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We Are Witnessing Economic Carnage Like We Have Never Seen Before, And The Economy Is Going To Continue To Bleed Jobs

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Now we are up to 33.5 million jobs lost.  In just 7 weeks, the U.S. economy has been completely turned upside down, and the numbers are unlike anything that we have ever seen before.  On Thursday, the Labor Department announced that 3.17 million Americans filed initial claims for unemployment benefits last week.  That brings the grand total for this crisis up to 33.5 million, and that figure absolutely dwarfs what we witnessed during the last recession.  And as I discussed yesterday, even the mainstream media is now admitting that millions of those jobs are never coming back.

Yes, some Americans will be going back to work now that the lockdowns are being ended, but for now it is being projected that the job losses will continue to surpass any gains that are made by workers that are returning to their old jobs.

In fact, one prominent economist told CNBC that it will likely take until mid-June before the number of Americans filing new claims for unemployment benefits each week falls below a million…

At the current pace, the week claims numbers should fall below 1 million by mid-June, according to Ian Shepherdson, chief economist at Pantheon Macroeconomics. “We’re very hopeful that June will see the beginnings of a rebound as states begin to reopen,” Shepherdson said.

To put that in perspective, prior to this year the all-time record for a single week was just 695,000.

So even when we get down to a million new claims each week, that will still be a catastrophic level.

And the truth is that these numbers don’t even tell the entire story.  Because state unemployment websites have been so overwhelmed, there are vast numbers of unemployed Americans that still have not been able to successfully file claims.

One of those unemployed Americans is Florida resident Roselande Guerrier

Roselande Guerrier lies in bed each night, waiting for her cellphone to display 7:30 a.m. – when the Florida unemployment office opens – and calls, aching for answers, searching for help.

“All night, my eyes are open,” she said. “Five o’clock, my eyes are open. I call at 6 o’clock and the office is closed. I call at 7:30 and boom, ‘All lines are busy.’ Every number they give me, I try, but they’re always busy.

She has been trying day after day, and she still hasn’t been successful.

So for now she doesn’t have a single penny coming in, and she has three hungry kids to feed

Guerrier, 36, has spent 13 years changing sheets, picking up dirty towels and scrubbing bathrooms as a housekeeper at the Fontainebleau hotel, the iconic Miami Beach resort. At night, she would do the same at the Cadillac Hotel & Beach Club, an art deco resort a few blocks away.

Both those jobs vanished on March 23 when the hotels were forced to close because of the COVID-19 pandemic. With three children to care for, she hasn’t seen a nickel of unemployment benefits or federal relief money.

Could you imagine being in her situation?

When you have little ones depending on you, it can be absolutely soul crushing to have nothing to provide.

Sadly, the job losses just continue to roll on.  This week, several more big companies have publicly announced layoffs

The layoff announcements by larger companies continue on a daily basis. Yesterday, Uber announced that it would lay off 3,700 people; Haliburton announced that it would lay off 1,000 people at its corporate headquarters, after having already laid of thousands of people elsewhere; the Natural History Museum in New York City announced it would lay off 450 people; etc. etc. It’s a loud and terrible drumbeat. Thousands of smaller companies are laying off people without media attention.

If you were assuming that the U.S. economy would just bounce back to where it was before, you can forget about that right now.

In fact, Bob Michele told Bloomberg that it may be more than a decade before U.S. employment returns to the levels that we saw prior to this pandemic…

J.P. Morgan Chief Investment Officer Bob Michele predicted it will take 10-12 years after the pandemic for U.S. employment to get back to its pre-coronavirus level, insisting it won’t be as simple as turning the economy back on.

“No, it’s not that simple … it’s going to take years, or longer to get back to where we are, or where we were,” Michele said on Bloomberg when asked if reopening would be as simple as “turning on the lights.”

Ladies and gentlemen, this is what an economic depression looks like, and it is going to be with us for the foreseeable future.

Of course Congress certainly didn’t help matters when they created a big, fat juicy incentive for people to stay unemployed.  As Zero Hedge reminds us, millions of unemployed workers are now bringing home a lot more money than when they were actually working…

Worse still, the final numbers will likely be hurt even more due to the bailout itself: as a reminder, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed on March 27, could contribute to new records being reached in coming weeks as it increases eligibility for jobless claims to self-employed and gig workers, extends the maximum number of weeks that one can receive benefits, and provides an additional $600 per week until July 31. A recent WSJ article noted that this has created incentives for some businesses to temporarily furlough their employees, knowing that they will be covered financially as the economy is shutdown. Meanwhile, those making below $50k will generally be made whole and possibly be better off on unemployment benefits.

I certainly don’t understand why Congress would do such a thing.

If only we had elected at least a few people that could have brought some common sense to that institution…

Getting back to the economy, we continue to get more evidence that we are in the midst of a complete and utter economic implosion with each passing day.

For example, we just learned that orders for Class 8 trucks in April were down a whopping 73 percent compared to a year ago…

The misery in Class 8 heavy duty truck orders continues. Still struggling with the remnants of an order backlog that started almost two years ago with record orders in August 2018, the industry was unable to find an equilibrium prior to the coronavirus pandemic. Orders were sluggish and we noted numerous trucking companies that closed up shop altogether in 2019.

Post-pandemic, things look even more helpless. In April, the industry posted its worst order number on record as the economy ground to a halt as a result of the nationwide lockdown. Only 4,000 Class 8 orders were made last month, which is down 73% year over year and 44% from March.

Virtually every corner of the economy is dramatically slowing down, and that is going to force more layoffs in the months ahead.

As I discussed yesterday, one survey just found that 52 percent of all small business owners expect to be out of business in the next six months.  Traditionally, small businesses are the primary engine of job growth in this country, but now they are going to be failing at an unprecedented rate.

One of those small businesses that is in the process of failing belongs to wedding invitation designer Emily Rose Asher

Wedding plans nationwide have been shot to hell in this age of social distancing. But Chicago-based calligrapher and wedding invitation designer Emily Rose Asher still has some work creating “save the NEW date” cards that couples are now sending to guests when they decide to reschedule their big event.

Still, Asher said, whereas she used to earn thousands of dollars during wedding season, she’s now earning hundreds. And the fact that she still has any income at all likely will disqualify her for unemployment benefits. But she did apply for a PPP loan at the end of April after trying to sort through conflicting guidance from two accountants about her eligibility.

I have such respect for people that create a business out of nothing and slowly nurture it into a success.

But now fear of COVID-19 threatens to kill millions of such businesses.

In other words, millions of hard working Americans are about to see their dreams go up in smoke right in front of their eyes.

It is a tragedy of almost unimaginable proportions, and I wish that it wasn’t happening.

But it is happening, and what is truly sad is that all of this could have been avoided if we had made much different choices.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

The post We Are Witnessing Economic Carnage Like We Have Never Seen Before, And The Economy Is Going To Continue To Bleed Jobs appeared first on The Economic Collapse.

Michael Snyder is the publisher of The Economic Collapse Blog, The American Dream Blog and The Truth. You can follow him on Twitter right here.



Source: http://theeconomiccollapseblog.com/archives/we-are-witnessing-economic-carnage-like-we-have-never-seen-before-and-the-economy-is-going-to-continue-to-bleed-jobs
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  • katrin seelar

    The situation is complicated and heated. We are used to having freedom of action and movement. For us now look wildly any restrictions in our actions. People are different. Sometimes it is so unable to master our emotions we do stupid things about which we regret. There are already many cases where people without masks have been arrested. In one of the states at a gas station, a customer shot a security guard because without a mask did not allow to refuel the car.
    Now he’s going to need a good lawyer.
    I am familiar with the criminal lawyer of Toronto http://ernstashurovlaw.com/ and know how carefully Mr. Ashurov prepares for each trial, application, application and appeal. So I can only guess what a difficult job working for lawyers.

  • beLIEve

    ALL courte$y of a…….PLANdemic………..WHO ARE THE ENGINEER$ :?: :idea: :wink:

    *
    WELL WORTH WATCHING…..whilst available :idea: :mad:

    *

    PANDEMIC….the MOVIE…….BANNED by youtube and Vimeo. :idea:

    The version linked is a vignette 18-20 MINUTES :?: ……..

    Once you “hit” the linked page…….SCROLL DOWN for the VIDEO to play.

    Judy Mikovits Molecular Biologist and Medical Researcher

    https://plandemicmovie.com/

    * * *

    I have taken the information below; reference Italy & Vaccinated Servicemen….from the PANDEMIC video….excerpt. :smile:

    * *

    ITALY….the “supposedly” HIGH “covid” DEATH RATE…..is NOW said to be DUE to……

    1. High POPULATION of ELDERLY people afflicted with INFLAMMATORY DISORDERS

    2. EARLY 2019 Italy “used” a NEW FORM of INFLUENZA VACCINE…..that CONTAINED 4 DIFFERENT STRAINS of INFLUENZA…….

    INCLUDING the HIGHLY PATHOGENIC….H1N1…… :idea: THAT WAS GROWN IN A DOG “CELL LINE”. :mad: :idea:

    DOGS have/”harbour” :?: ……..LOTS of CORONA VIRUSES. :idea:

    * * *

    A “paper” published by the ….Armed Forces Health Surveillance Branch Air Force Satellite, 2510 5th Street Bldg 840,

    Wright-Patterson AFB, OH 45433, United States.

    Accepted for publication 1st October 2019…..Available online 10th October 2019

    Titled:

    Influenza vaccination and respiratory interference among Department of defense personnel during the 2017 – 2018 influenza season

    Amongst its findings…….the following deduction was made……..

    Military who had been….VACCINATED with INFLUENZA….were SUSCEPTIBLE to CORONA VIRUSES. :idea: :mad:

    CORONA VIRUSES ARE IN EVERY ANIMAL….so, IF you have ever had a FLU VACCINE….

    YOU WERE INJECTED WITH CORONA VIRUS :!:

    ** $$ ** :idea: :idea: ** :mad: :mad: ** :oops: :oops:

    ABOUT THE FILM………PANDEMIC :idea:

    HUMANITY I$ IMPRISONED by a killer pandemic.
    People are being arrested for surfing in the ocean and meditating in nature.
    Nations are collapsing.
    Hungry citizens are rioting for food.
    The media has generated so much confusion and fear that PEOPLE ARE BEGGING FOR SALVATION…IN A SYRINGE. :idea:
    BILLIONAIRE PATENT OWNERS are PUSHING for GLOBALLY MANDATED VACCINES.
    Anyone who refuses to be injected with experimental poisons will be prohibited from travel, education and work. No, this is not a synopsis for a new horror movie.
    This is OUR current REALITY.

    Let’s back up to address how we got here…

    In the early 1900s, America’s first Billionaire, John D. ROCKEFELLER bought a German pharmaceutical company that would later assist Hitler to implement his EUGENICS-based vision by manufacturing CHEMICAL$ and POI$ON$ for war. ROCKEFELLER WANTED TO ELIMINATE the COMPETITORS of Western medicine, so he SUBMITTED A REPORT TO CONGRESS DECLARING that there were too many doctors and medical schools in America, and THAT ALL NATURAL HEALING MODALITIES WERE UNSCIENTIFIC QUACKERY.
    Rockefeller called for the standardization of medical education, whereby only his organization be allowed to grant medical school licenses in the US. And $O BEGAN the PRACTICE OF IMMUNE $UPPRE$$IVE….SYNTHETIC and TOXIC DRUG$.
    Once PEOPLE HAD BECOME DEPENDENT ON THI$ NEW $Y$TEM AND THE ADDICTIVE DRUGS it provided, the system switched to a paid program, creating lifelong customers for the Rockefellers.
    Currently, MEDICAL ERROR IS the THIRD LEADING CAUSE OF DEATH in the US.
    ROCKEFELLER’£ SECRET WEAPON to success was the strategy known as, “PROBLEM-REACTION-SOLLUTION.” :idea:
    CREATE ….A….PROBLEM…….E$CALATE FEAR…….then OFFER….A…..PRE-PLANNED……$OLUTION :!:
    $OUND FAMI-LIAR :?:

    FLA$H FORWARD TO 2020… :idea: :idea:

    They named it COVID19.
    Our leaders of world health predicted millions would die.
    The National Guard was deployed.
    Makeshift hospitals were erected to care for a massive overflow of patients.
    Mass graves were dug.
    TERRIFYING NEW$ REPORT$. :lol: had people everywhere seeking shelter to avoid contact.
    THE PLAN WA$ UNFOLDING WITH DIABOLICAL PRECISION…..BUT….The MA$TER$ OF the PANDEMIC…..UNDERESTIMATED ONE THING….the PEOPLE. :idea:
    MEDICAL PROFESSIONALS and every-day CITIZENS ARE SHARING CRITICAL INFORMATION ONLINE. :idea:
    The overlords of BIG TECH HAVE ORDERED all DISSENTING VOICES TO BE SILENCED and BANNED….but they are too late.
    THE slumbering MASSES ARE awake and AWARE THAT SOMETHING IS NOT RIGHT.
    Quarantine has provided the missing element: time.
    Suddenly, our overworked citizenry has ample time to research and investigate for themselves. Once you see, you can’t unsee.

    The window of opportunity is open like never before. For the first time in human history, we have the world’s attention.
    PLANDEMIC WILL EXPOSE THE scientific and political ELITE WHO RUN the SCAM that is our global health system, while laying out a new plan; a plan that allows all of humanity to reconnect with healing forces of nature.
    2020 is the code for perfect vision.
    It is also the year that will go down in history as the moment we finally opened our eyes.

    PANDEMIC the full movie…….comming soon/sometime in 2020. :smile:

    ** $$ ** :idea: :idea: ** :mad: :mad: ** :oops: :oops: ** :idea: :idea: ** :evil: :evil: **

    APOLOGIES…..for the “Biblical” references….. :idea:

    THERE appear to be NO/FEW OTHER SOURCES available to HIGHLIGHT the NECESSITY of MAINTAINING…….

    ……..CLEAN BLOOD/TISSUE…….in relation to…ManKIND….SEPARATE FROM…..the BLOODS OF other enTITie$………………

    Animals…….and/or………STOLEN BIOLOGY/BLOOD…criminally CONFECTED obscenities……….

    MONKEY/HUEman HYBRIDS etc :!:

    ** $$ ** :idea: :idea: ** :mad: :mad: ** :oops: :oops: **

    :idea: Vaccination: The UnGodly Practice :idea:

    By
    Leonard G. Horowitz, D.M.D., M.A., M.P.H.
    Pastor Norm Franz and Errol Owen

    The following Bible excerpts serve as a supplement to the ninety-minute audiotape entitled,
    Horowitz ‘On Vaccines.’ This tape provides a lengthy discussion on a citizen’s RIGHT TO REFUSE VACCINATION
    for spiritual and religious reasons. Ways to AVOID VACCINATION AND…ASSERTIVELY RESPOND TO COERCIVE VACCINE PROPONENTS and SHOT ADMINISTRATORS are discussed.

    Moreover….the tape presents stunning ADMISSIONS BY VACCINE INDUSTRY EXPERTS, including 1998 Sabin Gold Medal
    of Honor awardee Dr. Maurice Hilleman, and others WHO ADMIT TO the CONTAMINATED and DEADLY NATURE OF MANY OF OUR MOST TRUSTED :lol: VACCINES. :idea:

    BIBLICAL support for those who wish to avoid vaccinations for spiritual and religious reasons
    include the following LAW….PROHIBITING GENETIC ENGINEERING…..OR….USE OF ITS PRODUCTS: :idea:

    Leviticus:19:19 Ye shall keep my statutes.
    THOU SHALT NOT LET THY CATTLE GENDER WITH a DIVERSE KIND: :idea:

    THOU SHALT NOT SOW THY FIELD WITH MINGLED SEED: neither shall a garment mingled of linen [plant] and
    woolen [animal] come upon thee.

    RELEVANT REASONS FOR God’s WARNING in this regard………
    includes the FACT THAT BOVINE (COW) FETAL :idea: SERUM………IS COMMONLY USED IN the manufacturing process of VACCINES.
    ….$O ARE MONKEY KIDNEY CELLS….CHICKEN EMBRYO :idea: PARTS…….BACTERIAL or VIRAL GENETIC MATERIALS
    - RNA and DNA….AS WELL AS YEAST….AND……HUman PROTEINS. :idea:

    Using the example of cows, BOVINE FETAL SERUM I$ MIXED WITH BACTERIA or VIRAL PARTICLES….AND…OTHER VACCINE INGREDIENTS….INCLUDING TOXIC METALS…..SUCH AS MERCURY and ALUMINIUM….AND……..
    :idea: :idea: IMMUNE DESTRUCTIVE CHEMICALS. :idea:

    THU$…..PROTEINS and GENETIC MATERIALS FROM the CATTLE…..VIRUSES….and….BACTERIA….ARE MIXED….BEFORE
    …….THESE PARTICLES ARE……INJECTED INTO YOU or….YOUR CHILDREN.

    ONCE the VACCINE INGREDIENTS……INCLUDING……FOREIGN….RNA and DNA……..
    AND…….GENETICALLY ENGINEERED BACTERIA……AND/OR VIRUSES…OR THEIR PARTS…ENTER YOUR BLOOD…….
    THEY MAY CAUSE GENETIC MUTATIONS OF YOUR CELLS. :evil:

    THEN…..YOU HAVE….SOWN THY BLOODSTREAM…’WITH MINGLED SEED’……THAT NOT ONLY TAXES YOUR IMMUNE
    SYSTEM FURTHER….BUT….MAY CAUSE….the DEVELOPMENT OF CANCER CELLS AS WELL. :idea:

    THESE MAY GO ON TO BECOME FULL BLOWN CANCERS……PARTICULARLY IN the PRESENCE OF a WEAKENED IMMUNE SYSTEM….MADE WEAK…..BY VACCINE ‘ADJUVENTS.’ :mad:

    Likewise….THIS……CROSS SPECIES….TRANSFER……OF INFECTIOUS PARTICLES…..OFTEN INITIATES…..
    AUTO IMMUNE DISEASES….as discussed earlier in this book. :idea:

    These are major reasons why vaccination is an ‘ungodly practice.’

    YOUR BLOOD CONTAINS VITAL WHITE BLOOD CELL BODY GUARDS (i.e., LYMPHOCYTES)………THAT PROVIDE FOR…..
    SURVEILLANCE and DESTRUCTIVE RESPONSES….AGAINST…..CANCER CELLS and MALIGNANT TUMOURS. :idea:

    THEREFORE…OVERLY TAXING THESE CELLS…..AS VACCINATIONS often DO….IS UNCLEAN and UNHEALTHY. :idea:

    Elsewhere in the Bible, God recommends that you MAINTAIN YOUR BLOOD….CLEAN and HEALTHY. :smile:

    A few of these verses are provided below……..

    Integrating this knowledge further….SOME VACCINES ARE MADE FROM…’POOLING’ HUman BLOOD…..TAKEN FROM
    people, including social DROP-OUTS….and……DRUG ADDICTS……WHO WERE EXPOSED TO VARIOUS INFECTIOUS……
    AGENTS……(e.g., bacteria, and viruses).
    Once vaccine makers have THESE PEOPLE’S blood, their laboratory technicians separate their SERUM from the whole
    cells and then this serum IS USED TO MAKE the FINAL VACCINES. :idea:

    ** :idea: ** $$

    This was the case with the HEPATITIS B VACCINE that was GIVEN TO GAY MEN IN NEW YORK CITY….AND….
    BLACKS IN CENTRAL AFRICA in 1974.
    THI$ VACCINE…….according to all the suppressed scientific evidence, as well as testimonies from insiders…….
    MOST LIKELY INITIATED the…. :idea: INTERNATIONAL :idea: AIDS PANDEMIC :!: :idea: :oops:

    ** :idea: ** $$

    In essence, the ROUTINE VACCINE PRACTICE OF SACRIFICING ANIMALS…TO GROW…….INFECTIOUS CANCER VIRUSES……
    IS OBVIOUSLY RISKY.

    This was the case for the cancer and AIDS linked POLIO and HEPATITIS B VACCINES. :idea:
    :evil: MERCK….VACCINE MAKERS…….. :evil:
    TOOK DEAD…OR….DYING ANIMAL’S TISSUES……INCLUDING THEIR BLOOD…….IN AN EFFORT TO………
    EXTRACT THESE INFECTIOUS AGENTS.
    THEN……THEY MIXED THESE ….ANIMAL INCUBATED CONTAMINANTS…..WITH HUman BLOOD.
    THIS BLOOD….ultimately…..GOT MIXED….TO MAKE the FINAL VACCINE.

    IN THIS MANNER….CROSS SPECIES…..TRANSMISSION…..OF INFECTIOUS AGENTS…….most easily and commonly OCCURR….AS IT DOES TODAY. :idea:

    According to the Bible, this is a sin.

    There are several BIBLE REFERENCES…..TO the IMPORTANCE OF MAINTAINING CLEAN BLOOD. :idea:

    A few of these are listed below.

    It should be recalled that, as I detailed in the book Emerging Viruses: AIDS &
    Ebola- Nature, Accident or Intentional :?: the ROCKEFELLER FAMILY :evil: ….LARGELY ESTABLISHED and CONTROLS
    ….The INTERNATIONAL BLOOD BANKING INDUSTRY. :evil: :idea:

    Laurance ROCKEFELLER….IN PARTICULAR….. assembled the New
    York City Blood Council- the council of doctors that established the New York City Blood Bank.

    This WAS the ORGANIZATION….THAT ALLOWED…..10,000 HEMOPHILIACS…..throughout the United States, and
    countless others….AROUND the WORLD…..TO RECEIVE…….the….AIDS VIRUS (HIV)………
    THROUGH……”THEIR” :!: ……..CONTAMINATED BLOOD SUPP-LIES. :mad: :idea:

    THEY KNEW ……IN ADVANCE……THAT the BLOOD WAS INFECTED……with these viruses and others. :idea: $$$ :mad:

    More recently, the Canadian and American publics learned that HEPATITIS C, CONTAMINATED BLOOD……..
    another cancer trigger…AND…..protein ‘PRIONS’- the ‘MAD-COW’ CREUTZFELDT- JAKOB DISEASE AGENT………
    ….ALSO……FLOWED FROM THE$E………BLOOD ‘BANK$TER’…..LAB$ to MILLIONS MORE. :evil: :idea: also

    It is well known that the ROCKEFELLER family……also….E$TABLI$HED A virtual MONOPOLY OVER ……THE…..
    AMERICAN MEDICAL and PHARMACEUTICAL INDU$TRIE$….AS EARLY AS the 1920s. :idea: :idea:

    This was THE SAME DECADE …THEY…..heavily……FUNDED and DIRECTED the ……fledgling CANCER INDUSTRY……..
    as well as the…….EUGENICS MOVEMENT. :idea:

    :arrow: CLICK on link for full article

    http://www.vacinfo.org/uploads/7/9/8/5/79856028/vaccination.pdf

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