Posted on 04/11/2020 6:32:19 AM PDT by Enlightened1
These two numbers were obtained by applying different methodologies and classifications to two different datasets. This means that while there may be significant overlap, each measure will also be capturing some aspects that the other ignores.
For this reason, we simply took the average of those two numbers as a point estimate for the total number of workers who will be laid off during the second quarter. This resulted in 47.05 million people being laid off during this period.
Summing to the initial number of unemployed in February, this resulted in a total number of unemployed persons of 52.81 million. Given the assumption of a constant labor force, this resulted in an unemployment rate of 32.1%.
This is terrible if correct. So far we are about a 1/3 of the way there.
If true, you can expect a depression and an economic catalyst to extreme social unrest and maybe even the boogaloo. We have been missing A major factor like this to push it over the edge. It’ll happen very fast. As fast as the events of March 2020. The fourth turning.
And the stock market just had its best week in history.
Wall street doesn’t reflect main street.
President Trump needs to turn back on the economy.
Perhaps leave it locked down in high impact areas like New York.
The areas where the economy is open can still practice social distancing, wearing masks and perhaps no big venues? This until we know more.
To be frank as the real numbers come out and it is no where as deadly at Facui and Birx claimed. It will be like any other flu, virus, etc... That has always been around.
Shutting down the economy totally played into the Democrats, the NeverTrumpers, China and Globalists hands that needed an excuse of a weak economy in order to steal the 2020 election.
The DJIA is a six month outlook.
Keep in mind they are pumping money into the market via the plunge protection team.
Agree but the states, who hold the real power regarding these issues will block him. All he has the legal power to do is encourage them to ‘open it up’
Remember, these stats do not account for the actual Small Business Owners, Landlords.... People like me aren’t counted!!
Wall street doesn’t reflect main street."
Remember the Federal Reserve has pumped a couple trillion dollars of liquidity into the economy. That money is propping up the market. In the last 50 years debt has overtaken equity on the corporate balance sheet. Stock valuations have little relation to true assets.
Yep there’s a reason the Fed is blowing their bazooka.
The internals have to be horrifying.
Shameful.
ZERO of them government "workers."
ML/NJ
this Lockdown is a disaster of the worst proportions as millions and millions and millions of people are being thrown out of work
I’m no spring chicken and I’ve never seen anything as bad as this lockdown in USA
we can discuss if was ever really “necessary”... but now that it exists we SHOULD now (urgently) discuss ending it ASAP!
I agree with this. The question is: How does Trump avoid being another Hoover? In the midst of all this jobless carnage, can he be reelected?
Quote:
“In the midst of all this jobless carnage, can he be reelected?”
Re-elected as what? President of an impoverished totalitarian state? America goes back to work by May 1 or the country is done. Finished. Over. Dead.
Great news for the Globalists. George Soros is very happy.
THE STATES DO NOT HAVE THE AUTHORITY TO LOCKDOWN THE PUBLIC!!!
And I think it is high time for Millions of Deprivation of Rights Federal Lawsuits to be filed against thousands of elected officials nationwide.
Article 1, Section 9 states, “The privilege of the Writ of Habeas Corpus shall not be suspended, unless when in Cases of Rebellion or Invasion the public Safety may require it.”
Congress can declare martial law, because Congress alone is granted the power to suspend the writ. The President, however, is commander-in-chief of the military, and it has been argued that the President can take it upon himself to declare martial law. In these times, Congress may decide not to act, effectively accepting martial law by failing to stop it; Congress may agree to the declaration, putting the official stamp of approval on the declaration; or it can reject the President’s imposition of martial law, which could set up a power struggle between the Congress and the Executive that only the Judiciary would be able to resolve.
https://usconstitution.net/consttop_mlaw.html
Isn’t the head of the St. Louis Fed that idiot who wanted to test everybody for the coronavirus every week or some such stupidity?
Doubt it. We’re at 16m now and starting to reopen.
All the hysterics who cried “30 million unemployed” were wrong.
Wrong. Texas reopening already, AZ probably to follow, soon almost all states except NY, NJ, MD and CA will be open.
By July this will be a distant memory, the market will be back to about 26,000 or 27,000 and the most incredible boom in history will have started.
Mark. It. Down.
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