👉Jobs Apocalypse, Debt Over 25 Trillion, Hyperinflation - The Economy Headed Off The Cliff !!

This is the worst economic catastrophe in the United States in decades. Job losses reach historic proportions. An additional 3.2 million Americans applied for unemployment benefits the last week alone. Bringing the total to 33.5 million jobs to have been lost since the lockdown began. 20.5 Million jobs lost in April alone. We just had the worst Jobs report in US history. The unemployment rate has reached 21 percent of the workforce. That's almost the entire population of the state of California or the equivalent of 1 in 5 Americans who were employed in February. The US unemployment rate is expected to rise to 16% in April from just 4.4% in March. We're looking at 1/4 of the workforce unemployed by the second quarter. Nearly three orders of magnitude worse than the worst readings of 2009. WITH OVER 33 MILLION JOBLESS CLAIMS FILED IN THE LAST SIX Weeks. MILLIONS MORE EXPECTED. TODAY STATE AGENCIES ARE ALREADY PUSHED TO THEIR LIMITS. SOME UNEMPLOYMENT SYSTEMS BUCKLING UNDER THE PRESSURE, WEBSITES CRASHING, HOURS LONG WAIT TIMES ,AND FUNDS LOST IN THE MAIL, ADDING TO THE GROWING FRUSTRATION. This feels like a prolonged episode of The Twilight Zone. The United States is facing the biggest unemployment crisis since the Great Depression, as many companies have been quick to lay off employees. Economists say the best opportunity for any kind of recovery is to get as many workers back to their old jobs as possible. Much of this will depend on how the reopening will go. Returning to a previous job is generally much easier - and faster - than looking for a completely new job. It also gives laid-off workers a greater sense of comfort for their finances. Studies show that workers who believe they are within a few weeks of a new stable job are less likely to fall into depression or stop paying bills. But economists warn that optimism may be out of place. The longer people are out of work, the less likely they are to be called back. In an alarming trend, companies such as General Electric and Nordstrom initially announced that they had put workers on leave, a temporary layoff where workers are not paid but usually maintain health insurance. But now some of these layoffs are becoming permanent layoffs. MGM Resorts has just said it could make its layoffs permanent if companies don't bounce back this summer. A new report from the Becker Friedman Institute of the University of Chicago predicts that 42 percent of recent layoffs from the pandemic will result in permanent job losses. There are two big problems: Firstly, many companies are going bankrupt or closing permanently, so they won't need workers. Secondly, even after the reopening of some sectors of the economy, many people will hesitate to shop, travel, and go out to eat as they did before. Companies that operate at half capacity or that switch to the internet or take-away do not need almost as many workers. Economists have urged companies to put workers on leave instead of laying them off, in order to maintain a sort of relationship between employer and employee even if a worker no longer goes to work. About 1 in 4 laid-off workers say they will be in financial problems in less than a month if nothing changes. Of those laid off, 43 percent say the epidemic has been a "serious source of stress" in their lives, compared to 29 percent of other Americans, according to the Post-Ipsos survey. Half of the laid-off workers say they have been able to apply for unemployment, but less than 3 in 10 have received money so far, according to the results of the Post-Ipsos survey. Of those who tried to apply but were unsuccessful, 4 out of 10 report that they were unable to complete the application because the phone lines were so busy that they couldn't get through or their state's unemployment website was not working. The next few weeks are likely to be a critical step to see how many unemployed workers start returning to work. New Small Business Administration loans and grants - known as the Paycheck Protection Program - require companies to re-employ employees by the end of June. Although a large proportion of workers are called back, millions of Americans are likely to remain unemployed. The nation's unemployment rate is expected to reach 20% this spring . Unemployed Americans and those on lockdown are no longer spending frivolously. They are not spending on gas, new vehicles, public transit, lattes, and other fancy coffees, eating out, sitting in the bar, private coaches/gym instructors, the clothing they don't need, and any other frivolous things. Many are now cooking their own food at home. But all that spending was what was keeping the economy afloat. Now the economy is cratering. Many, if not most companies will be looking to cut costs. Even some of the most successful profitable companies like Google and Microsoft have recently announced cutbacks on spending and hiring. Keep in mind , the businesses that laid off the most are those places where the rest of the people spent their extra money: restaurants, hotels, airlines, other tourist items, golf courses, experiences, etc. The consumer is the powerhouse of our economy. Now people are using their extra cash to buy (prop up) stocks at inflated prices heading into huge economic headwinds, in other words, buying at the worst time. While many of the greatest investors of all time like Warren Buffett say, "eh, no thanks, not buying now, in fact, I'm selling, good luck." Lots of forced downsizing, especially in the private sector.As if 2008 was not bad enough for private small businesses! Between this lockdown, cheap stuff from China, cheap services from India, Amazon, and broke middle class, small businesses may completely disappear. Who will buy stuff anymore since fewer will have any discretionary income? You will be left with government employees, tech people, The 0.01%, and lots of very cheap laborers from overseas. Given that small businesses are the backbone of any strong economy, this development does not bode well for the USA. They'll bail out the businesses that support their frauds, and the good people of this country get nothing. Restaurants and especially bars are being deliberately crushed so that people can't meet and talk politics with each other anymore cause they might get pissed-off and start reaching for the pitchforks. Factor 15% to 20% of small businesses will not reopen or will not last four months when it does. The media has done a psyche job that is ruinous to the many who will have changed their way of interacting in the world. From travel to shopping out and certainly any venue with a group of others. We're well past Recession and tumbling heading in a Depression. The fake economy comes tumbling down. The coronavirus would be the domino that would cause the other dominos to fall down. The world Bank and IMF have a magic money tree with their luck cash off to feed the hungry masses. "Great recession," "COVID Recession." Let's call this fragile, China-doll economy what it really is: A banker induced fraud, where the money is worthless (so why are we working again when money is priced at 0%.) and Wall St. bets have crippled the country for generations to come. Stick a fork in the Fed. It's the least those satanic white-collar criminals deserve. It is going to be mid-summer before the rest of the nation figures out what has happened. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. More bad macroeconomic data should be good for more gains in the centrally planned wealth transfer mechanism ,. the stock market. Rigged Casino FUBAR. Seventy percent of America's economy depends on Consumer Spending, and 50 percent (or more) of those consumers are now permanently unemployed and slated for increasingly poverty-stricken lives. The dollar will fail, or the Dole will be reduced to poverty levels, and all one needs do to see America's future is the math. The dollar has lost 96% of it’s purchasing power. The debt is over $25 TRILLION, and debt to GDP ratio is over 117%!!! That is BONKERS!! And the Federal government doesn't seem to care. We are in for a world of hurt. This debt is something we will never get out of. Every taxpayer's part of that pie is now over $200,000! In 2008 the debt stood at around $10 trillion. So in just 12 years now, we've gone up another $15 trillion in debt. And the projections for 2024, not even four years away. Spoiler alert. It's over $42 trillion! Financial buggery now in full swing. Money printing is counterfeiting by the Fed and the one-percenters. 300-year cycle depression this way comes. Bank of England Sees Worst Slump in 300 Years from Corona Virus. We have no rainy day account. We have no savings account. The Fed has orchestrated this crisis in coordination with other take-overs. What the feds are doing is buying it all up. Past economic, historical events show a sweep or transfer of wealth that has been an ever-larger swath each time. That’s because we let multinational corporations and the elite rob us blind, offshore our industrial base, and the rest went to forever wars that serve their interests only. Americans need to be released from “forcible home arrest” if any recovery is going to stand a chance. More people will die from the economy and lockdown than the virus. Already people with cancer are not able to have treatments and procedures. Elderly people do not have life-prolonging procedures; people arent having their yearly physicals. All while nurses and doctors make tik tok videos in empty hospitals. The negatives of the lockdown will far outweigh the negatives the virus would have had had we opened a month or two ago. The virus was used as an excuse to provoke the policy response of shutdown/lockdown, which popped the Everything Bubble, allowing for extreme measures by the Fed and the Government. The economy has been placed in Fed receivership for reorganization along technocratic socialist lines. Markets are now officially dead, and centralized management has been established. The labor force has been started along the path towards dependency via Universal Basic Iuncome beta test programs such as the $1200 payment and the expanded unemployment benefits. The coronapanic was essentially a controlled demolition. While there may be occasional controlled demolitions of select areas of the financial system or economy from time to time, there will be no uncontrolled collapse. The ongoing crime spree that is our economy has been going on far longer than the virus. I think any American that still has a few brain cells that have not been killed off by big pharma poisons and GMO soy knows that the repo market and hedge funds blew up long before this virus with the full faith and credit of the Mainstream media. What we really need is to End the Fed, debt jubilee, and restart the economy with honest money that does not allow misallocation of capital to the Satanists. Solving a debt problem with more debt is not the answer. This was The Atlantis Report. Please Like. Share. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. 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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.