But, Why Italy and Iran? By James Reed

     I have been wondering why Italy and Iran had been heavily hit by the coronavirus. An article by Helen Raleigh, herself an immigrant from China,  at The Federalist explains it. Call me research incompetent, but don’t call me late for dinner, but I could not find the URL for the article, I got it sent by an email.

“The reason these two countries are suffering the most outside China is mainly due to their close ties with Beijing, primarily through the “One Belt and One Road” (OBOR) initiative. OBOR is Beijing’s foreign policy play disguised as infrastructure investment.

Continue reading

Germany: Still Nationally Suicidal By Richard Miller

     Germany is putting up stiff competition to Sweden as the cuck of Europe, where it has closed its borders to fellow Europeans, but not refugees, because that would be “racist.” Somehow diversity must give refugees immunity to the coronavirus:
  https://www.naturalnews.com/2020-03-24-europeans-not-welcome-in-germany-coronavirus-migrants-allowed.html

“Germany has officially closed its borders to all visiting Europeans due to the Wuhan coronavirus (COVID-19), save for those providing essential services from France, Luxembourg, and Switzerland – oh, and migrants from Africa and the Middle East. That’s right: If you’re a white European person who’s not a citizen of Germany, you can no longer visit Germany. But if you’re some random migrant from a Third World country, then come on in: Germany is open to you! According to the German Ministry of the Interior, so-called “asylum seekers,” many of whom could be carrying deadly viruses, are fully exempt from Germany’s lockdown measures, which only apply to Europeans who are being told that they have to self-isolate and social-distance in order to “flatten the curve.” “At Germany’s E.U. external borders [airports and seaports], there has been no change in the [asylum] procedure,” a representative from Germany’s Ministry of the Interior told Junge Freiheit. In other words, Europeans who previously had a right to enter Germany have now been relegated to second-class status, while illegal “migrants” from the Third World are having the red carpet rolled out for them, even when they blatantly violate the law to try to get into Germany outside the legal process. “In practice, this means that if a migrant were to illegally enter the European Union’s Schengen Zone via Italy or Greece and make it to France or Switzerland, he can still demand asylum in Germany, and thus must be allowed to traverse these countries so that he can formally request it on German territory,” reports Voice of Europe.

Continue reading

Moving Beyond “Made in China” By James Reed

     Maybe, just, maybe, after the globalists have fully exploited the present biocrisis, there may be a tiny residue of nationalism still left, and at least some important drugs will be once again made in the West, and not China. I have heard nothing about this issue in passive Australia, but in the US, there is some movement at the front:
  https://www.project-syndicate.org/commentary/china-exploit-control-of-pharmaceutical-exports-by-brahma-chellaney-2020-03
  https://www.breitbart.com/politics/2020/03/25/watch-marsha-blackburn-end-the-control-the-madmen-in-beijing-have-over-americas-drug-industry/

“Sen. Marsha Blackburn (R-TN) called on the United States to rebuild its domestic pharmaceutical manufacturing capacity in order to end China’s monopoly on the drugs Americans rely on. “I encourage my colleagues to support the bipartisan Securing America’s Medicine Cabinet Act,” Blackburn said in a floor speech on Wednesday, as the Senate discussed the coronavirus relief bill. Blackburn opened her remarks by acknowledging the “gross malfeasance” of China’s communist regime in handling the coronavirus pandemic. “After we acknowledge Beijing’s gross malfeasance,” Blackburn said, “we’re going to adjust the way we think about China in the context of the economy, of our national defense, technology, human rights, and pharmaceutical manufacturing.”

Continue reading

Global communism is Here. Will it be Forever? By James Reed

     If this is not communism, central control gone mad, then I am an monkey’s uncle. What? I did not mean to offend monkeys!
  https://www.naturalnews.com/2020-03-25-gun-stores-closed-la-county-coronavirus-pandemic.html

“Los Angeles County Sheriff Alex Villanueva announced that gun stores would be declared as “nonessential” businesses and ordered all gun stores in the L.A. county to close down on Tuesday. “There are hundreds of businesses which, through no fault of their own, do not fall under the Governor’s definition of critical infrastructure,” Villanueva said in a press conference. “As a result, I have instructed my deputies to enforce closures of businesses which have disregarded the Governor’s order (gun stores, strip clubs, and other non-designated businesses).” Gun sales in the U.S. have skyrocketed amid the coronavirus crisis. Over the past few weeks, gun stores across the country have seen very long lines and a quick depletion of inventory as many residents turn to their Second Amendment rights for self-protection. However, Villanueva believes that keeping these gun stores open for business amid the pandemic is unnecessary. “We will be closing them, they are not an essential function,” Villanueva said. “I’m a supporter of the 2nd amendment, I’m a gun owner myself, but now you have the mixture of people that are not formerly gun owners and you have a lot more people at home and anytime you introduce a firearm in a home, from what I understand from CDC studies, it increases fourfold the chance that someone is gonna get shot.” The sheriff also plans to beef up patrols by adding 1,300 deputies to his ranks – doubling the current number of officers deployed on the streets – and claims that gun shops who ignore the order and remain open will be summoned to court. Further, Villanueva  announced the release of 1,700 non-violent inmates from county jails to mitigate the risk of the spread of infection throughout the jail system. He claimed that they will be keeping the violent suspects imprisoned no matter what and that those who believe that they won’t be going hard on felons on the streets are sorely mistaken.”

Continue reading

The Joy of Panic Gun Buying By John Steele

     Oh, to have plenty of money to splash around at the end of the world, and be in a country where one still had God-given liberties to do so. Take Hungary, where people are simply buying guns like there is no tomorrow, as maybe there will not be, or at best, it will be the dawning of a violent new world:
  https://summit.news/2020/03/24/coronavirus-causes-gun-buying-panic-in-hungary/

“Fearing the potential breakdown of law and order as a result of the coronavirus, Hungarians are panic buying guns, with one store reporting a five fold increase in sales. “We are selling five times as much as in a normal March,” Gabor Vass, a gun store owner in Budapest, told Al Jazeera. “We could sell 15 times more if we had any more rubber bullet weapons, but we ran out,” he added. The store suddenly faced a rush of buyers last week despite the fact that Hungary has largely escaped the fate of other European countries, recording 167 coronavirus cases and 7 deaths. Vass said the firearm purchases were being driven by fears of civil unrest if supplies of essential products run out. “If people brawl over toilet paper now, what will they do later? Once shops run out of stock, people will take what they need. Police can hardly deal with every petty theft,” he said. 300,000 of Hungary’s 10 million population hold gun licenses, but licenses aren’t necessary for some light arms. “People have gone nuts,” said Vass. “They gobble up anything they don’t need a licence for. Gas pistols, rubber bullet guns, and even things like crossbows, which can harm you seriously.” According to the  Czech arms manufacturers association, there has also been a “double-digit rise in sales” of guns in Hungary’s neighboring country.”

Continue reading

The Amazing, Fleeing Corporate CEOS, What did They Know? By Chris Knight

     So, the big boys deserted the sinking ship way before we were rioting over toilet paper:
  http://endoftheamericandream.com/archives/why-did-hundreds-of-ceos-resign-just-before-the-world-started-going-absolutely-crazy

“One financial publication is using the phrase “the great CEO exodus” to describe the phenomenon that we have been witnessing.  It all started last year when chief executives started resigning in numbers unlike anything that we have ever seen before.  The following was published by NBC News last November… Chief executives are leaving in record numbers this year, with more than 1,332 stepping aside in the period from January through the end of October, according to new data released on Wednesday. While it’s not unusual to see CEOs fleeing in the middle of a recession, it is noteworthy to see such a rash of executive exits amid robust corporate earnings and record stock market highs. Last month, 172 chief executives left their jobs, according to executive placement firm Challenger, Gray & Christmas. It’s the highest monthly number on record, and the year-to-date total outpaces even the wave of executive exits during the financial crisis. By the end of the year, an all-time record high 1,480 CEOs had left their posts. But to most people it seemed like the good times were still rolling at the end of 2019.  Corporate profits were rising and the stock market was setting record high after record high.”

Continue reading

Welcome to the Great Depression 2.0: It’s Here! By James Reed

     I am not alone; there are more intelligent voices than me saying what I said days ago, that the Great Depression 2.0 is here, at least by implication:
  https://www.nasdaq.com/articles/morgan-stanley-says-30-gdp-fall-in-q2-2020-03-23

     There are sober reports on this perfect storm of misery too:
  https://usawatchdog.com/greatest-depression-already-started-gerald-celente/

Continue reading

Makeshift Morgues By Charles Taylor

     I hope you Aussies are doing ok, are all prepped up from panic buying of supplies at the last moment. Here in the US (I reside in Florida), fear rules. Everybody, even liberals are buying guns, because they can see where this is going. It is hard to find anti-gun articles in the press at the moment. Me, I have always been fully armed up, with four black rifles, legal here of course, some Glock pistols, all legal, and shotguns. And, now I am diversifying, moving to get an array of medieval weapons, buying largely swords and fighting knives from Cold Steel over in Kalifornia, being all cashed up from selling of my business and retiring three month ago. Now I am into full scale apocalypse prepping, and having the time of my life buying up big. Poor Chris back in OZ with no real weapons beyond his wives rolling pin. My wife could not have kids, so there are just the two of us, and we have all we need to last us for years. Praise the Lord we are lucky. Others are dead, and some states are setting up makeshift morgues to house the dead:
  https://www.zerohedge.com/health/after-nyc-morgues-near-capacity-states-ask-emergency-fema-help

“New York City morgues are nearing capacity and will be full as soon as next week, according to a Department of Homeland Security official which was corroborated by a Politico source. Another person familiar with the situation said that the city's hospital morgues hit capacity sometime over the past week. That said, if New York City runs out of morgue space as the number of COVID-19 deaths increase, the Trump administration will step in and assist, according to a former senior admin official - who noted that the George W. Bush administration sent mortuary assistance after Hurricane Katrina and the September 11 attacks. Meanwhile, the Daily Mail reports that one Manhattan hospital has set up a makeshift morgue in preparation for the surge in coronavirus victims as the city's death toll approaches 200. That said, not everyone is concerned. For now, city officials do not seem especially alarmed. Aja Worthy-Davis, a spokesperson for the New York City Office of the Chief Medical Examiner (OCME), said concerns about morgue capacity may be unfounded. In Manhattan alone, she said, OCME’s morgue can store up to 900 bodies. The city has a morgue for each of the five boroughs, she said. “We have the ability to expand pretty dramatically,” she said. “If you look back at what we did during 9/11, we have the ability to create mobile stations that allow us to house bodies if we run out of space.” -Politico

Continue reading

Cultural Shock: Are We All Infected? If So, It is All Too late? By Brian Simpson

     In season 1 of the zombie show, The Walking Dead, TS-19, I think the episode was called, Rick and his band of merry survivors were at the CDC and were told that they were all infected, well, at least the leader Rick was told. It was enough to make him hit the booze, as I would. However, an Oxford study that around half of the UK population is infected has been interpreted as indicating that the corona bug is not so bad after all:
  https://www.ft.com/content/5ff6469a-6dd8-11ea-89df-41bea055720b
  https://www.youtube.com/watch?v=gMu825aFauo
  https://nymag.com/intelligencer/2020/03/oxford-study-coronavirus-may-have-infected-half-of-u-k.html

“Because testing regimens across the world have varied tremendously, the actual mortality and hospitalization rates of COVID-19 have been hard to pin down. But modeling by researchers at the University of Oxford could provide some welcome good news, even if the initial takeaway doesn’t seem so promising. According to hypothetical modeling from Oxford’s Evolutionary Ecology of Infectious Disease lab, half of the population of the United Kingdom may have already been infected with the coronavirus. If this modeling is confirmed in follow-up studies, that a minuscule number of those infected require hospital treatment, with a majority showing very minor symptoms, or none at all. In the mathematical experiment, the researchers looked at the population who are at risk of a severe infection. While a risk rate of 0.1 percent suggested a high number of infected people — suggesting lower hospitalization and mortality rates — a higher risk rate of 1 percent implied the possibility of a more threatening virus at the population level. In the following chart, ρ represents the risk rate, with the dramatic yellow line representing the possibility of a majority of the U.K. population infected.”

Continue reading

TODAY‼️ THE BILL WAS PASSED

TODAY‼️ THE BILL WAS PASSED AS THEY WERE DISTRACTING US BY SCAREMONGERING THE TRUTH ON MAIN MEDIA.... WE NEED TO RETRACT THIS BILL.... ANYONE KNOW HOW‼️‼️‼️‼️

The emergency Coronavirus Bill will be rushed through as law. Today sees the 2nd reading, if passed it will immediately proceed to 3rd and on. It contains the most draconian powers ever proposed in peace-time Britain. It will be rushed through Parliament and the powers will last two years. The powers will affect your freedom and take away your rights. Forced detention and isolation can be of anyone, including children, and for any amount of time. Authorities can FORCEABLY take biological samples from your body. There’s no clear access to legal rights from as-yet unidentified isolation facilities. Powers last up to 2.5 years. Lockdown powers could prevent protests against measures. State surveillance safeguards weakened. Protections from forced detainment and treatment under Mental Health Act lowered. Cremations can be enforced against personal and religious wishes. Changes to the court system. Registration of deaths. No inquests into suspicious deaths! No requirement for any medical certification for burials or cremations! It also indemnifies the health service should they fail for what ever reason to provide care. The most frightening part. Only one medical 'officer' is required to sign off COMPULSORY TREATMENT ORDER which means... in the real world you can be forced to accept medication. Or held down and injected with whatever is seen fit. THAT is the biggest and worst threat to your own freedoms. Schedule 8 Pt1. Local Authorities will now be exempted from compliance with their duties under The Care Act 2014. Schedule 11. The BBC wont be telling you that bit. So. If someone dies in police custody or any type of custody they can simply dispose of the body without any paperwork medical exam or certification or inquest. Forget what that box in the corner of your room is 'programming' you with. Get the facts. This is a terrible day for freedoms. “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”

Continue reading

From New Zealand to France: The Face of the Future: Warlords By John Steele

     New Zealand is close enough, and culturally similar enough for the problem of gangs to erupt here in Oz as well, as economic collapse will breed desperate and violent people.
  https://www.theguardian.com/world/2020/mar/23/gangs-of-new-zealand-explosion-of-violence-prompts-fears-police-have-lost-control

“Gangs have existed for decades in New Zealand; their members are a common sight on the country’s roads and truck stops, immediately identifiable in patched vests and riding oversized motorcycles. But years of low-key activity has been shattered by recent wars between rival gangs, and police in the worst-affected parts of the country – on the east coast of the North Island – are wondering just how, and if, they can ever be brought under control again.

Continue reading

Corpses on Ice By Peter Ewer

     Just be glad for small mercies, my dear old mother used to say, when we faced some misery. It can always get worse, so be humble and don’t tempt fate. Was she seeing Spain, in the future, that is, Spain today in the plague years?
  https://www.aljazeera.com/news/2020/03/spain-makeshift-ice-rink-morgue-takes-delivery-corpses-200324115155671.html

“The first hearse arrived on Tuesday at Madrid's ice rink, hastily transformed into a makeshift mortuary as Spanish authorities scrambled to deal with a rising death toll from the coronavirus. Spain is Europe's second-hardest hit country after Italy, with 2,696 deaths and nearly 40,000 confirmed cases after 6,600 cases and more than 500 deaths were reported overnight, the sharpest daily increase since the start of the crisis. Approximately 14 percent of infections are among health workers. Authorities said on Monday facilities could not cope and agreed to transform the Palacio de Hielo mall, home to an Olympic-sized ice rink, into a morgue. Footage from Reuters TV showed vehicles at the building cordoned off by police officers in masks. The military disinfected 179 nursing homes on Monday and plan to clean another 96 on Tuesday, officials said.”

Continue reading

The Question of Chloroquine By Mrs Vera West

     President Trump thinks that the drug chloroquine may be a game changer in the coronavirus pandemic. But the false news media said that Trump was responsible for a man who died from self-medication of the alleged drug, when in fact the man died because he ingested fish tank cleaner, a fair bit of difference, not that the mainstream liars care that much, as long as the mud sticks for a moment:
  https://www.thegatewaypundit.com/2020/03/fake-news-hacks-claim-man-died-after-ingesting-chloroquine-because-of-trump-leaves-out-the-fact-he-actually-drank-fish-tank-cleaner/

“Late last week President Donald Trump announced a new medical treatment that includes malaria drug chloroquine and Z-pac cocktail to battle the coronavirus. There are three international studies that show the combination is very effective in treating the coronavirus and also acts as a prophylactic. We reported on the success of Chloroquine earlier today and this week. The propagandists in the media however are desperate to make President Trump look like a murdering liar so they spread one of the biggest hoaxes yet in the Coronavirus news cycle. On Monday it was reported that a 68-year-old man died after ingesting chloroquine. Only he didn’t ingest chloroquine — he drank fish tank cleaner and poisoned himself to death. But the media ran with the lie anyway, because orange man bad.”

Continue reading

Coronavirus and Sober Mathematics By Brian Simpson

     There is a sober, or I would say, a grim mathematics, to the coronavirus pandemic. Take lockdowns for example. I was in town today and it was as sparse as on Good Friday, or shall we call our days, “Bad Fridays”? Businesses shut, few people working. This is less than a week …  what will things be like with a full six months or year of this? Lock downs of Western countries are hard enough, but what about locking down the vast population of India:
  https://www.zerohedge.com/health/heres-what-21-day-lockdown-indias-13bn-people-looks

“Or rather we should ask whether this is even possible, given that as of the first night following Prime Minister Narendra Modi announcing in a televised address the immediate lockdown which orders some one-fifth of the world's population to 'stay indoors' it looks like the authorities will have serious enforcement issues on their hands in the coming Even his word choice left little ambiguity: “To save India and every Indian, there will be a total ban on venturing out,” Modi said Tuesday.days. Technically the order begins Wednesday, but it still set off a panic as anxious throngs descended on shopping markets, causing police to in some cases intervene and attempt to disperse the swelling crowds. Modi said in his speech the 'alternative' to not shutting the country down would ultimately set back the economy back 21 years, while also acknowledging India will take a big hit anyway, while pledging to inject $2 billion into country's vulnerable health care system.”

Continue reading

Social Distancing and Racism? By Peter Ewer

     If you are worried about death and social doom in the current corona-crisis, then think again, because the real concern, as always, is racism, white racism. Yeah:
  https://www.newframe.com/far-right-uses-coronavirus-to-scapegoat-refugees/

“The global explosion of the coronavirus has dramatically brought about fresh challenges for refugees, asylum seekers and migrants. With countries adopting strict measures to contain this pandemic, including rigid border controls, the outbreak will not only have a huge impact on those driven out by crisis situations but is also likely to create another refugee tragedy, worse than what has been experienced before. The global response to the spread of the virus formally known as Covid-19 amid the ongoing refugee crisis has been shaped by the complexity of national political interests, hardened immigration policies and border sovereignty. Xenophobic rhetoric about how migrants and refugees are potential carriers of the deadly virus and pose a health threat has already become a central theme for right-wing populists in Europe, who advocate for cracking down on immigration. And many far-right nationalists are making unverified assertions that African migrants brought the virus to the continent.”

Continue reading

Uncle Len’s Great Coronapocalpyse Adventures By Uncle Len, Man of the Plague

     Well, there you go, all those people doing bootcamp, if they break the social distancing rules, well the police are going to swat you, and rightly so. But, why should there be bootcamps at all, forms of exercise  torture? If gyms can be shut down because some big guy can be shedding viruses like cats shed fur, all over the place, then shut them down too. And what is it, 10 people max at a funeral, and 5 for a wedding? Where did they pull these numbers from? Surely these are high risk places, since wedding involve people getting pretty close together, and funerals, well someone is dead anyway, which is hardly a good start. So, shut them down too!
  https://www.dailymail.co.uk/news/article-8149837/Bootcamp-trainers-face-5000-fines-clients-1000-ignore-social-distancing-rules.html?ito=push-notification&ci=11304&si=1326534

     Yes, this is truly a fantastic time for your resident shed-dwelling hobo writer, who has suffered from social coronavirus all of his life. Social distancing is what I have lived with as people avoid me like the …  plague! And soon everyone is going to be like Uncle Len because stage three social distancing is coming soon:
  https://www.dailymail.co.uk/news/article-8149263/What-level-three-restrictions-involve.html?ito=push-notification&ci=11306&si=1326534

Continue reading

Depressionary Economic Crash By James Reed

     The Great Depression 2.0 is a coming, and we all need to move to level three of preparation, that is for the economic crash:
  https://www.zerohedge.com/markets/peter-schiff-covid-19-exposing-truth-about-economy
  https://schiffgold.com/peters-podcast/peter-schiff-coronavirus-is-exposing-the-truth-about-the-economy/
  https://www.zerohedge.com/economics/chances-greater-depression-are-increasing-day-warns-drdoom
  https://www.project-syndicate.org/commentary/coronavirus-greater-great-depression-by-nouriel-roubini-2020-03

“The shock to the global economy from COVID-19 has been both faster and more severe than the 2008 global financial crisis (GFC) and even the Great Depression. In those two previous episodes, stock markets collapsed by 50% or more, credit markets froze up, massive bankruptcies followed, unemployment rates soared above 10%, and GDP contracted at an annualized rate of 10% or more. But all of this took around three years to play out. In the current crisis, similarly dire macroeconomic and financial outcomes have materialized in three weeks.

Continue reading

No Discrimination Says Madonna By Brian Simpson

     Ageing boomer pop singer, attention-seeker and globalist, anti-Trumper, Madonna has given another diatribe in support of her world view, saying that the coronavirus makes us all equal. What, there is epidemiological evidence that the virus kills more men than women, but I guess that is not what concerns her being a hyper-feminist:
  https://www.breitbart.com/entertainment/2020/03/22/madonna-says-coronavirus-made-us-all-equal-in-nude-psa/

“Just as the city of Los Angeles announced plans to move thousands of homeless people into recreation centers, sitting nude in a bathtub full of rose peddles in her million dollar mansion, Madonna said “what’s terrible” and “what’s wonderful” about the coronavirus is that “it’s made us all equal in many ways.” “That’s the thing about COVID-19. It doesn’t care how smart you are, where you live, how old you are, what amazing stories you can tell. It’s the great equalizer and what’s terrible about is it what’s great about it,” Madonna said. “What’s terrible about it is that it’s made us all equal in many ways and what’s wonderful about is, is that it’s made us all equal in many ways.” “Like I used to say at the end of human nature every night, if the ship goes down, we’re all going down together,” the Grammy-winner said, captioning her tweet “No-Discrimination- Covid-19.” It was only a few days ago that the world was witness to a stumbling and spinning Madonna putting on a Coronavirus concert from her bathroom, reimagining her hit “Vogue” to include lyrics about eating fried fish.”

Continue reading

Unprecedented Foreign Espionage Threat? By James Reed

     Now who could be posing an “unprecedented foreign espionage threat” to little old Asianised Australia?
  https://www.reuters.com/article/us-australia-security/australia-under-unprecedented-threat-from-foreign-interference-spy-chief-idUSKCN20I1CY

“Australia is under an “unprecedented” threat of foreign espionage and interference, one of the country’s most senior spy chiefs said in a rare speech, citing the case of a “sleeper agent” who spent years building business links. Australian Security Intelligence Organisation (ASIO) Director-General Mike Burgess said several nations were working hard to influence lawmakers, government officials, media figures, business leaders and academics. “The level of threat we face from foreign espionage and interference activities is currently unprecedented,” Burgess said at ASIO headquarters in Canberra on Monday evening as he unveiled the agency’s annual threat assessment. “It is higher now, than it was at the height of the Cold War.” Burgess did not identify the countries infiltrating Australia, a staunch ally of the United States, though analysts said it was a thinly veiled outing of China. “It’s very reasonable to assume that China was the country in question,” said Rory Medcalf, head of the National Security College, Australian National University. ASIO is Australia’s domestic intelligence agency. Reuters reported in September that Australia’s intelligence agencies concluded China was responsible for a cyber-attack on the Australian parliament and three largest political parties just months before a general election in May 2019. China, which is Australia’s largest trading partner, has denied responsibility for the attack. Australia decided not to reveal the identity of the attackers in order to protect its trading relationship with China, sources familiar with the decision told Reuters in September. “I don’t care what country it is we’re talking about, whether it’s China or Russia or Iran - if people pose a threat to our country, they will be dealt with according to the level of that threat,” Home Affairs Minister Peter Dutton told reporters in Canberra on Tuesday when asked about China.”

Continue reading

Unemployment to be Greater than Great Depression By Bruce Bennett

     What was the unemployment rate during the Great Depression? Before I looked it up, I thought, yeah, about 30 percent, or higher. Way off: the rate ranges from 14 % to 24.9 % at the height. But, the coming Great Depression 2.0 will be 30 % and rising:
  https://www.thebalance.com/unemployment-rate-by-year-3305506
  https://thehill.com/policy/finance/economy/488924-st-louis-fed-chair-says-us-unemployment-rate-could-hit-30-percent

“Federal Reserve Bank of St. Louis President James Bullard said that the U.S. unemployment rate could reach 30 percent in the second quarter because of the coronavirus pandemic, Bloomberg News reported Sunday. Bullard also said a 50 percent reduction in gross domestic product is possible in the second quarter given the shutdown of business throughout much of the country, which is only expected to increase. He suggested this would all result in a $2.5 trillion loss in income, and that a huge stimulus would be needed to make up for it. Bullard's outlook is more dire than other estimates, though Treasury Secretary Steve Mnuchin told GOP senators during a private meeting this week that it was possible unemployment could reach 20 percent. He later clarified that he was not making an estimate and that he though actions being taken by the government could help the situation. Lawmakers in the House and Senate are struggling to reach a deal on a huge economic stimulus package. Democrats have raised objection about the measure largely drafted by Republicans, arguing not enough of the benefits would reach workers and families most in need. Bullard said the Federal Reserve was considering a number of actions to help the economy. “Everything is on the table,” he said, referring to the Fed’s potential actions for additional lending programs. Bullard encouraged an aggressive government response, which could lead to the third quarter being a “transitional quarter” and the fourth quarter and first quarter of next year as potential “boom quarters.” He added that the government’s priority should be to help American workers and businesses across industries, so companies and industries don’t fall into the cracks. “It is totally stupid to lose a major industry because of a virus,” he said, according to the news outlet. “Why would you want to do that?” Bullard’s comments follow the worst stocks week since 2008, with massive drops in the Dow Jones Industrial Average.” 

Continue reading