Posted on 03/22/2020 9:06:55 PM PDT by Enlightened1
‘This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole... It is a huge shock and we are trying to cope with it and keep it under control.’
That’s Federal Reserve Bank of St. Louis President James Bullard explaining to Bloomberg News why he sees the U.S. unemployment rate hitting 30% in the coming months as the world continues to grapple with the coronavirus pandemic.
If his gloomy jobs projection proves to be true, unemployment would be worse than it was during the Great Depression and three times worse than the 2007-’09 recession, according to Reuters.
Bullard also said he expects an unprecedented 50% plunge in gross domestic product.
“Everything is on the table,” he said, referring to additional lending programs from the Federal Reserve. “There is more that we can do if necessary... There is probably much more in the months ahead depending on where Congress wants to go.”
With the appropriate measures, Bullard said he’s looking for activity to rebound quickly.
“I would see the third quarter as a transitional quarter,” with the following six months “quite robust” as Americans ramp up consumerism. “Those quarters might be boom quarters,” he said.
Meanwhile, all the uncertainly continues to weigh on markets, with futures on the Dow Jones Industrial Average YM00, -3.981% DJIA, -4.54% , S&P 500 ES00, -3.616% SPX, -4.33% and Nasdaq Composite NQ00, -3.099% COMP, -3.79% all falling hard Sunday night.
(Excerpt) Read more at marketwatch.com ...
Here is a quote at the top of the article (click the link) from the St Louis Fed.
‘This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole... It is a huge shock and we are trying to cope with it and keep it under control.’
A whole lot of people need to die. And I’m not talking about people succumbing to COVID-19.
The Democrats are loving this!
Impossible to believe Soros isn’t profiting hugely from this and laughing his ass off and our pain.
Agree 1000%
Or The Monkees could fly out Bullard's @$$.
“We had to destroy the village in order to save it.”
Possible Global Reset
Folks, in Europe every summer industry and white collar professionals SHUT DOWN for summer.
The US economy can handle being shut down for a week or two.
Good grief...
That is awesome!
Yes!
I just copied that and sent it to my contacts.
That guys’ life is nearly over but he has the will and the untold billions to pull this off. I’ve always felt he was the puppet master of the Clintons
They pretend though, hand wringing, clucking their tongues, and taking preventative measures, self quarantine... using wipes...
My wife knows these freaks.
They said to “resist” and it was a matter of life and death. Who wouldn’t think of them capable of orchestrating this?
Good grief, half the stock market will be lost for the death of a few thousand people...across the Globe?? Good grief... this needs to stop.
Imagine what they’ll do NEXT???
‘This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole... It is a huge shock and we are trying to cope with it and keep it under control.’
Yep, the CCP is at the top of the list, followed by Soros, and a number of politicians including some former Presidents who sold out America.
And here come all of the Chicken Littles!
JoMa
I agree! Anyone who participates in the coup needs to go.
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