The government destroyed these businesses.
This was a forced implosion of the economy.
Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll.
As of Aug. 31, some 163,735 businesses have indicated on Yelp that they have closed. That’s down from the 180,000 that closed at the very beginning of the pandemic. However, it actually shows a 23% increase in the number of closures since mid-July.
In addition to monitoring closed businesses, Yelp also takes into account the businesses whose closures have become permanent. That number has steadily increased throughout the past six months, now reaching 97,966, representing 60% of closed businesses that won’t be reopening.
“Overall, Yelp’s data shows that business closures have continued to rise with a 34% increase in permanent closures since our last report in mid-July,” Justin Norman, vice president of data science at Yelp, told CNBC.
Virtually no small businesses were able to qualify for “essential business” status (excluding liquor stores, maybe a couple other things), so virtually all small businesses were forced to shut during the first wave of lockdowns. That means that approximately 60% of all small businesses are now permanently closed.
The full effects of this are being put off by the printing of money.
However, there is no reality in which the government can print money at this rate and not have it lead to apocalyptic inflation, which is apparently the way this is going to go down.
As soon as the government decided on this lockdown, there were always just the two options:
- Totally collapse the economy now, or
- Print money and wait for inflation to collapse the economy
You have to wonder what the response would have been if the government had said:
There’s a flu that has a slightly lower fatality rate than the normal influenza flu. In response to this, we are going to take all of your constitutional rights away and completely, permanently destroy the economy, while transferring the entire wealth of the middle class to corporations, banks and billionaires.
Would people have agreed to that?
What haunts me more than anything else is this: at the time of the lockdown, I was the only person explaining that this was what was happening. No one else was saying it.
I feel like I should have done more to inform the people. I did my best. But this has been so difficult to watch.
We are now entering into a dystopian hell of a future where all wealth is controlled by a tiny elite minority, the masses of people own nothing, they are drugged and vaccinated and they have no rights. The borders will come down and the whole planet will be the same thing. Gradually, they will mix the races together until all that is left is a brown mass, ruled from Israel by an Antichrist Jewish regime.
At least, that is the plan for the future.
But we have our own plans, don’t we folks?
Article updated to clarify some math.