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22m Out Of Work In US As Country Nearing Great Depression 2.0

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Over 22 million U.S. citizens have lost their jobs in the last four weeks as the COVID-19 outbreak and lockdown measures have swept across the US, according to official figures.

5.2 million Americans filed for unemployment benefits in the period from April 4 to April 11 only. In the prior week. this number was 6.62 million. The median estimate of economists is 5.5 million, with projections ranging as high as 8 million.

22m Out Of Work In US As Country Nearing Great Depression 2.0

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According to the recent reports, the US unemployment rate is currently around at least 17% – far above the 10% reached in the wake of the recession that ended in 2009.

22m Out Of Work In US As Country Nearing Great Depression 2.0

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Last week, banks started to lend to small businesses to keep payrolls intact, part of a $2 trillion stimulus package. The Paycheck Protection Program was on the verge of depleting its $349 billion in funds this week and lawmakers were haggling over boosting the plan. However, many companies reported difficulty accessing the money.

The delivery of stimulus funds to Americans and businesses is intended to help determining the speed of any recovery in output and employment. Most economists expect that it could take several years or longer to return to employment levels seen before Covid-19 arrived in the U.S.

On April 16, thousands of protesters in cars and on foot flouted Michigan’s stay-at-home orders to demand the state reopened. The main target of protesters was democratic governor Gretchen Whitmer, with some chanting ‘lock her up’ on the steps of Lansing’s town hall.

As of April 16, the real economic situation and the growth of the unemployment rate in the US appeared to be much worse than it had been forecasted in early April. The threat to the debt market also seems to be underestimated.

The Trump administration contributed an extensive effort to support enterprises and citizens through federal and regional economic programs. However, they are apparently insufficient to stabilize the situation amid the almost nation-wide lockdown.

If significant COVID-19 restrictions on business activity remain in force by the end of April, the situation will likely worsen. The United States, alongside with the rest of the world, is nearing an economic and social crisis comparable to the Great Depression.

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Raptar Driver

Rev. 18
Fallen, fallen is Babylon the great.

Jens Holm

They are not handling things well. Trump is far out.

I think we have to compare with others and dont make that selective reflexion.

Its true USA is based on a thin net for people with no jobs.

Peter Jennings

The US has a woeful unemployment application system which keeps crashing and has prevented millions from registering. So unless things get back to normal pronto that figure will continue to rise dramatically.

The US should have consulted with Britain before creating the process because there, the gov’t has been making people unemployed for ages and have got the system running adequately, right down to the last gatekeeper and rottweiler.

John Wallace

As they say there is more than one way of killing the cat ..Each group will be blaming others If things get so bad then a war will be started too divert attention and generate profits for the selected few. There is money in making body bags especially if they are single use only. If the US goes down they will ensure they take others with them.. To think just a few weeks ago they were poking fun and deriding China, Iran and others for incompetence in handling this virus. Well and truly bitten them in the arse.

RichardD

127,000 out of 144,000 virus deaths are coming out of NATO Zionist countries who have been proven to be lying and massively inflating the death counts. This means that only 17,000 people have died in the rest of the world. You can’t have a global pandemic when 90% of the planet combined has so few deaths that they don’t even make the top 20 or 30 leading causes of death.comment image

RichardD

More people starve to death on this planet everyday than have died of the virus outside of the NATO Zionist scammer countries.comment image https://www.worldometers.info/

FlorianGeyer

Many more thousands more civilians have died of disease in the Yemen due to US/UK/French weapons and advisers assisting Sauti Arabia and Gulf States in the genocide of the Houthis.

RichardD

The NATO Korean genocide was much worse. Post WW2 NATO Jew world order hegemony wars have probably killed 100 million or more considering the collateral damage from economic strangulation. The current NATO virus economic meltdown is a lesson in karma.

PZIVJ

Early mass testing and tracking is the best answer, to late for that now in most countries.
South Korea did 539,000 test and found only 10,600 confirmed cases, or only .02% of the total population, this is on the low end. If any significant % had the virus, it would have been detected in many countries. Testing numbers versus confirmed cases.

RichardD

Something as infectious as the virus isn’t going to be stopped or even significantly slowed by testing and lockdowns in dense population zones. The Chinese tried that and failed. The virus quickly spread throughout the entire country and world. Herd immunity, treatment capacity scaling, and cures are the way to respond to something like this virus. Not lockdowns.

Virulent vs contagious is usually a sliding scale. The more virulent an infectious disease is the less contagious it usually is. And visa versa. A dangerous pathogen is both contagious and virulent. Covid 19 is highly contagious but not very virulent.

The over response is an exercise in fascism, not proper public health management.

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