People are writing to me saying “hey Anglin – LOOKS LIKE YOU WERE WRONG ABOUT THE ECONOMY, EVERYTHING IS FINE :DDDDDD.”
Actually, I think he might be joking. It’s a little bit scary if he’s not.
I guess maybe not everyone knows this, but right now, the US government is paying people $600 a week in unemployment from the feds. This is money that they are printing outright. It is on top of the state unemployment benefits. In actual fact, many people have more money now than they had before the virus.
Obviously, when you’re paying everyone who’s unemployed at least as much as they were making at their job, nothing happens.
However, if they keep printing it like that, it’s going to lead to hyper-inflation. If they cut the money, no one has any money to spend, and the whole thing comes tumbling down. One of those things is going to happen.
The economy has already completely collapsed. What we have now is a “Weekend at Bernie’s” economy.
The only real difference is that our economy is somehow even more Jewish than that movie. Otherwise, it is literally the exact same story, with the corpse of the economy being dragged around by Jews who move it around to make people think it is alive.
As of right now, it appears that they’re still planning to go ahead and cut the $600 at the end of this month.
When millions of Americans began losing their jobs in March, the federal government stepped in with a life preserver: $600 a week in extra unemployment benefits to allow workers to pay rent and buy groceries, and to cushion the economy.
With economic conditions again deteriorating, that life preserver will disappear within days if Congress doesn’t act to extend it. That could prompt a wave of evictions and inflict more financial harm on millions of Americans while further damaging the economy.
Even the threat of a lapse in benefits could prove harmful, economists warn, by forcing households to make precautionary spending cuts.
The benefits program, Federal Pandemic Unemployment Compensation, expires at the end of July. But because of a quirk in the calendar, workers in most states won’t qualify for the payments after this week. Most will be left with regular unemployment benefits, which total only a few hundred dollars a week in many states.
That means that more than 20 million Americans could soon see their weekly income fall by half or more at a time when the unemployment rate remains higher than in any period since World War II.
Economists warn that it isn’t just individual recipients who will suffer if the benefits are cut. The federal payments are injecting billions of dollars into the economy each week, money that flows to landlords, grocery stores, retailers and countless other businesses. Ernie Tedeschi, a former Treasury Department official and an economist at Evercore ISI Research, has estimated that if the payments ceased, the U.S. gross domestic product would be 2 percent smaller at the end of 2020 and there would be 1.7 million fewer jobs nationwide.
It’s going to be a lot more than 1.7 million fewer jobs.
This is going to be the beginning of everything getting cleared out.
It will take some time, I obviously never made a prediction of a timeframe, but I think that the government is going to push for very big economic problems before the election. They’re literally pulling out every stop to ensure that Donald Trump loses, and I think they’re going to be all over that one.
Still, the run-up to the election won’t be the worst of it. These things take time, as people lose jobs because other people lost their jobs. They’re apparently cutting the $600, but there will be more programs and such to prop people up, until they just can’t do programs anymore.
The other thing is that a second lockdown will wipe out at least as many jobs as the first lockdown, possibly more.
I absolutely stand by my claim that the economy has totally collapsed, and that we’re going to reach a 50% unemployment rate, possibly by this time next year.
Of course, when Joe Biden is in office and the country is being run by a mob of Jews, women and colored people, we’re not going to have access to any real information. You’ll be lucky to be informed about riots that are happening down the street from you, let alone things like the nation’s economy or unemployment rate.