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Economy

This wasn’t supposed to happen.  Once states started to “reopen” their economies, the tsunami of unemployment was supposed to end.  But instead, we continue to see Americans lose jobs at a pace that is far beyond anything we have ever seen before in all of U.S. history.  All the way …

What we have been witnessing on the streets of Minneapolis is just the beginning.  Our nation is so deeply divided, and a large portion of the population is losing faith in the basic institutions that govern our society.  Personally, I don’t know how anyone can watch the video of what …

If you have been to a grocery store lately, then you already know that prices are higher than usual and that there are shortages of certain items.  Many Americans have been assuming that as COVID-19 restrictions are slowly rolled back that these shortages will eventually disappear, but now even the Washington Post …

Even though most U.S. states have begun the process of “reopening” their economies, the unprecedented tsunami of job losses that we have been experiencing just continues to roll on.  On Thursday, we learned that another 2.4 million Americans filed initial claims for unemployment benefits during the previous week, and that …

The last recession was really, really bad, but it was never like this.  It is time for us to face reality, and that means admitting that the U.S. economy has plunged into a depression.  This is already the worst economic downturn that America has experienced since the Great Depression of …

Most U.S. states are seeing tax revenues completely and utterly collapse during this COVID-19 pandemic, and some are already begging the federal government for bailout money.  Because if dramatic intervention does not happen, many states are going to have to start savagely slashing their expenditures, and that could mean unprecedented …

Do you personally know people that have lost jobs in 2020?  I do, and I am not sure what to tell them.  As is the case all over the U.S. right now, there is hope that some of the jobs will still be there when the lockdowns end, but in …

Anyone that was hoping for a “quick recovery” for the U.S. economy can forget about that right now.  Yes, many states are attempting to “reopen”, but in most cases, it will be a multi-stage process that takes many months to complete.  Meanwhile, fear of COVID-19 is going to keep many …

Yes, you read that headline correctly.  The economic downturn of 2008 and 2009 is often referred to as “the Great Recession” because the U.S. had not experienced economic pain of that magnitude since the Great Depression of the 1930s.  Millions of Americans lost their jobs, mortgage defaults soared and Wall …

In just six weeks, the entire global economy has completely come apart.  All over the world, we are seeing numbers fall faster than we ever have before, and the outlook for the rest of the year is exceedingly bleak.  Fear of the coronavirus is going to paralyze global trade for …