The Economic Apocalypse is Here By Peter West

     Clearly, this is not going to end well:
  https://www.dailymail.co.uk/news/article-8474819/Nearly-half-U-S-population-without-job.html

“Nearly half of the U.S. adult population is without a job, as the number of Americans filing for unemployment remains high and reopening in several states is slowed because of high levels of new coronavirus cases. According to the Bureau of Labor Statistics, the employment-population ratio for May 2020 shows that just 52.8 percent of the adult population was employed last month. This means that 47.2 percent of adult Americans are jobless despite a surprising surge in jobs in May. The employment-population ratio highlights the number of employed people as a percentage of the U.S. adult population, creating a broader picture of the rate of employment across the country. While the unemployment rate only includes those actively looking for a job, this ratio accounts for those not in the labor force and those discouraged about their prospects of finding a job. The labor force only includes about 60 percent of the U.S. adult population. May's ratio figures showed a massive plunge from the 61.2 percent employed in January 2020. It had increased slightly from 51.3 percent in April. It is also far below the record post-war high of 64.7 percent in 2000 as experts warn that up to 30million jobs will have to be created to get it back to its peak.”

     A country does not bounce back from such levels of unemployment, and the same applies for Australia. At present governments are moving to take away the safety net of the extra money that has been given. The chaos that will be unleashed as people experience the end of their reality, will make the BLM burnings and rioting look like a Sunday school picnic.

 

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Thursday, 22 October 2020
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