The Labor Department reported on Thursday morning that nearly 2 million unemployment claims were filed in the week ending on May 30.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1312626
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1312626
NORAD is reporting a massive swarm of locusts approaching the East Coast.
USGS is reporting tremors at Mount St. Helenâs.
What next, Disaster Donnie?
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Tomorrowâs Jobs report from the BLS will be another total bloodbath. I guarantee it.
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Howâs that reopening going for you Donnie? Especially when the Senate with Trumpâs encouragement blocked further aid to the people and small businesses that actually need it. I wonder who they expect to do the necessary spending when so many are out of work and at increasing risk of losing housing.
Trumpâs recovery plan relies on his favorite resource: wishful thinking.
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Itâs worse than that. Thereâs nothing wrong with âwishingâ for good things. These idiots employ âmagical thinkingâ. They BELIEVE if they BELIEVE it will come true. They âcreateâ their own reality simply by thinking it so.
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I wonder who they expect to do the necessary spending when so many are out of work and at increasing risk of losing housing.
Rethug sc*mbags really believe that itâs the ultra rich that create and maintain this economy not average, everyday Americans. As far as theyâre concerned, working people are just dead weight that needs to be cleared for the 1% who make money off a stock market that has devolved to nothing more than smoke and mirrors.
I was angry before when the tax cuts package was passed that all but told the 1% that they own this country. Now, Iâm incensed beyond words.
ETA: The rise of a real American middle class in the mid 20thC really appears to have been an anomaly. Weâve almost always been a nation of peons existing off the sufferance of a robber baron class.
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Actually tRump economic plan relies on:
THE SECRET
The book promoted by Oprah.
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Never fear, US protests on steroids, Covid continues to kill huge numbers of people, millions without jobs, a president without a brain and the stock market continues to rise. What am I missing here?
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More important details. This is worse than forecast .
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Murder hornets, locusts and a really bad hurricane season?
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2 million more to add to the 40 already out of work. And some people wonder where all those protesters came from. Must be lack of biblingâŚ
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If I understand that Dow report properly, the 1.7 million additional unemployment claims for the week ending May 31 barely begins to capture the scale of the unemployment catastrophe we are facing.
The figures seem to be some 42 million unemployed, with economists anticipating non-farm workforce unemployment running at 19.5% or 20%. Horrendous. Weâve seen nothing like it in living memory.
Look for some massive distraction from the White House to obscure these numbers when BLS reports them â or for BLS to hold back on reporting them for âtechnical reviewâ or some such nonsense.
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They have had plenty of practice with their nonacceptance of evolution and global warming. There are many people who think that whatever they believe is real, whether there is any evidence to support it or not and they arenât limited to the right wing. They have no concept of making decisions based on evidence, so here we are, with a lot of the nation in denial about COVID-19 being a serious problem. One thing that does hit them is when they lose their jobs, beliefs donât have much impact at that level.
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Get ready for some serious looting⌠and not of the legal kind like the ones perpetrated by the Beltway bandits or the hedge fundsâŚ
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Yet the stock markets are showing no interest in reacting to the massive loss of jobs, yet. I realize that the stock market is not the economy but at some point it is going to reflect the state of the economy for the masses and I donât understand why it hasnât happened yet. They canât be expecting Trump to bring things around but if they are, they are idiots.
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No, the markets arenât counting on Trump. Theyâre counting on the Fed and the ECB. Zero to negative interest rates make stocks attractive even with dividend cuts.
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No recession prior to this one has glowed with that Trumpian magic.
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And I donât think of hospitality as recession-proof. It wasnât in 2008-09. Travel and eating out are among the first things cut back.
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