2020 Has Been A “Nightmare Year” For America, And The Economic Fallout Is Just Getting Started

Most of us have never experienced a year that has been as tough as 2020 has been for our nation.  It has just been one major crisis after another, and the month of September has brought us even more trouble.  The worst wildfire season in the history of the state of California has been making headlines day after day, and now the passing of Ruth Bader Ginsburg threatens to escalate the political turmoil in this nation to an entirely new level.  Many had such high hopes for 2020, but at…

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Pew: Majority of Young Americans Live with Parents for First Time Since Great Depression

Source: TOM CICCOTTA A recent poll by the Pew Research Center revealed that a majority of young Americans are living with their parents for the first time since the Great Depression. As of July, approximately 52 percent of young Americans between the ages of 18 and 29 lived with their parents. The number of young adults living with their parents has spiked by 2.6 million since the beginning of the coronavirus pandemic. According to a study by the Pew Research Center, a majority of young Americans live with their parents for the…

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Andy Puzder: Trump Inherited a Weak Economy and Made It a Roar

This report by Andy Puzder was reposted here with permission from Real Clear Markets Source:  Jim Hoft Once again, Democrats are trying to attribute President Trump’s economic success to President Obama—and their claims are no truer than they’ve ever been. Joe Biden’s running mate, Kamala Harris, claimed last month that Trump “inherited the longest economic expansion in history from Barack Obama and Joe Biden” and “ran it straight into the ground.”The media parrot these claims. NBC ran an article in support of Harris’s claim entitled “Data show Trump didn’t build a…

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Jobless Claims Fall to 881,000, Lowest Since Pandemic Hit

Source: John Carney Fewer than one million U.S. workers filed new claims for unemployment benefits in the final week of August, the Labor Department said in its weekly report Thursday. The government said 881,000 new claims for the week ending August 29, a new low for unemployment claims since the labor market was rocked by the coronavirus pandemic. Economists had forecast 958,000 new claims, down from the 1.006 million initially reported for the prior week. The prior week was revised up by 5,000 to 1,011,000. Claims hit a record 6.87 million…

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U.S. Weekly Jobless Claims Unexpectedly Fall to 1.19 Million, Lowest Level of Coronavirus Pandemic

Source: John Carney New claims for unemployment benefits declined by 249,000 to 1.186 million last week, data from the Department of Labor showed Thursday. This is the 20th consecutive week of initial claims above 1 million but it was much better than expected. Economists had forecast 1.442 new claims, a slight increase from the previous week. The prior week was revised up by 1,000 to 1.435 million. Claims hit a record 6.87 million for the week of March 27. Until two weeks ago, each subsequent week has seen claims decline. In…

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REPORT: White House Considering ‘Unilateral’ Action On Coronavirus Relief After Congressional Negotiations Stall

Source:  Emily Zanotti President Donald Trump is reportedly considering “unilateral” action on a coronavirus relief package after negotiations between House Democrats and Senate Republicans stalled over the weekend, largely over how much the next bill should give in supplemental unemployment benefits. The Democrats passed their own version of a fourth coronavirus relief package back in May: a $3 trillion bill that includes bailouts for states experiencing coronavirus-related budget shortfalls (though the bill does not specifically require states to demonstrate the budget shortfall did not precede the virus), a bailout for…

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Walmart To Launch Drive-In Movie Screenings In 160 Store Parking Lots

Source:   Eric Quintanar Beginning in August, Walmart will be turning select parking lots into outdoor drive-in movie theaters as part of a move to help families get out of the house while adhering to coronavirus precautions, the retail chain announced Thursday. In a press release, Walmart revealed that it plans to hold 320 family-friendly movie screenings at 160 locations across the country in partnership with the media group Tribeca Enterprises, the group that hosts the Tribeca Film Festival.  “Summer hasn’t really felt like summer yet, and I know I hear…

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HITTING AIR POCKETS: Masses Choking – DEATH BY DEBT!

Source: Tom Beck There are no BOOM AND BUST cycles anymore, at least not in the way you were taught that they NORMALLY BEHAVE. Traditionally, credit contracts, then profits shrink, the stock market falls, and personal income dries up last, as companies are forced to lay off people. The response is, therefore, pretty straightforward in those cases: the banks expand credit, profits grow, the market recovers, and income levels flow once more, as companies hire. This pandemic has changed all of that. Credit is ACTUALLY EXPANDING while income levels have…

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BULLSHIT DETECTOR: IMF Warns Global Recession WORST EVER!

Source: Tom Beck Retail investors are SIGNING their own DEATH WARRANT right now. On every GREEN DAY, they’re doubling down and on each BLOODY RED SCREEN, they’re buying the dip. I was 16 when the Dotcom niche was raging and I remember that EVERYONE was talking about it, but I didn’t get to FEEL IT. In 2017, I was seeing it FIRST-HAND with cryptocurrencies. Right now, it smells like we’re in the midst of the bubble TOWARDS THE END. Courtesy: Zerohedge.com As much as we are all aware that Facebook,…

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RUN THE GAMUT: Reversing Reopening – I’M SICK OF IT!

Source: James Davis Not all businesses are built alike. Some industries are CAPITAL-INTENSIVE and operate on thin margins, deterring new entrants since it’s NEARLY IMPOSSIBLE to compete with the efficient dominators in the field. Other businesses have thick margins but are seasonal, while a small few have both wide margins and consistent clientele since they’ve built a MOAT (a world-class brand). In capitalism, the chance at making profits pushes new entrepreneurs to innovate, differentiate, and figure out how to manufacture a product or deliver a service in a way that…

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HIGH-LEVEL SEDUCTION: Retail Investors Conditioned – TERRIBLE!

Source: Tom Beck The retail public is feeling PRETTY DARN good at the moment. Anything they bought in April and May is up big! What the retail public, especially 30-40-year-olds have been taught since 2009, is that DIPS are to be BOUGHT, because Mother Goose will make sure those prices FLY OFF THE CHARTS. The lesson they’ve been experiencing for 12 years is that the Federal Reserve will make everything better, so unlike the baby boomers, who are retired and HATE VOLATILITY, the younger generations are buying. What are they…

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WaPo Blasted For Fake “Grim” News As Huge Drop In Unemployment Rate Stuns

The Washington Post tried to spread fake news yesterday, posting that unemployment rose to 20 percent, but the real numbers show an incredible drop, with 2.5 million jobs added! Source: Georgette Yesterday, after they had the facts, the Washington Post claimed that unemployment rose to 20 percent… But, that was a HUGE lie. In fact, the unemployment rate dropped to 13.5 percent, a number that stunned the nation, and showed how awesome President Trump is for the economy, despite the manufactured attempts to destroy it. Of course, democrats immediately claimed that it had nothing to do with…

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A Deliberately Bankrupted America

Source: Mark Jarrett Why are the cities burning? African Americans have been a part of our history since our nation’s founding — they fought for independence. They are found on the Supreme Court, in military leadership, as prominent mayors, Members of Congress, academics, authors, cabinet secretaries, ambassadors, police chiefs, surgeons, business owners, entertainers, athletes, astronauts, and CEOs. A 75% white America even voted twice to choose an African American leader. If so much progress has been made, why are the nation’s cities — some led by African American mayors, with a diverse police force often led by non-white police chiefs — burning? Could this be the end…

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Unemployment Falls to 13.3% and Economy Adds 2.5 Million Jobs

Source: John Carney The unemployment rate fell to 13.3 percent and payrolls unexpectedly rose by 2.5 million workers as the easing of restrictions on business activity and government aid led to new hiring in May. The U.S. unemployment rate fell below last month’s record-high 14.7 percent, which was the highest on record in data going back to 1948. Economists estimate that the unemployment rate reached 25 percent during the Great Depression, although that predated the scientific economy-wide record keeping the government now deploys. The job gains mark a sudden turnaround…

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Here are the House Republicans Who Want to Flood the Country with Cheap Labor While Americans Struggle

Source:  Jose Nino John Binder of Breitbart News reported that 37 House Republicans have teamed up with nine Republican Senators in pushing the White House to bring in foreign workers to America while nearly 40 million Americans are unemployed Republican elected officials such as Kansas congressman Roger Marshall, New York congresswoman Elise Stefanik, and New York congressman Peter King asked businesses to continue to be allowed to bring in low-skilled foreigners through the H-2B visa program in a time when millions of Americans are unemployed. Marshall is currently running in the Senate primary…

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The Economic Fallout of the Lockdown and Riots will not Diminish Support for Trump

Source: Steve McCann Since November 9, 2016, the nation’s elites have been obsessively determined to either use the unchecked clout of the deep state to force Donald Trump to resign, or failing that, so besmirch him and his voter base as to ensure his defeat in 2020.  For the first three years of the Trump presidency both stratagems were employed in tandem.  However, with the abject failure of the Russian collusion hoax and the Ukrainian impeachment fiasco, these conspirators are now left with relying on the besmirchment option and doing…

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Top Obama Economist Warns Democrats: You’re About to See the Best Economic Data in American History

Source: True Pundit Jason Furman, a former chair of the Council of Economic Advisers under Barack Obama, is telling anyone who will listen that the American economy is set to explode. And Democrats don’t want to hear that. At all. Furman, now a professor at Harvard, actually made the prediction in early April when things were just starting to head downhill due to Democrat governors’ efforts to stymie the economy by shutting down every phase. “We are about to see the best economic data we’ve seen in the history of…

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Trump Administration Warming to Prospect of Second TrumpBux Payment

Trump had earlier considered a payroll tax. Source:  Richard Moorhead President Donald Trump suggested on Thursday that he supports a second round of direct ‘TrumpBux’ payments to individuals, a stimulus measure first utilized in March to mitigate the effects of the coronavirus recession. Most U.S. taxpayers have already received a $1,200 payment from the federal government as part of the CARES Act. When asked about the prospect of another round of payments, the President said “I think we’re going to be helping people out” and “getting some money for them.” The fourth…

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U.S. Unemployment Will Top 20% In June, White House Adviser Says

Source:   Joseph Curl Senior White House economic adviser Kevin Hassett on Sunday predicted the unemployment rate in the U.S. will soar above 20% in June, despite the fact that all 50 states have begun to move toward reopening their economies. “It’s going to be quite a bit higher,” Hassett said on CNN. “There were some technical things they kind of messed up, but it could be, if they fix the numbers, that you’ll end up with a number north of 20%.” But he offered a bit of good news, too. “My…

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Global Business Downturn Shows Signs of Easing As Lockdowns Lift

Source: ET Business activity in Europe and Japan, as measured by purchasing managers index (PMI) data, declined for the third straight month due to COVID-19 shutdowns, but did so at a slowing pace, reflecting a gradual economic pickup as lockdowns lift. “The eurozone saw a further collapse of business activity in May but the survey data at least brought reassuring signs that the downturn likely bottomed out in April,” said Chris Williamson, chief business economist at IHS Markit, which released its PMI survey of eurozone business activity on Wednesday (pdf). The outbreak of…

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MNUCHIN: EMPLOYEES WHO REFUSE TO GO BACK TO WORK WILL LOSE UNEMPLOYMENT BENEFITS

Extra $600 a week created an incentive for many to not go back to work since they were now getting paid more to stay home Source: Kit Daniels | Infowars.com Employees who refuse to go back to work for businesses receiving Payroll Protection Program funds will now lose their unemployment benefits, Treasury Secretary Steven Mnuchin revealed. The change in policy comes after many workers rejected pleas from business owners to come back to their jobs because they were making more money from federal unemployment. “If you offer a person a job……

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Is COVID-19 Accelerating the End of Neoliberalism?

Governments are now spending trillions in to manage the fallout from COVID-19 crisis. But how long can this last? Is western society moving into the era of bigger government and sweeping state intervention in markets and infrastructure? Can globalization really be unwound that easily, and is the last four decades of ‘pro-market’ neoliberal reforms coming to end? If so, what is coming next? The Agenda host Steve Paikin talks with Conservative economist Sean Speer, and Bhaskar Sunkara, author of “The Socialist Manifesto,” for a North American perspective on how the…

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COLD WATER FIREHOSE: MARKET REALITY CHECK – AMERICA SEDATED!

This article was contributed by Lior Gantz with The Wealth Research Group. The BULLSHIT is finally reaching the mainstream. For the past 2-3 weeks, YouTube has been TAKING DOWN a substantial amount of content from LEGITIMATE channels, who have ventured into CONSPIRATORIAL, sensitive-type debates with guests, which typically do not appear on mainstream platforms. The lines between mainstream and alternative are getting blurry. The point is that the public is waking up, and it’s INTERESTING TO WATCH from the sidelines since we’ve known for many years that propaganda is real and that billions are spent…

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SELLING FEROCIOUSLY: TAKING PROFITS – MARKET FUNERAL!

Source: James Davis Pump gasoline in the tank because this is GOING TO BE a long, winding road until we RESUME NORMALCY. We had the chance to LOAD UP at the lows when the rest of the world was selling, acting AS CONTRARIANS should, picking up stocks at 30%-50% BELOW their February highs before the FED launched the bazookas, but most of the rebound impact is now BEHIND US; time to lock gains on these short-term, FED-induced profits.   I expect MUCH MORE stimulus to come from Washington, which is going to need to SUCK-UP…

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FINAL STRAW: SUCKERS BUYING – VETERANS JUMPING SHIP!

This article was originally contributed by Lior Gantz of The Wealth Research Group.  The markets have GONE UP, almost in a straight line, since the March 23rd lows. Who’s been doing all the buying? Institutional money has been SELLING into strength, so we know FOR SURE it’s not them. Hedge funds have turned even MORE BEARISH, so it’s absolutely not them. Buybacks from the likes of Apple Inc. are back, so that’s part of it, but is that the only explanation? Retail investors, the younger demographics, are RUSHING BACK, thinking that every blue-chip company that is down…

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Economists: The Way Out of The Recession Depends on Level of Fear

Source: Mac Slavo Some economists say that in order to beat this recession, consumers have to be in a less fearful state.  Considering most turn on the TV or their phone first thing in the morning for their daily dose of mainstream media’s propagandized weapon of fear, it’s not looking good. According to CNBC, an outlet that’s propagated and weaponized fear for the elitists, the recovery, economists say, will depend on individual psychology, overall consumer confidence, and also whether the government was successful enough in filling the income gap for…

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SATANIC OVERLORDS: Dust Settling – TRUMP SHREDS CHINA!

Source: Lior Gantz The Markets Are Out of Adrenaline! UNTIL the fear of a TERRIBLE 2nd wave dissipates, we expect the market to trade in a range. We don’t anticipate a breakout, but we don’t really envision FALLOUT either. As it stands, the market consensus reflects the following: First Wave Behind Us: Panic selling is over and DONE WITH (for the most part). Those who wanted out have done so. Globally, central banks have STEPPED UP and provided all the liquidity needed to avoid doomsday. CONFIDENCE is back. Recession Is…

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30 Million Jobs Lost Due To Fear, Panic, & Government Tyranny

Source: Mac Slavo It’s become quite apparent that there was never an excuse to impose the draconian lockdowns. This was economic terrorism by the ruling class, and the damage has been done. Thirty million people have already lost their jobs as tyranny came crashing down upon them. According to the government’s number, and as reported by Breitbart, new claims for unemployment benefits fell to 3.84 million in the week ended April 25, data from the Department of Labor showed Thursday. That brings new unemployment claims, a proxy for layoffs, over…

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Jared Kushner: The Country Will Be ‘Really Rocking Again’ In June

Source:  Paul Bois Delivering a much-needed dose of hope and good news, son-in-law to President Trump and White House senior adviser Jared Kushner predicted on Wednesday that the country would be back on its feet in June. Speaking on “Fox & Friends,” Kushner said that as the month of May unfolds, states will slowly reopen in different phases, a process that will become more streamlined and uniform in the month of June. “I think what you’ll see in May as the states are reopening now is May will be a…

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About Half Of Households Have Lost Income To The Coronavirus

Source: Tim Pearce Half of American adults report that either they or someone in their household has lost a job or income due to the impact of the coronavirus. Marist College surveyed 1,008 adults across the United States by phone in a poll sponsored by NPR and PBS NewsHour. The results, released on Wednesday, show that the economic impact of the coronavirus has hit about half of U.S. households as some states begin the early stages of reopening their economies. “There are few households in the country that haven’t been…

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