👉Unemployment Claims Surge to Nearly 1 Million in First Week of 2021

👉Unemployment Claims Surge to Nearly 1 Million in First Week of 2021 The initial weekly jobless claims increased by 181,000 to 965,000 in the week to Saturday, disappointing market expectations. Worst weekly jobs report since august. The number of Americans who applied for jobless benefits soared in early January to a five-month high of nearly 1 million as more workers lost their jobs due to business closures and restrictions to combat the winter resurgence of the pandemic. Initial jobless claims filed traditionally through the states leaped by 181,000 to a seasonally adjusted 965,000 in the seven days ended Jan. 9, the government said Thursday. It was the highest level since August. Actual unemployment is 26%. Time, complacency, and crowd control that is part of what is gained. The government has been massaging numbers for a few decades now in order to be able to make reports look better than they are. I remember when the government eliminated M1 money supply velocity in the 1980s. As regulatory capture has now turned a republic into a crony-capitalist system where the wealthy pull the levers, the FED eliminates indicators that disprove this phenomenon. It is all about creating hope through false data. It doesn’t make any difference in the facts. Any hope felt by the masses through media pushes the V-shaped recovery hypothesis. They will push it until it becomes become a slow drawn out U, or until they can figure how to manipulate the GDP more than they do presently. Anything it takes! The government will print money and give it to consumers, which has the salubrious effect of inflating the monetary base and stock prices. The US is in an economic meltdown, but the stock markets are at an all-time high. Millions are forced into the bread lines because of an autocratic shutdown causing widespread unemployment and small business closures, most of which will never reopen. And wait until the UI Benefits in the stimulus bill kick in. It will add another 5 million that have been dropped off by some states with shorter benefit weeks allowed. A direct correlation between economic shutdowns and unemployment. I mean, who could have seen that coming? Economic shutdowns in addition to High insurance rates, High corporate tax rate, high personal tax rate, high workers' compensation rates, high litigation cost states, burdensome regulatory environment, rabid public sector unions, forced union membership, closed shop states, high cost of living, traffic congestion, liberal statehouses. The data shows trends; the trends now show increasing harm to the US economy. Each increase in the number of unemployed is also an addition to the number of uninsured. Reportedly, a person who recovered from this virus got a bill for medical costs of $1.1 million. Who will pay such bills if many Americans do not have the funds to pay them because they are uninsured, unemployed, and often have continuing physical problems? Counties, states, and hospitals/medical centers will have to pay or bear those bills and costs. Admittedly, those bills include a profit margin. Indeed, insurers have had medical providers inflate their bills for many years to maximize gullible insureds’ co-pays, while the insurers get agreed-upon, huge deductions, so they can pay off the bills by paying a tiny fraction of their totals. Nevertheless, the fact remains that many hospitals are going bankrupt because they are incurring wages and other costs to treat the pandemic patients, while they also cannot perform their money-making plastic surgeries, etc. More will lay off staff or cease to exist. States and counties will have severe funding shortfalls since they must pay many of the bills of the uninsured. Unlike the Fed, they cannot just print money. With the destruction of more small businesses by renewed closures, maybe also in fall or winter again, vicious circles are starting to occur with increases in the numbers of unemployed and decreases in the numbers of small businesses. The opposite of the beneficial, multiplier effects that occur with the start of new businesses, who pay bakers, restaurants, rent, etc., and thereby those bakers have more wealth to spend. The passing of the next stimulus bill, soon to be announced, will approach 2.2 trillion dollars. Now the States will stay above water, and then we will entertain another bill for infrastructure soon! It will never stop from here on out until the currency is TOAST! But don't worry, the digital currency is on the way. This will cure everything, so they think. This is just the start; you ain't seen nothing yet. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to hit the like button, hit the subscribe button, and don't forget to also hit the notification bell. When you have a government that's promised state employee pensioners will make $100k plus a year for life while the rest of the non-state employees pay for it and saying 'I'm getting the hell out of here,' you might have a problem. When you destroy the currency by promising the moon, you destroy the country. Welcome to the Biden economy: More shutdowns, more unemployment, more food stamps, more relief checks, more bailouts, more masks, more riots, more suicides. It's the cycle. The cabal moves the market up and down as they need. The thing is rigged like hell. They always give away the plan. They reveal their plan so they can say they told you so. It’s easier to close an economy than to reopen it. Many businesses have closed, but many more will follow when the recovery is much slower than anticipated. And it’s not just restaurants, bars, and theaters that will be affected. There could also be large disruptions in travel, education, transportation, and real estate. It may be years before we adjust, and we may never get back to where we were. Being evicted, not having food or the money to buy it, being locked up...it's like a strangled hamster will go online and buy everything...at least that's the expectation. And yet, the market keeps rocketing higher. The bad news is good news. It's positive even if it's negative because we predicted even more negative. All that matters is the stock market – we are all witnessing a crime in progress. As translated from the data, the Stock increase does not bring more jobs; in fact, it increases joblessness. Therefore, a lower interest rate to bring up the value of the financial assets won't help the labor force employment rate. Most of the stimulus money is really just free money to Wall Street. Those impacted see very little help. Let's be fair, We the People, aren't getting trillions for doing nothing. Only something along the lines of 11% of that $2.3 trillion went out in unemployment, direct stimulus, or something relatable. Everything else was huge pork projects. Most of the bailout money goes to the politically connected class, not the average Joe Sixpack. The looting is without precedent. 40+ weeks of astronomical new jobless claims. Shutting down businesses will do that. Economist warns many jobs could be lost permanently. Unemployment higher, FED prints more money, money goes to the rich people and into the stock markets. And the market keeps on ripping. All of this money going into the markets is free money from the federal reserve. They print it, both openly but mostly in secret, and the investment bankers invest it into this trap called the stock markets. And soon, next year, I believe they will pull the lever on that trap door, and the bottom will come out from under all of the investors that were not part of the club and who were not forwarned. The market cheers excessive jobs loss numbers. It will continue to soar since all those former small business owners will take more and more of the available jobs. If they were running a successful small business, they are a far more valuable employee than any newly minted graduate of either high school or college. Biden can print all he wants - there is no - zero - nada - nothing - in terms of organic growth in the economy. 1) Print. 2) Buy imports. 3) Distribute. 4) Consume. Print more. Just fresh cutback, waiting to become kindling. Echoes of the German '30s. The lure of easy money is there, just like prior to 2008 and prior to 1929. And we keep taking the bate. But for those who are part of the club are told in advance the plug is about to be pulled, they will be the winners, and everyone else will be the losers. We are entering the Dark Period that was promised. Like all politicians, it was just explained as something else. Get ready for much more. I remember the days when a trillion was a ton of money. Now it's thrown around like it's chump change—toilet paper US dollar. Soon (within three years), we will have a $25 trillion economy, with a $50 trillion national debt. And 50% of unemployment. Universal Income all the way baby! They say getting $2000 stimulus checks out is their first order of business. If $2000 is good, why not $10,000? All they have to do is start a night shift at the printing press and maybe purchase some additional presses. Also, if they print $100 bills instead of the usual $20 bills, it would increase the pace of wealth creation by 500%. People could really use that money to pay down their debts, which would free them up to put more purchases on credit. I really wish they would bring back the $500 notes and $1000 notes taken out of circulation in 1969. It really is hard to buy things with cash of higher value, but perhaps that is the point? What I fear most about the global central banks creating digital currencies is the control over how we spend it, when we spend it, who gets negative rates, which gets positive rates, who gets more stimulus (winners), who gets less stimulus (losers), etc., etc., etc. And if you thought American life was complex today, you will be shocked how crazy and complex it will get if the government controls our spending and survival habits… When you merge Monetary and Fiscal forces with a government controlled digital currency, you create what I call a “Behavioral Economic Incentive System,” which is anything but a free society and free markets… Hoping I’m wrong. Yet, I do believe we will see more economic, society, government, healthcare, currency, and taxation changes in the next 3-5 years than we have seen in the last 30 years. It is going to be a wild ride…so pick and choose your time wisely as we all end up in the same hole in the end; the trick is to minimize the time spend in the rat race maze. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my backup channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more