The nation’s economy is Dead. The politicians’ COVID War killed it.
Go back to the beginning of the lockdowns. Listen to what Wall Street said: “It will be a V-shaped recovery.”
Remember what Main Street was saying back then? “It will come back.”
No, it won’t, and no, it isn’t.
From fine dining to Disney World, a face-masked, socially-distanced new ABnormal has sucked the experience of pleasure, joy, and socializing from the human spirit. Going out to eat and having to abide by vast rules and regulations won’t bring in the crowds… especially as capacities are greatly limited.
Yesterday, the U.S. Bureau of Labor Statistics reported that nearly half of Americans, 47.2 percent, are jobless.
This is unprecedented. Yet, it is barely news, and the implications are downplayed and/or ignored.
How will the masses of unemployed and the massive bankrupt businesses boost America’s service sector economy that has been put out of service?
Real vs. Fake
While Main Street is being economically ravaged, Wall Street, thanks to the Federal Reserve and U.S. governments’ money-pumping schemes, which we have reported in great detail, keeps flying high.
The Dow and S&P 500, each up over 16 percent, are on track for having their best quarterly performance since 1998. The NASDAQ spiked over 28 percent, hitting its biggest quarterly gain since 2001.
As we have also detailed as the trend began last year, the global economy was already in contraction. The facts and data are in the Trends Journal.
Now, a dozen states are re-locking down businesses to stop the rise of virus cases.
TRENDPOST: Virus cases do not equal deaths. Again, as noted in this Trends Journal and others, an estimated 99.35 percent recover.
For those who catch the virus, as the Associated Press has stated when reporting on the virus, yet absent from the junkstream news:
“For most people, the coronavirus causes mild or modest symptoms, such as fever and cough, that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe life-threatening illness, including pneumonia and death.”