Right now, millions upon millions of people are living off their 600 bucks a week unemployment and their Covid stimulus checks/debit cards. Millions of people have also benefited from differing their student loan payments, deferring mortgage payments, and enjoying the benefits of not being evicted for failing to pay their rent. Very soon, all of those protections will come to a sudden end. By the beginning of August, you are going to see a lot of desperate people. On top of this, Democrat mayors, governors, senators, and congress persons are determined to keep spreading the economic misery far and wide.
On the other end of the spectrum, we have the markets. The markets are not bounded by economic reality. They are a monster child of the Fed.
Things may get very “interesting“ very rapidly.
“By the beginning of August...”
I remember being told this was going to happen in June.
I wonder how much of this stuff is based in real knowledge or some people on FR just really hoping for it just to prove some point.
I think that amount is closer to $900, as $600 a week was added by the Federal Government, alone.
That is over $22/hour to not work for three months!