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Economy

Fear of COVID-19 has unleashed economic chaos on a scale that has already surpassed anything that we witnessed during the last recession, and as you will see below, we are now being warned that “the worst is yet to come”.  Many Americans are hoping that things can start to return …

As millions upon millions of Americans lose their jobs in the greatest wave of unemployment in U.S. history, the Federal Reserve has decided that now is the time to spend trillions of newly created dollars in a desperate attempt to protect financial asset values.  In other words, as much of …

Will our economy ever be the same again?  At this moment, we are still in the midst of the most comprehensive nationwide shutdown in American history, and nobody knows when it will finally end.  The primary reason why governors all over the country issued “shelter-in-place” orders was because they wanted …

The cascading failures that have been set into motion by this “coronavirus shutdown” are going to make the financial crisis of 2008 look like a Sunday picnic.  As you will see below, it is being estimated that unemployment in the U.S. is already higher than it was at any point …

Approximately ten million Americans have filed new claims for unemployment benefits over the past two weeks.  To put that in perspective, the all-time record for a single week before this coronavirus pandemic hit was just 695,000.  So needless to say, 6.6 million claims in a single week puts us in uncharted …

In all of U.S. history, we have never seen a spike in unemployment like we are witnessing right now.  Last Thursday it was announced that more than 3.2 million Americans had filed new claims for unemployment benefits during the previous week, and many believe that the number that will be …

If the U.S. economy remains in shutdown mode for the next several months, we are going to witness layoffs like we have never seen before in U.S. history.  Of course, what we have already witnessed is difficult to believe.  Last week more than 3.2 million Americans filed initial claims for …

It appears that we are heading into the worst economic downturn of the post-World War II era, and that is going to be true no matter how this coronavirus pandemic ultimately plays out.  There are some that believe that this virus will only kill thousands, and there are others that …

The pace at which Americans are losing their jobs is absolutely breathtaking.  According to the Wall Street Journal, the largest number of new claims for unemployment benefits ever recorded in a single week prior to this year was 695,000 during the week that ended October 2nd, 1982.  So that means that …

Everyone that tried to tell us that this pandemic would fade away quickly has been proven dead wrong.  Right now, approximately 187 million Americans are under “shelter-in-place” orders as COVID-19 sweeps across the nation like wildfire.  There are now more than 43,000 confirmed cases in the U.S., but by the time many …