👉The Unemployment Is Already Worse Than The Great Depression !!

👉The Unemployment Is Already Worse Than The Great Depression !!





A second wave of layoffs has begun. The first people to lose their jobs were workers at restaurants, malls, hotels, and other places that closed down. Even white-collar professionals who thought their jobs were secure are increasingly facing unemployment. The U.S. economy may shrink as much as 40% in the first semester of 2020. ADP reports private-sector sheds 20.2 million jobs in April. More than 5 million more Americans filing first-time claims for unemployment insurance last week; the Labor Department reported Thursday. That brings the crisis total to just over 22 million, nearly wiping out all the job gains since the Great Recession. And think of all the people who cannot get on the unemployment rolls; this number is so understated!! This week we also crossed the 25 trillion national debt mark !! That's just crazy, and I'm sure we'll land at 27 trillion this year, at least. Maybe even 28 Trillion. GDP growth going negative, unemployment reaching above 30%, More bailouts reaching a total of more than ten trillion, etc., all before the end of 2020. The U.S. Treasury plans to borrow a record $3 trillion from the Fed., in the second quarter alone. Massive food shortages, crime running ramped, foreclosures on a scale you can't even imagine, credit card & auto loans literally imploding, some banking failures, a complete collapse of the Commercial Real Estate market due to retail closing and corporations moving to home-based remote working, service economy imploding. Keep the citizens on guaranteed minimum income, bring in unskilled, illegal, foreign labor at a lower cost. This is the supporters of the Chamber of Commerce's dream scenario coming true. In 12 months those 20 million will no longer be 'unemployed' but instead will have "stopped looking for work," and therefore, they won't be unemployed anymore. US Debt soon to go over $30 Trillion and climbing at a rate of $250+ Billion per week. The US Services sector, which represents two-thirds of the economy, fell at the fastest pace on record during the first month of lockdowns. grocery stores and restaurants are not getting their requested allotments of beef, and many have already run out of chicken and pork Consumer debt hits a new record . Household debt balances through March totaled $14.3 trillion, a 1.1% increase from the previous quarter and now $1.6 trillion clear of the previous nominal high of $12.7 trillion in the third quarter of 2008 during the financial crisis. The U.S. trade deficit soars 12% in March. In other words, everything is going as planned. Greatest Economy Ever. And the Stocks are still rising on these good news! Of course, it does, because the Fed is buying the stock market. It is like the Venezuelan stock market. Given the fact that over 30 million Americans have filed for initial jobless claims in the last six weeks, it is perhaps no surprise that the economists expected a 20.5 million ADP job loss in April. In fact, silver lining, the number 'beat' with 20.236 million. The actual ADP data was better than expected, and therefore, it was a beat. That is peak FUBAR with a cherry on top. You have to love a market where there’s a 20 million lost jobs report, and the futures show green because the loss was less than expected. How in God’s name do you price in the loss of 20+ million jobs and STILL the market is only about 20% below its all-time high! It ain't called a rigged casino for nothing. That sums up these markets. These markets are all high on Fed QE dope. I really am surprised that Congress has not amended the Fed's charter so that it can legally purchase stocks. If that happens, it will be on full display with no more pretensions of this being a market. All the stock market is, a casino with no drinks. Remember; The worse the economic news is, the higher stocks will go. The stock market is not the economy. Expect amazing amounts of fakery and magical thinking today as the markets ignore horrible news. The markets live in a fantasy land disconnected from the physical realities that they are ultimately based upon. Most Americans don’t own stocks, and the ones that do it is through a 401k. But every American looks at the stock market and watches CNN like they’re invested up to their eyeballs in it. 50% of Americans had less than $500 in their bank account at the peak of “the greatest economy ever.” Now what? They will try to resolve this problem by deficit spending and printing $10 trillion. It won't work, and the people who actually work and pay taxes will be lucky to get $500 billion of it. THEY DON'T CARE ABOUT YOU! Not to get too worked up about this, but do people understand we are past the unemployment percentage at the height of the Great Depression? And we are now purposely killing small businesses! The engine is off the cliff, soon to be followed by the caboose. Get ready !!. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. The Federal Reserve is on track to backstop every private, state, and city credit/debt issue. They are LITERALLY buying it all. The virus is the scapegoat for a failed financial markets. The banks have done it again, and again they have been bailed out with the virus as the cover. Privatize the profits and socialize the losses. Financial Buggery in full bloom with the Fed's printing press red hot pouring out trillions of effectively counterfeit dollars. The one-percenters are going hard. Financial system fakery of the highest order. Thirty million out of work. Wall Street trickery, and deep state stalling/the way, until drones patrol every being outside and inside their homes. And the market casino for the 1% goes higher and higher. Wake up. It's over. CNBC reports : The US private payrolls drop by 20.2 million in April, the worst job loss in the history of ADP report . The biggest losses came in services and hospitality, along with trade, transportation, and utilities, as well as construction. Big business suffered the worst losses at more than 9 million jobs. Job losses of this scale are unprecedented. The total number of job losses for the month of April alone was more than double the total jobs lost during the Great Recession, For context, the largest monthly job loss during the great financial crisis was just 834,700! Far more Americans have lost their jobs in the last month than jobs gained during the last decade since the end of the Great Recession. Destruction is occurring far more quickly than statics can be calculated. Every hour outdated every statistic. The main difference between now and 1929 will be the speed at which this all falls apart. And the corrupt federal government decides to increase foreign worker visas in the face of record unemployment. Criminal conspiracy against the American people. So who's surprised? We've filled our economy with crappy, worthless, unneeded garbage. We gave away the middle-class jobs and replaced them with retail and hospitality, which no one needs and are totally expendable. You can blame the globalists, and the talking heads economists who said that globalism would result in "more jobs, better jobs, and higher-paying jobs," all of which was a lie. We aren't just sliding into a depression, we are having our faces pushed into a pile of horse manure. Controlled demolition of the world economy. The end of decent middle and working-class jobs. We'll be pushed to desperation with the multitudes grateful for their Universal Basisc Income ration due to the economic crisis these bastards created. We have a humanitarian disaster developing in the First World. Peeps got no savings. Corporates drained all the blood out of the stone. Just debt slaves emulating their idols. People were far too quick to take on consumer debt for feel-good things they wanted, instead of preparing for a rainy day. Debt is a trap the banks laid, and far too many people fell for it. There are plenty of irresponsible people. But let’s put most of the blame where it belongs—the FED and the government. They’ve stolen from all of us. Debt is slavery, incarceration. It prevents you from challenging wrongs; speaking out, it literally stifles civil rights and the checks and balances required to uphold various laws, labor, civil and environmental. When we speak of debt, or profit, or proprietary rights, we are acknowledging the Capitalist greed and hubris of the elite and disqualifying the general needs of the population. The government isn't the problem because, in the U.S. and the world, the central banks attached to the military and the predatory capitalists are trying to extract profit by any means necessary, blackmail, corruption even war. The economy was collapsing before this pandemic. The economic reset started in September 2019 and not because of some alleged virus from China. And actually, this COVID-19 pandemic looks like the perfect cover-up for what happened then and for what is happening now economically. There seems to be a big qualitative difference in job losses. They are very industry and wage level specific. In 2008 banks, tech, and other elites lost jobs, which was "bad" vs. now where we just force the "essentials" to carry on and ignore the rest who don't matter because they don't earn much and don't have any wealth to speak of. That means, for the politicians, bankers, and 1%, they really don't matter in the end. As much I would love to rejoice in the rebound of all the people getting put back to work by summer, it's never going to happen. Stick a fork in many small businesses that would have hired back. And even if they do hire back, businesses big and small are now crippled by 'social distancing,' limiting them to about 25-50% capacity. Major employers are now evaluating how much of the staff they really need to bring back. Lastly, a HUGE portion of the remaining workforce that still have jobs took a pay cut that is supposed to be 'temporary',not. This is 20% (or more) of the economic spending that will not be put back into the system. A corporation that makes profits in the billions every year should pay their employees according to there profits . That was the idea behind a fair practice of capitalism. Instead We see crony capitalism for the masses and Socialism for the Rich. As we gave bailouts twice at the beginning of the 21 century. While this was an orchestrated takedown, it was coming. Building complexity meant building fragility leading to the 'something that can go wrong will go wrong' moment. The only question is, what will rise from the ashes. It will be an interesting contest. Only one thing to do people. Sell stocks and buy gold/silver. The market is about to crash again. The economy, whether you know it or not, has been in the SHITTER for a long time. The political horseshit has been at fever pitch levels. It's nonsense to the extreme. In 2008 the system died. We've been on a life support system that is also failing right now. This job loss crisis is going to lead to your economic job loss crisis. 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