

On the other end of the joblessness spectrum is Massachusetts, where the unemployment rate has continued to rise during the COVID-19 crisis. As recently as March, the state’s unemployment rate was 2.8%, but it took a huge jump to 16.2% in April. And the most recent data shows the Bay State currently with a rate of 17.4%.

Generally speaking, rural states tend to be out-performing more populous states.

The 10 states with the lowest unemployment rates:

No. 1: Kentucky
?
Current unemployment rate: 4.3%

? Peak COVID unemployment rate: 16.6% (April)

? February unemployment rate: 4.2%

No. 2: Utah
?
Current unemployment rate: 5.1%

? Peak COVID unemployment rate: 10.4% (April)

? February unemployment rate: 2.5%

No. 3: Idaho
?
Current unemployment rate: 5.6%

? Peak COVID unemployment rate: 11.8% (April)

? February unemployment rate: 2.7%

No. 4: North Dakota
?
Current unemployment rate: 6.1%

? Peak COVID unemployment rate: 9.1% (May)

? February unemployment rate: 2.2%

No. 5: Maine
?
Current unemployment rate: 6.6%

? Peak COVID unemployment rate: 10.4% (April)

? February unemployment rate: 3.2%

No. 6: Oklahoma
?
Current unemployment rate: 6.6%

? Peak COVID unemployment rate: 14.7% (April)

? February unemployment rate: 3.2%

No. 7: Nebraska
?
Current unemployment rate: 6.7%

? Peak COVID unemployment rate: 8.7% (April)

? February unemployment rate: 2.9%

No. 8: Montana
?
Current unemployment rate: 7.2%

? Peak COVID unemployment rate: 11.9% (April)

? February unemployment rate: 3.5%

No. 9: South Dakota
?
Current unemployment rate: 7.2%

? Peak COVID unemployment rate: 10.9% (April)

? February unemployment rate: 3.3%

No. 10: Alabama
?
Current unemployment rate: 7.5%

? Peak COVID unemployment rate: 13.8% (April)

? February unemployment rate: 2.7%

The 10 states with the highest unemployment rates:

No. 1: Massachusetts
? Current unemployment rate: 17.4%
? Peak COVID unemployment rate: 17.4% (June)
? February unemployment rate: 2.8%

No. 2: New Jersey
? Current unemployment rate: 16.6%
? Peak COVID unemployment rate: 16.6% (June)
? February unemployment rate: 3.8%

No. 3: New York
? Current unemployment rate: 15.7%
? Peak COVID unemployment rate: 15.7% (June)
? February unemployment rate: 3.7%

No. 4: Nevada
? Current unemployment rate: 15%
? Peak COVID unemployment rate: 30.1% (April)
? February unemployment rate: 3.6%

No. 5: California
? Current unemployment rate: 14.9%
? Peak COVID unemployment rate: 16.4% (May)
? February unemployment rate: 3.9%

No. 6: Michigan
? Current unemployment rate: 14.8%
? Peak COVID unemployment rate: 24% (April)
? February unemployment rate: 3.6%

No. 7: Illinois
? Current unemployment rate: 14.6%
? Peak COVID unemployment rate: 17.2% (April)
? February unemployment rate: 3.4%

No. 8: Hawaii
? Current unemployment rate: 13.9%
? Peak COVID unemployment rate: 23.8% (April)
? February unemployment rate: 2.7%

No. 9: Pennsylvania
? Current unemployment rate: 13%
? Peak COVID unemployment rate: 16.1% (April)
? February unemployment rate: 4.7%

No. 10: Delaware
? Current unemployment rate: 12.5%
? Peak COVID unemployment rate: 15.9% (May)
? February unemployment rate: 3.9%

Share
Categories
Depression Economic Crisis Economic Downturn Employment Intelwars jobs unemployment

Stories Of Economic Despair From America’s Worst Economic Downturn Since The Great Depression Of The 1930s

The economic pain that we are witnessing right now is far greater than anything that we witnessed during the last recession.  U.S. GDP declined by 32.9 percent on an annualized basis last quarter, more than 100,000 businesses have permanently shut down since the COVID-19 pandemic first hit the United States, and more than 54 million Americans have filed new claims for unemployment benefits over the last 19 weeks.  Up until just recently, a $600 weekly unemployment “supplement” and a federal moratorium that prevented many evictions had helped to ease the suffering for millions of American families, but both of those measures have now expired.  As a result, a tremendous amount of economic pain which had previously been deferred will now come rushing back with a vengeance.  Millions of American families are no longer going to be able to pay their bills, and experts are warning that we could soon see an “eviction crisis” that is absolutely unprecedented in American history.

48-year-old Thomas Darnell of West Point, Mississippi never thought that he would be in this position.  He had been a factory worker for over 20 years until he lost his job in May, and since then he hasn’t been able to find another.  And then on top of everything else, everyone in his house caught COVID-19…

First, he was furloughed for three weeks in April and then laid off in May. Then things got worse: His entire household of seven, including himself, his wife, three kids and daughter-in-law, along with his baby grandson, contracted coronavirus after they saw their immediate family over the Independence Day weekend.

“I’m tired and shaky. Even after a few weeks, I’m still trying to recover,” Darnell says, who has since been cleared of the virus but still has lingering symptoms.

He is concerned that employers will be scared away by his recent illness, and he is becoming desperate because he is running out of money.

With no health insurance and no paychecks coming in, Darnell and his wife have gotten to the point where they have to make a choice between buying insulin or buying groceries

He can’t afford health insurance, which has added to his anxiety because he and his wife are both diabetic, he says. Like Bolei, Darnell and his wife have been forced to make a grueling decision between either paying for their medications or keeping food on the table.

“Do we buy insulin or groceries? It’s a hard juggle,” Darnell says. “I’m willing to make less money and start working again to get health insurance, but no one is hiring.”

The weekly $600 unemployment supplements from the federal government had helped to keep them going for a while, but now those payments have ended, and the immediate future is looking quite bleak.

In Richmond, Virginia, a mother of eight named Shamika Rollins wasn’t sure how she was going to make it when her hours as a home health aid were reduced.  Unpaid bills started piling up, and then she got an eviction notice a few weeks ago.  The following comes from CBS News

Shamika Rollins’ eight children share two bedrooms in Richmond, Virginia. But she’s worried about losing their home after she says she received an eviction notice in June.

“First thing, I panic, and then next thing, I look, and I’m like, I got my kids. And it’s like, okay, now you gotta figure this out,” she told CBS News correspondent Adriana Diaz.

If a miracle does not happen, Rollins and her eight children will soon be out in the street, and this is causing her to have “a lot of sleepless nights”

“I have a lot of sleepless nights,” Rollins said. “My mind is constantly racing, you know, what’s your next move?”

Sadly, there are millions of other Americans in the exact same position.

In fact, experts are projecting that up to 40 million Americans could be evicted from their homes during this pandemic.

Many small business owners are also facing heartbreaking choices during this downturn.  A restaurant owner in Delaware named Alex Heidenberger “hasn’t paid the mortgage on his home the past four months” as he desperately tries to keep his once profitable restaurants alive…

Heidenberger, who typically draws about $20,000 a month in profit from the restaurant, now receives nothing. He says he hasn’t paid the mortgage on his home the past four months. He served lifeguard duty for a couple of weeks, mostly to help a beach crew depleted by COVID-19 quarantines but also to make some cash.

“I’m working harder than I have ever worked in my life,” he says, adding that he puts in about 80 hours a week at the two restaurants. Yet, “I have no money… This is all I think about. I don’t sleep.”

The COVID-19 pandemic has hit the restaurant industry particularly hard.  Americans are not eating out as regularly as they once did because of the virus, and it is probably going to remain that way for the foreseeable future.

In Massachusetts, a restaurant owner named John Pepper once had eight thriving locations, but at this point only two of them remain open

John Pepper used a PPP loan to pay employees and reopen four of his eight Boloco restaurants when Massachusetts lifted its shutdown order in early May. But with the money spent and business at the restaurants down as much as 70%, Pepper had to again close two locations. The staff of 125 he had before the virus outbreak is down to 50.

“A lot of this is out of our hands at this point,” Pepper says. “At this moment, I don’t see getting my full payroll back.”

Overall, we are facing a “restaurant apocalypse” in the U.S. that is unprecedented in size and scope.

According to one estimate, we could lose more than a third of all of our restaurants by the end of this calendar year

As many as 231,000 of the nation’s roughly 660,000 eateries will likely shut down this year, according to an estimate from restaurant consultancy Aaron Allen & Associates provided to Bloomberg News. This will bring the industry’s steady growth to a halt and mark the first time in two decades that U.S. restaurant counts don’t climb. Restaurants have already shed millions of jobs this year, economic data show.

What we are watching is truly horrifying.  So many hopes and dreams went into each one of those restaurants that are shutting down, and countless restaurant owners are going to be completely financially ruined by all of this.

For other Americans, this economic downturn has put their very lives at risk.  In Colorado, 70-year-old Catherine Azar was already dealing with heart problems and diabetes, and now she is in danger of being thrown out into the street

“It’s hard for me to conceive of someone being willing to put another person out in the street in the middle of a deadly pandemic, and I’m high risk. I’m 70. I have heart issues and I’m diabetic,” Azar said.

Rollins and Azar are just two of the 43 million Americans at risk of eviction in the coming months. For context, about 1 million Americans were evicted in 2010, the year after the Great Recession.

How long do you think that a 70-year-old woman with heart problems and diabetes would last on the street or in a shelter?

And as millions upon millions of Americans get evicted during the months ahead, the shelters are all going to fill up really fast.

America simply was not prepared for an economic downturn of this nature, and the truth is that much bigger challenges are still ahead.

So please do not look down on anyone that needs help right now, because soon you may find yourself in the exact same position.

***It is finally here! Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Share
Categories
COVID-19 delinquencies Depression devestation Economy edicts of tyrants Financial Great Depression Headline News Intelwars jobs monetary Mortgages New York paycheck to paycheck rent payments Restaurants Retailers rural areas Stress unemployment United States

The U.S. Economy Hasn’t Experienced Anything Like This Since The Great Depression Of The 1930s

This article was originally published by Michael Snyder at The Economic Collapse Blog.

The recession of 2008 and 2009 was bad, but it was nothing like this.  Even though this new economic downturn is only a few months old, we are already seeing numbers that we haven’t seen since the worst parts of the Great Depression of the 1930s.

More than 48 million Americans have filed new claims for unemployment benefits over the past 15 weeks, well over 100,000 businesses have permanently closed their doors, and civil unrest has turned quite a few of our major cities into war zones.  But not all areas of the country are being affected equally.  For example, there are rural areas that haven’t really seen a lot of COVID-19 cases where life seems to have changed very little from six months ago.  On the other hand, some urban areas that have been hit really hard by COVID-19 have been absolutely devastated economically.  For example, the New York Times is reporting that a million jobs have been lost in New York City, and the unemployment rate for NYC “is hovering near 20 percent”

The city is staggering toward reopening with some workers back at their desks or behind cash registers, and on Monday, it began a new phase, allowing personal-care services like nail salons and some outdoor recreation to resume. Even so, the city’s unemployment rate is hovering near 20 percent — a figure not seen since the Great Depression.

We are going to be using the phrase “since the Great Depression” a lot in the coming months.

Fear of COVID-19 is going to paralyze our economy for the foreseeable future, and all of this fear is hitting some companies more severely than others.  On Tuesday, Levi Strauss announced that sales were down a whopping 62 percent during the second quarter

The denim maker Levi Strauss & Co.’s sales fell 62% during its fiscal second quarter, the company announced Tuesday, as its online sales weren’t enough to make up for its stores being temporarily shut for roughly 10 weeks during the Covid-19 crisis.

If Levi Strauss expected this to be just a temporary setback, they would probably try to keep all of their employees on board.

But instead, they apparently believe that hard times are here to stay and they have just decided to eliminate “about 700 jobs”

Levi’s also announced it will be slashing about 15% of its global corporate workforce, impacting about 700 jobs, in a bid to cut costs during the coronavirus pandemic. It said the move should generate annualized savings for Levi’s of $100 million.

Of course, a whole lot of other companies are laying off workers right now too.  Another 1.427 million Americans filed new claims for unemployment benefits last week, and that is an absolutely catastrophic number.  Prior to 2020, the worst week in all of U.S. history for new unemployment claims was in 1982 when 695,000 unemployed workers filed in a single week.  So what we are witnessing right now is nothing short of a “tsunami of job losses”, and even CNN is admitting that millions of the jobs that have been lost “are never coming back”…

The American economy’s unprecedented jobs rebound masks a difficult truth: For millions of people, the jobs they lost are never coming back.

“It’s clear that the pandemic is doing some fundamental damage to the job market,” said Mark Zandi, chief economist for Moody’s Analytics. “A lot of the jobs lost aren’t coming back any time soon. The idea that the economy is going to snap back to where it was before the pandemic is clearly not going to happen.”

I couldn’t have said it better myself.

Since most Americans were living paycheck to paycheck before this pandemic erupted, millions of unemployed workers have found themselves in desperate need very suddenly.  I have written numerous articles about the massive lines that we have been witnessing at food banks around the nation, and we just witnessed another two-mile-long line at a food bank in Florida

More than 700 cars were seen waiting in a two-mile long food bank line in Florida as the US grapples with nearly half of Americans being unemployed amid a spike in new coronavirus cases that has sparked fears of more shut downs and lay-offs.

Sunrise Assistant Leisure Services Director Maria Little, who was put in charge of food distribution for the city when the coronavirus hit the US in March, said her group served about 720 cars in Miami on Wednesday.

This is not what a “recovery” looks like.

In fact, for certain sectors of the economy, the numbers are rapidly getting a lot worse.  For instance, just check out what CNBC is reporting

Delinquencies in commercial mortgage-backed securities last month had their largest one-month surge since Fitch Ratings began tracking the metric nearly 16 years ago.

The delinquency rate hit 3.59% in June, an increase from 1.46% in May. New delinquencies totaled $10.8 billion in June, raising the total delinquent pool to $17.2 billion.

And Fitch Ratings is warning that these numbers are going to get far worse in the months ahead.

And this is just the beginning. Fitch analysts are projecting that the impact from the coronavirus pandemic will drive the delinquency rate to between 8.25% and 8.75% by the end of the third quarter of this year.

I have said this before, and I will say it again.

We are on the verge of the biggest commercial mortgage meltdown in the history of the United States.

Countless restaurants and retailers are getting way behind on their rent payments, and as a result, many owners of commercial property are finding it increasingly difficult to make their mortgage payments.

The dominoes are starting to fall, and this is going to get really, really messy as we head into 2021 and beyond.

Of course, the same thing could be said for the U.S. economy as a whole.

I know that I haven’t been posting quite as often the last couple of weeks, and that is because I have been finishing my new book.  It is not too far from being completed, and it is going to be the most important thing that I have written so far.

We are right on the precipice of the most chaotic chapter in all of American history, and a collapsing economy is just going to be one element of “the perfect storm” that we are facing.

So please use the summer months to get prepared for what is ahead, because even though things are bad right now, the truth is that we have only experienced the leading edge of “the perfect storm” so far.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse BlogEnd Of The American Dream, and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations, I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial, or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and anyway that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Share
Categories
4.8 million Intelwars jobs June jobs report Trump jobs report unemployment

US economy shatters expectations with 4.8 million jobs added in June, but some warn that a downturn is coming

The U.S. economy continued its strong bounce-back by adding 4.8 million jobs in June, but some are warning that the numbers don’t reflect a potential downturn due to the recent surge in the coronavirus cases.

What’s the good news?

The nearly 5 million jobs added in June make it the second consecutive month of gains after more than 20 million jobs were lost in April alone due to widespread COVID-19 shutdowns. The unemployment rate also dropped to 11.1%, down from its high of 14.7% in April.

According to CNBC, the jobs report smashed expectations, as economists surveyed by Dow Jones had been expecting only 2.9 million jobs to be added and the unemployment rate to only drop to 12.4%.

“Today’s announcement proves that our economy is roaring back. It’s coming back extremely strong,” President Donald Trump said of the numbers in a news conference Thursday morning.

“This is the largest monthly jobs gain in the history of our country,” he added.

The president also highlighted the sharp drop in black unemployment, which fell from 16.8% to 15.4%, saying, “these are historic numbers.”

What’s the bad news?

However, most mainstream news outlets are reporting that since the Labor Department survey comes from the middle of the month, the numbers don’t accurately reflect the state of economy.

Several states across the southern and western regions of the U.S. have experienced a marked uptick in confirmed COVID-19 cases in the last couple weeks. The surge in cases, experts say, may have a negative effect on the economy heading into July.

“The 4.8 million rise in non-farm payrolls in June provides further confirmation that the initial economic rebound has been far faster than we and most others anticipated,” said Michael Pearce, senior U.S. economist at Capital Economics, according to CNBC. “But that still leaves employment 9.6% below its February level and with the spread of the virus accelerating again, we expect the recovery from here will be a lot bumpier and job gains far slower on average.”

“This slowdown is going to have an impact, absolutely. How big is hard to say,” said Steve Blitz, chief U.S. economist at TS Lombard.

Anything else?

Despite the ominous headwinds, the stock market reacted favorably to the news, NPR noted. The Dow Jones Industrial Average shot up by more than 400 points Thursday morning.

While discussing the stock market bump, Trump reportedly remarked: “This is not just luck, what’s happening. This is a lot of talent.”

The leisure and hospitality job sector reported the biggest gains, adding 2.1 million jobs, which accounted for roughly 40% of the total economic growth.

Other sectors reporting sizable growth were retail, education and health services, and manufacturing.

Share
Categories
America Cares act dollar crash economic crash financial suicide great recession Headline News Intelwars jobs millions money pandemic unemployment United States

America’s Jobless Claims Data Refuse To Confirm V-Shaped Recovery Narrative

This article was originally published by Tyler Durden at ZeroHedge.

As fears of a second wave of COVID (and the concomitant risk of re-lockdowns for America) soar, the last week saw 1.48 million more Americans filed for unemployment benefits for the first time (notably worse than the 1.32 mm expected).

Source: Bloomberg

That brings the fourteen-week total to 47.25 million, dramatically more than at any period in American history. However, as the chart above shows, the second derivative has turned the corner (even though the 1.48 million rise this last week is still higher than any other week in history outside of the pandemic)

California and Maryland were the worst states for jobless claims in the prior week with Oklahoma and Kentucky showing the biggest improvement…

Continuing Claims did drop modestly but hardly a signal that “re-opening” is occurring! And definitely not confirming the PMI data…

Source: Bloomberg

 

And as we noted previously, what is most disturbing is that in the last fourteen weeks, more than twice as many Americans have filed for unemployment than jobs gained during the last decade since the end of the Great Recession… (22.13 million gained in a decade, 47.25 million lost in 14 weeks)

Worse still, the final numbers will likely be worsened due to the bailout itself: as a reminder, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed on March 27, could contribute to new records being reached in coming weeks as it increases eligibility for jobless claims to self-employed and gig workers, extends the maximum number of weeks that one can receive benefits, and provides an additional $600 per week until July 31.

Finally, it is notable, we have lost 387 jobs for every confirmed US death from COVID-19 (121,979). Was it worth it?

The big question remains – what happens when the $600 CARES Act bonuses stop flowing? Will those who stayed home (thanks to making more money sitting on their couch than working) be able to find a job?

Share
Categories
economics Fight for 15 Intelwars jobs minimum wage Minimum wage debate Self-checkout Walmart

Walmart replaces all cashiers with self-checkout in one store — and they may roll it out all over the country

Superstore giant Walmart is testing out a new policy replacing all cashiers at one of their stores with self-checkout kiosks, and they’re considering doing it all over the country.

The pilot program is being implemented at their store in Fayetteville, Arkansas, but if it is successful it could be heading to stores all across the country.

Customers that need assistance will still be able to get help from employees, said a spokesperson for Walmart.

The goal of the program is to increase safety in the wake of the coronavirus epidemic by limiting human interaction. An added benefit is an increase in speed of checking out purchases.

Feedback from customers and employees will be used to gauge the successfulness of the program.

The increase in self-checkout kiosks may have important ramifications for the nationwide minimum wage debate. Walmart is the largest private employer in the world with 2.2 million employees, and also the largest in the United States, with 1.3 million workers.

It will also have implications for the question of how many of the jobs that have been lost during the course of the coronavirus pandemic will be lost permanently.

In April 2019 Walmart announced that they would be expanding their fleet of robots to replace human workers in specific jobs.

Here’s a local news video about the new policy:


Fayetteville Walmart switches to self-checkouts only

www.youtube.com

Share
Categories
Bureau of Labor Statistics COVID-19 economic recovery economic shutdown Intelwars jobs May jobs report unemployment

May report shows biggest jobs increase of all time, lower-than-expected unemployment rate

A surprisingly positive May jobs report showing the largest month-to-month job increase in history indicated that the United States appears to recovering from the COVID-19 outbreak from an economic as well as a health perspective, CNBC reported.

Despite being projected to decline by 8.3 million by some economists, non-farm payrolls actually increased by 2.5 million in May, a record turnaround after two of the most catastrophic unemployment months ever caused by COVID-19-related economic shutdowns.

The unemployment rate dropped from 14.7% in April to 13.3% in May, much better than the projected 19.5% unemployment projected by economists surveyed by Dow Jones. From CNBC:

As it turned out, May’s numbers showed the U.S. may well be on the road to recovery after its fastest plunge in history.

“It seems the damage from the nationwide lockdown was not as severe or as lasting as we feared a month ago,” said Scott Clemons, chief investment strategist at Brown Brothers Harriman.

President Donald Trump, whose re-election prospects may be at least somewhat dependent on the health of the economy, reacted positively to the jobs report from the Bureau of Labor Statistics.

“It’s a stupendous number,” Trump wrote Friday morning on Twitter. “It’s joyous, let’s call it like it is. The market was right. It’s stunning!

“It is a stunner by any stretch of the imagination,” he wrote in a follow-up tweet.

The U.S. is still hovering around 1,000 reported coronavirus deaths each day, and roughly 20,000 new cases per day, but even the hardest-hit areas of the country are taking steps toward reopening.

The COVID-19 outlook in the U.S. is complicated some by the mass protests that have occurred across the country over the past week. Because of the incubation period for the virus, we won’t know what impact those gatherings have on the spread of the virus for several weeks.

Share
Categories
Billionaire consume economic destruction Fear following orders great recession Headline News human beings human rights Intelwars jobs lives Mark Cuban massive government expnsion Microchipped Morality not animals not cattle Obey Programming scaring people spending traced tracked Tyrant

Tyrant Billionaire Wants Massive Government “Testing and Tracing” Program

It sure would be nice if the tyrants would just say what they mean.  The owner of the Dallas Mavericks, Mark Cuban, who happens to be a billionaire, wants everyone tracked and traced before people are “allowed” to have even a semblance of their lives back.  But it’s all to help the economy, of course.

A massive government program to employ a large number of people to track and trace their fellow Americans sounds disturbingly like Hitler’s Nazi Germany.  But nothing that comes out of the mouths of power-hungry billionaires surprises me anymore. Cuban is calling for mass surveillance, and it appears that he would probably support H.R. 6666, the mass surveillance bill that would “allow” agents of the ruling class to come to your house if they think anyone might be sick.

“This is not like the recessions of the past, even the Great Recession, where we had time to allow entrepreneurs just to create enough businesses or create enough jobs,” Cuban said. “We’re down 30 million-plus jobs in two months.” Ignoring the fact that it was the government who destroyed the economy, the entrepreneur and host on ABC’s Shark Tank said he would support federal or state government work programs on an “intermediate basis,” noting that the creation of these temporary jobs “buys us time” while the country attempts to regain normalcy in the job market. He argued that consumer spending will be what revitalizes the economy but that people need to have income in order to spend, according to a report by The Washington Examiner. 

Americans Are Too “Idiotic To See How Enslaved They Are” Even As the Gates of Hell Open Up

“We may have to go to jobs programs like we did in the ‘30s, which would make perfect sense for like tracking, and tracing, and testing where we train healthcare workers to do that and create 2 or 3 million jobs,” Cuban said.

“Create jobs where people who can’t get out of the house for whatever reason … hiring people from AmeriCorps or Peace Corps and paying them and training them to work with those people, particularly the elderly,” he continued. “We need to create jobs that people have confidence in because we need them to spend that money. We need them to be consumers.” –The Washington Examiner

Does this sound familiar? This exactly what the mainstream media and most TV “programming” is doing already:

At least we can thank Cuban for showing his true colors.  He doesn’t want anyone helped.  He wants us to submit to totalitarian and authoritarian enslavement where we can do two things: consume and obey.

Don’t let any tyrants get away with any of this.  Remember who wants you to be controlled by others and remember those who blindly followed the orders to obey and track their fellow humans like they are cattle.  We need to stand up to this tyranny.  We are not dogs or sheep.  We are not cattle that need to be tracked and microchipped so the ruling class can do with us what they will.  We are human beings and until we demand to be treated as such, they will continue to stomp the boots down on our throats.

Mark Cuban On AI: ‘If You Don’t Think A Terminator Will Appear, You’re CRAZY!’

These people will push as far as we allow. So far, not enough Americans have stood up.  Most realize what’s going on, but most are content to follow orders and “not make any waves.”

Share
Categories
Big Government Constitution country Daniel McAdams dignity Dr. fauci Dr. Ron Paul economy crash enslavement experts Fear government officials Headline News house arrest orders human rights Idaho Intelwars jobs liberty lockdown Politicians power hungry public rights standing up tyranny tyrants unemployment

Ron Paul: Resistance Building To Coronavirus ‘House Arrest’ Orders…It’s About Time!

GOOGLE Is Doing Whatever It Can to De-Monetize us And Shadow-Ban us. During these TOUGH financial times, we ASPIRE to stay completely independent and pay our full staff, so we can continue to deliver VALUE to you. It is possible for you to HELP us, by supporting our COVID-19 expert survival report HERE!

Thank You, ShtfPlan.com Staff

Americans have suffered under the boot of tyranny long enough. Resistance to the house arrest orders and pushback against the bans from making a living are finally surfacing in large numbers.  Have people finally realized they are not slaves to be controlled by a few power-hungry politicians?

Across the country, from political leaders to small business owners, to parents who just want to take their children to the park, resistance is growing to the authoritarians who have effectively suspended the Constitution and placed most of the country under house arrest.

Lawsuits are also challenging unlawful “stay at home” orders. What if all the hysteria-driven orders have actually made the virus outbreak even worse? More scientists are coming forward to argue for the “Sweden model” of moderation rather than lockdown.

In Dr. Ron Paul’s latest Liberty report, he says this frustration is positive.

Dr. Ron Paul On Coronavirus Panic: The Real Danger “Is The Government’s Overreaction”

As Americans begin to lose patience with their enslavement and the tyranny of almost every governor in this country, the government should see themselves as on borrowed time.  “Fauci is losing credibility,” says Dr. paul. Give the people back their natural right to freedom of speech, peaceful assembly, and the ability to make a living.

Dr. Paul says there’s a group of people in Idaho that are on the right side of human rights and the Constitution vocally standing up to the authoritarians who attempted to enslave the entire public.

Paul and Daniel McAdams discussed the psychological impact of fear this has had on the general public. The fear has led to people accepting their chains, yet that’s beginning to change. If governors and the federal government do no want to go down in history in the same manner as other tyrants, they would do well to give people back their rights and to never attempt this type of enslavement again.

End the Shutdown; It’s Time for Resurrection!

Life in and of itself is a risk, and personally, I’m not interested in facing tyranny for any reason, but let alone because of a pandemic.  One of those we can stand against as they have done in Idaho, and the other we can take voluntary individual actions to lessen its impact without destroying our neighbors’ lives in the process.

GOOGLE Is Doing Whatever It Can to De-Monetize us And Shadow-Ban us. During these TOUGH financial times, we ASPIRE to stay completely independent and pay our full staff, so we can continue to deliver VALUE to you. It is possible for you to HELP us, by supporting our COVID-19 expert survival report HERE!

Thank You, ShtfPlan.com Staff

Share
Categories
Bear Market Central Banks Coronavirus COVID-19 Donald Trump Economy Fear Federal Reserve Headline News Helicopter money infrastructure Intelwars jobs Market Crash panic Rally voters Working zero interest rates

SAY HAIL MARY: Trump Bets AGAINST Stocks – DISASTER AWAITS!

This article was contributed by Lior Gantz of The Wealth Research Group. 

The tides have completely turned; if you want to be able to INTERPRET Donald Trump’s latest move, you NEED to understand the delicate dynamics of INTERNATIONAL politics and how DECEPTIVE and sophisticated politicians need to be in order to ultimately PURSUE and ACHIEVE their desired goals.

On Monday and Tuesday, Trump didn’t appear OPTIMISTIC at all. He sounded concerned and he sounded BEARISH, but why?

After first downplaying the COVID-19 disease as a mere case of acute flu, followed by weeks of reassuring messages, he totally CHANGED his tune and is now the most pessimistic of all the people that the Task Force conferences feature.

There are two MAIN reasons for this, chief among them being that he wants MORE stimulus. And in order to get it approved QUICKLY and with less friction, he needs to create URGENCY.

This is textbook politics and what Trump is ATTEMPTING to do is make it IMPOSSIBLE for the average voter to go with the Democrats because what the democrats have chiseled on their flag is an INFRASTRUCTURE PROGRAM and Donald is gunning to rob them of it and make it part of his list of achievements!

 

Trump’s WET DREAM has been zero interest rates, which make it possible for a politician to have the MIGHT and the INNOVATIVE genius of the collective business community in the U.S. – the strongest in the world – behind him, while he PUNTS the national debt into the 2nd half of the 21st century.

Compare this to the situation in Europe or Japan, where zero rates and negative rates have done ALMOST nothing to create productivity. This is because the governments have used it for UNPRODUCTIVE social programs and CORRUPT purposes, like increasing their own salaries and terms and for buying votes, by enacting unsustainable social programs. In the United States, an infrastructure program is LONG-OVERDUE and will dramatically boost productivity.

Trump knows that even though the experts THOUGHT that stock market performance was the PRIMARY cause of his popularity, his APPROVAL RATINGS are actually on the rise, while the stock market just underwent its WORST first quarter of a CALENDAR YEAR in history!

Q1 was the worst 90-day period in Dow Jones history. For the S&P

500, it was the worst since 1938!

President Donald Trump appears DAILY in the news. COVID-19 is offering a FREE platform that puts him in the spotlight every single 24-hr loop. He is in the voter’s face constantly.

This is the result:

Courtesy: Zerohedge.com

Donald Trump HASN’T stopped caring about the economy; that’s ALWAYS going to be his bread and butter. But he knows that by spooking investors into SUBMISSION, causing the ROUND TWO sell-off that I predicted in both my Sunday and Tuesday letters this week, he can PUSH his infrastructure plan, worth north of $2T, SUPER-FAST.

Trump’s economic team saw the INCREDIBLE rally, which began after the Federal Reserve stopped the panic in the credit markets and after the announced HELICOPTER MONEY, which is already going to make him SUPER-POPULAR anyhow. He then realized that the Treasury could issue a massive 0% BOND, with a 50-yr lifespan that could put hundreds of thousands of displaced workers from the industries that will struggle for years, back to work.

This was an UNUSUALLY short bear market rally, but very sharp, actually creating a new bull market. Don’t let these swings mess with you since they’re ARTIFICIAL.

Courtesy: Zerohedge.com

Wall Street, sensing Trump’s game here, is WAITING on the sidelines until this infrastructure program becomes a DONE DEAL. In the meantime, they don’t mind seeing the market BURN for a bit.

Washington and Wall Street are bearish; don’t fight them.

On the other side of this battle, though, lie GREEN PASTURES.

Share
Categories
Bailouts Congress destroy American lives Emergency Preparedness experts Forecasting Great Depression harm businesses Headline News Helicopter money individuals Intelwars irreparable Jim Cramer jobs layoffs money not enough surgical masks

Jim Cramer: Bailouts Won’t Be Enough To Stop COVID-19 Economic Fallout

The economic ramifications of a nation on lockdown due to the coronavirus outbreak are going to be dire. They could end up being far more severe than the pandemic itself, and according to Jim Cramer, the government’s bailouts won’t be enough.

Now is the time to prepare for an economic crisis. Whether we actually dip into another Great Depression will greatly depend on when our freedom is restored and we can all get this economy going again. “Legislation isn’t enough,” the “Mad Money” host said. “Once Congress passes this bailout bill, both businesses and individuals will have some cash. But wouldn’t it be better to have actual customers?” Cramer said according to a report by CNBC.

Coronavirus Crisis: The Virus Will Bankrupt More People Than It Kills

Cramer said he is confident Congress will “one way or another” be able to come to terms on a coronavirus relief package, even as the economic stimulus bill before the U.S. Senate again failed a key procedural vote Monday. Cramer suggested that once Americans are healthy, they can begin to go back into the workforce, however, that’s a little disingenuous. Health Americans are also on lockdown preventing them from participating in the economy and helping to get it going again.

Will A Face Mask REALLY Protect You From The Coronavirus?

“The problem? That can’t happen until we have enough ventilators and enough testing to cover the whole population,” Cramer said. “The lack of those things and surgical masks are what makes this situation so dangerous. Without them, the patient could die and healthcare providers could get sick.”  While we should all be trying to prevent the spread of this virus, doing so has done irreparable harm to businesses and individuals already.  So at what cost do we continue to destroy American lives?

The American people want a “sense of hope” that there will be an end date to the new stay-at-home reality, Cramer said.  “A realistic date would at least give us something to look forward to,” he said.

Prepping For Two Week Quarantine: Emergency Food Supply

Share