have been warning that the new lockdowns would make the numbers worse, and that is precisely what is happening.
And one expert that was interviewed by CNBC says that this is just the beginning…
“It looks like the unemployment losses are starting to stack up for the economy. It’s not going to be a good month,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “You’re starting the first week of the month on a bad note, and it’s probably going to be all downhill from here. It feels like the lockdowns are intensifying. It’s closer to reality for those forecasts that look for the economy to go negative in the first quarter.”
It is also important to remember that there are many Americans that have been unemployed for so long that they are no longer eligible to receive benefits.
One of those long-term unemployed workers is 35-year-old Sarah Groome…
For six months, she received unemployment benefits from the government – but those payments shrank as the programmes wound down this summer. Since October, she’s received nothing.
“I don’t know what I’m going to do financially,” she says. “I’m applying to jobs and I’ve probably applied to over 100 at this point and I’ve had one interview.”
“It’s scary,” she says. “I don’t know what’s going to happen.”
What do you say to someone in her position?
It’s heartbreaking to hear stories like that, and more people are being laid off with each passing day.
And as our new economic depression gets progressively deeper, an increasing number of Americans are becoming very desperate.
In fact, many have already become so desperate that they are turning to shoplifting…
Shoplifting is up markedly since the pandemic began in the spring and at higher levels than in past economic downturns, according to interviews with more than a dozen retailers, security experts and police departments across the country. But what’s distinctive about this trend, experts say, is what’s being taken – more staples like bread, pasta and baby formula.
“We’re seeing an increase in low-impact crimes,” said Jeff Zisner, chief executive of workplace security firm Aegis. “It’s not a whole lot of people going in, grabbing TVs and running out the front door. It’s a very different kind of crime – it’s people stealing consumables and items associated with children and babies.”
Everywhere we look, our society is starting to break down all around us. Americans have filed new claims for unemployment benefits more than 70 million times this year, the number of homeless in New York City has reached an all-time record high, and civil unrest continues to erupt all over America.
No matter what happens politically, conditions are going to continue to deteriorate as we head into 2021.
Of course the mainstream media is boldly proclaiming that the new vaccines will pull us out of this tailspin and that life in America will soon return to normal.
You can believe the mainstream media if you want, but in the end the “hope” that they are promising will turn out to be a complete mirage.