Thursday, February 11, 2021

8 Million Fall Into Poverty, 9 Million Small Businesses In Danger Of Closing






The economic downturn that we are currently experiencing is making the last recession look like a Sunday picnic.  Yes, 2008 and 2009 were bad, but they weren’t anything like this.  Unprecedented intervention by the Federal Reserve has allowed the rich to get even richer during this crisis, but meanwhile millions upon millions of ordinary Americans are deeply suffering.  Unfortunately, what we have gone through so far is just the beginning.

Let’s start with the number 7.  According to the Congressional Budget Office, approximately 7 million more Americans would have jobs right now if the COVID pandemic had never happened

In fact, the Federal Reserve says that 152 million Americans were working before the pandemic started, and only 142 million Americans are working now.

So the CBO estimate appears to be off by about 3 million.


Let’s try another number.  According to Bloomberg, the number of Americans living in poverty has risen by 8 million during this crisis…

Support is rising among policy makers to address America’s child-poverty crisis, which is getting worse as the pandemic drags on.

More than 8 million Americans — including many children — fell into poverty during the second half of last year, exacerbating the racial and income inequalities that are holding back the U.S. economy.


One of the big reasons why it will continue to rise is because hordes of small businesses will be collapsing, and that brings us to our next number.

According to a study that was recently released by the Fed, 9 million small businesses in the U.S. say that they “won’t survive” in 2021 without more government assistance



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1 comment:

Anonymous said...

In politics, nothing happens by accident. If it does, you can bet it was planned that way (FDR). Upstarts and small businesses have created most new jobs since 1980. Cracks in this job creation appeared in 2008/09 now a full rupture. The bourgeoisie, public enemy #1 to elitists leftists the nomenklatura if you will needed neutering and then along came the Wuhan virus. Now the NWO led by AC poised to take power. It was planned that way by the great resetter himself the devil.