This Global Depression Will Be Brutal – Tens Of Millions Of Americans Can’t Pay Their Bills And Are In Danger Of Eviction
Most of us have never experienced anything like this in our entire lifetimes. Fear of COVID-19, endless civil unrest in major U.S. cities
and a whole host of other factors have combined to plunge us into the
worst economic downturn since the Great Depression of the 1930s. On
Friday, the Labor Department announced that the unemployment rate in the
U.S. fell to just 10.2 percent
last month, and if that number was actually accurate that would be
pretty good news. Unfortunately, it simply does not square with all of
the other numbers that we have been seeing. According to John Williams
of shadowstats.com, if honest numbers were being used the unemployment
rate would actually be 30 percent
right now, and I believe that figure is much closer to the reality that
we are facing. In February, 152 million Americans were working, and
since that time more than 55 million
have filed new claims for unemployment benefits. Unless tens of
millions of those people have been filing fraudulent claims, there is no
way in the world that the unemployment rate should be about 10 percent
right now.
Other numbers tell a similar story. According to one recent study, 24 percent of all Americans have missed at least one bill payment since the start of the COVID-19 pandemic…
What that sounds like is an economic depression.
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Blogger's note: They, the Democratic Governors, want you to believe that they are protecting you from that darned virus. Yet they are destroying everything else.
Indeed, paying off bills are an unavoidable part of life, even during a pandemic. Unfortunately, a new survey of 2,000 Americans finds that one in four (24%) have already missed at least one payment since the pandemic began.That doesn’t sound like a recovery.
Among that group, 26% say they haven’t paid their cell phone or cable bills. Another 25% failed to pay for streaming services, and perhaps more worryingly, some of their electricity or utilities bills.
What that sounds like is an economic depression.
Read more
Blogger's note: They, the Democratic Governors, want you to believe that they are protecting you from that darned virus. Yet they are destroying everything else.
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