Why the Current Unemployment Is Worse Than the Great Depression

Independent Institute ^ | 04/27/20 | Robert P. Murphy

[FreedomPoster]

So you’re saying you’re behind the curve?

[E. Pluribus Unum]

They’re all collecting government checks now.

[proud American in Canada]

I want to as well but my husband refuses to give me any money or my
credit card or debit card. This is why I am about to file for divorce, just a month shy from our 30th anniversary. I’m not sure about it. Any advice would be appreciated. Please freep mail me with any experiences or advice. Thank you.

I have to be honest: I drank for a long time after he ripped me away from the country and state, Colorado, that I loved.

[cableguymn]

And that’s assuming it doesn’t come back for a second (and third) wave to kick the legs out from under us again.

[proud American in Canada]

I think that observation is quite astute, Boss. :)

[Svartalfiar]

Unemployment numbers should, initially, drop like a rock as the States open up. You are ineligible for unemployment payments if your job is re-opened / offered back to you.
Even if the bonus $600 / week pays better than your job, you don't have the option to pick one or the other; once your job reopens, you can bet the States will start looking into eligibility, and they'll start with everyone getting that big bonus, and every person getting it who has their job available will be immediately cut off, have to repay it, and possibly jailed for unemployment fraud if the States really want to make a statement. Oh, and you're ineligible if you 'quit' your re-opened job just to keep the $600 bonus, as well.

[lightman]

Don’t get me started on the dipschitzs eatin this crap up.

And the FRINO Fearpers who are attempting a coup on this site.

[Luke21]

Don’t forget the dust bowl.

[lightman]

In the 1930’s we were mostly a manufacturing base economy which could be (and successfully was) jump-started by a World War.

This time around we are mostly a “service industry” (oxymoron) based economy dependent on discretionary income and a lack of “social distancing”.

[lightman]

Ping to # 27.

[Luke21]

FR has always had a lot of fifth columnists. When I got here in 1998, there were about five of them that made Bill Clinton look like Ronald Reagan.

During the miserable Bush years, the guy was worshipped. And people who posted against illegal immigration were ridiculed.

Through the years, real conservatives like Randy Graf, Christine O’Donnell, Kelli Ward, and Roy Moore were belittled and mocked as well as you would find at DU. I hated W Bush so much with his “Day in the Life” daily boot licking threads here, I spent a month at DU just so I could insult him. They caught me on other issues and I was soon gone.

And back to the fifth column...All those seats in question went to Democrats. One fifth column freeper came back afterwards and laughed in our face, with “How sweet it is,” victory talk.

So don’t get shocked when the cucks and liberals here start lecturing you, concern trolling, and pissing all over our own side.

[laplata]

You’re right. I’m nervous that they could hit us again.

[buckalfa]

"I hope this guy is wrong. Maybe President Trump can do things that no other president could do."

I hope he is wrong also, but the economy grows in multiples in good times and declines in multiples during the bad. We might not see the worst data until June. If anybody can turn it around it is Trump, but he may be out of bullets in terms of tax cuts, interest rates, and pump priming.

[Truthoverpower]

No comparison !

there was no Netflix then

[Revolutionary]

The jobs are still there. People are just waiting to go back to them.
In the depression the jobs weren’t there.

[dowcaet]

You hit it on the head. The Democrats are purposely trying to tank the economy and they’re enjoying restricting and putting roadblocks to every segment of American life. They’re involved with the Chinese in this whole sorry episode. There really is only one thing standing in the way of MAGA and it’s called the Democrat Party!

[dowcaet]

At the beginning of March we had the strongest economy in over fifty years and then this whole fake flu fiasco tanked it. I believe that far more Americans than we know are beginning to realize all of this was a politically motivated sham. The Democrats are beyond disgusting and they will DO ANYTHING to defeat Trump, including tanking the economy and ruining the lives of tens of millions of Americans.

[LateBoomer]

Let’s throw one more grenade in that doesn’t improve the outlook: when Uncle Sugar gives every unemployed person an extra $600 a week through the end of the year on top of the unemployment money they’re already receiving, too many people have zero incentive to go back to work. Many are being paid more not to work than they earned while working. It’s insane.

[preacher]

L8r

[Calif Conservative]

It’s economics and whatever residue remains of the free market in the United States, not President Trump, that hold the key.

The Invisible Hand of the great Adam Smith is what now holds the President’s political fate.

Trump already threw the dice w the lockdowns and the bailouts and the stimulus.

All Trump can do now is get out of the way and be a cheerleader. And hope for the best.

All we can do is hope for the best and then vote.