THE ECONOMIC DEPRESSION OF 2020 IS BECOMING AN ENDLESS NIGHTMARE FOR MILLIONS OF AMERICANS | WHAT REALLY HAPPENED

THE ECONOMIC DEPRESSION OF 2020 IS BECOMING AN ENDLESS NIGHTMARE FOR MILLIONS OF AMERICANS

SOURCE: MICHAEL SNYDER

You may have noticed that a lot of people get offended by what I write. It is not something that I am purposely setting out to do, and I actually endeavor to get along with everyone as much as I can. But it is undeniable that my articles about our ongoing economic collapse directly contradict a lot of the narratives that are constantly being pushed by the mainstream media and many of our political, business and religious leaders. There are so many people out there that want to believe that the future is going to be exceedingly bright, and even though 2020 has been a horrific economic catastrophe so far, there are a lot of optimists that believe that it is just a temporary blip on the road to tremendous prosperity.

It would actually be wonderful if they were right.

But they aren’t.

At this point, everyone should be able to clearly see that we have entered a new economic depression. And I wish that I could tell you that a “recovery” was right around the corner, but I can’t.

On Thursday, we got yet another sign that this downturn is here for the long haul. According to the Labor Department, approximately 1.2 million Americans filed new claims for unemployment benefits last week…

Four months after the COVID-19 pandemic largely shut down the economy and left millions of Americans out of work, employers continue to lay off workers at a historic pace.

About 1.2 million people last week filed initial applications for unemployment insurance – a rough measure of layoffs – the Labor Department said Thursday, down substantially from 1.4 million the previous week and the lowest level since March.

Webmaster's Commentary: 

I was one of those who got laid off last week; fortunately, I had a former client who remembered what I had done for their company very positively, and I was only out of work for about 12 hours, then rehired by my former client, and will start with his company next week.

But I have to tell you; getting the news, not with a telephone call, but through an email, was a shock to the system. I have always considered myself as someone who made a lot of people a great deal of money over the years, and that had been a strong component of my personal identity.

But to all of you with small businesses in this country, please; this is not the time to lay off your marketing staff. It is the time for encouragement, knowing who has the work, and bidding for those jobs, even if in more normal economic times, you might, most probably, turn your nose up at them.

Unfortunately, economically, these are not normal times. And historically, how the US got out of its financial slumps was through getting into a world war.

I am hoping and praying I am utterly wrong on this, but I am seeing the signs of a new world war coming, and quickly. I cannot tell you where or when it will happen, nor can I tell you who will win the Presidential election in November.

But there is one thing upon which I would be almost willing to bet real money; after whoever wins November's election, and takes their Oath of Office in January, we will see a very heated discussion in DC about returning to the draft in this country.

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