Coronavirus can wreck the world's economy - Dow drops more than 500 points

[Pastor Guest]

Federal Reserve chairman Powell is scheduled to testify before the Senate later today. Here is an excerpt from his prepared testimony:

Available economic data for the current quarter show a sharp drop in output and an equally sharp rise in unemployment. By these measures and many others, the scope and speed of this downturn are without modern precedent and are significantly worse than any recession since World War II. Since the pandemic arrived in force just two months ago, more than 20 million people have lost their jobs, reversing nearly 10 years of job gains. This precipitous drop in economic activity has caused a level of pain that is hard to capture in words, as lives are upended amid great uncertainty about the future. In addition to the economic disruptions, the virus has created tremendous strains in some essential financial markets and impaired the flow of credit in the economy.

https://www.federalreserve.gov/newse...l20200519a.htm



Actually, "the scope and speed of this downturn" is the worst in American history. Even in the Great Depression unemployment took two years to reach 15.9 percent. According to the Federal Reserve Bank of Chicago we have hit an unemployment rate of 30.7 percent in two months.

[Samuel Adams]

Now, who has the platform from which to reach every one of those “pained” Americans with the message, “this has been done TO YOU ON PURPOSE, by your “elected officials”, for extraordinarily nefarious purposes” ?

[jimmyb]

Now, who has the platform from which to reach every one of those “pained” Americans with the message, “this has been done TO YOU ON PURPOSE, by your “elected officials”, for extraordinarily nefarious purposes” ?

Trust me there are too many subservients in America today who want nothing but the government to take care of them.They don’t care about at what cost..If pot cigarettes and alcohol weren’t necessary to keep idiots in line do you think they would be essential.

[Pastor Guest]

The collapse of Boeing is due primarily to the hundreds of deaths caused by their aircraft, but it's woes have been compounded by the airlines having almost no passengers. If you don't have paying passengers, you don't need to buy new planes.

Pray for all who have lost their jobs.

Boeing to begin laying off thousands of employees this week - CNBC


https://www.cnbc.com/2020/05/27/boei...this-week.html

[Pastor Guest]

Jobless claims, total unemployment level worse than expected - CNBC

Initial claims since early March top 42 million.

https://www.cnbc.com/2020/06/04/week...ss-claims.html

[Pastor Guest]

Millions Of Americans Skip Payments As Tidal Wave Of Defaults And Evictions Looms - NPR


https://www.npr.org/2020/06/03/86785...and-evictions-

[pc-not]

I was watching some of Stefan Molyneux's latest videos on the riots. He has a very courageous take on it, backed by facts and logic. Someone asked him if America was a failed state. he replied that has been for a while and gives reasons why. Although he has been on YouTube for 15 years, he has been shadow banned. Freedomain.com









I
n

[Off-Grid Organics]

Dow Jones Index, DJIA

27,226.60
944.78
(3.59%)

[Pastor Guest]

Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown - CNBC

Neither the Great Depression nor the Great Recession nor any other slump over the past two centuries have ever caused such a sharp drain on the economy.

https://www.cnbc.com/2020/07/30/us-g...t-reading.html

[KingsX]

Deja Vu

Earlier this morning the DOW was again down hundreds of points.

Dow Jones falls after grim data; Trump suggests election delay

" US stocks fell sharply on Thursday after a second straight rise in weekly jobless claims fueled worries about a post-pandemic economic recovery, while President Donald Trump floated the possibility of delaying the Nov. 3 presidential elections."

more at link

https://economictimes.indiatimes.com...w/77264692.cms