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Thursday, March 28, 2024

Unemployment Might Reach 2 million, Stock Market Tanks & Dems take Aim at Trump’s Coronavirus Response.

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The startling economic data as the result of the corona virus panic was released Thursday.

Initial jobless claims surged 70,000 to 281,000, the highest level in 2.5 years

This is only the beginning of what most likely could be a rapid decent into an economic depression.

David Choi, an economist from Goldman Sachs told market-watch initial claims for the week ending March 21 may jump to a seasonally adjusted 2.25 million. His analysis is based on recent anecdotes from press reports as well as company announcements. Over 30 states have provided preliminary data.

He said that even the most conservative assumption would be claims reaching over 1 million, which would top the record high of 695,000 in 1982.

Market-watch also pointed out: the Dow has shed a staggering 6,235 points, or 24.54%, in March so far, which has dragged the stock index down to its lowest level since December of 2016. The percentage drop so far ranks as its second-worst in history after the 30.7% monthly skid in September of 1931, when the unemployment rate was at a lofty 15.9%.

Coronavirus is devastating the US and world economy.  President Trump who once touted his impressive economic numbers, now will have to count on his response to this world crisis as a key reason for the public to reelect him  in November.

The left wing of the Democrat party meanwhile are wasting no time &  are busy using Coronavirus as a political talking point.

Protect Our Care — a nonprofit tied to liberal dark money groups — announced the war room on Thursday, with the group’s leader accusing Trump of exacerbating the pandemic. Heading the war room is Zac Petkanas, a former adviser to Hillary Clinton and former Senate Majority Leader Harry Reid. Sarah Chase, a former research associate for the presidential campaign of Sen. Elizabeth Warren, D-Mass., is joining the team as well, Fox News pointed out.

The main point of this group is to attack Trump’s response to the pandemic .  Their goal is to ” inform the American people about the science and facts about the coronavirus and to educate the public on the Trump’s administration’s ongoing failure to provide honest information and listen to the experts and the science”, according to  Leslie Dach, Chair of Protect Our Care.

Trump has seen his approval numbers uptick during this bizarre and frightening week. He has even seen praise from Democrats like Andrew Cuomo and the radical Ilan Omar !

These are some of the most interesting times, we are living thru. It must  be very difficult to be President Trump right now.  Only the upcoming months will tell  the conclusion to this bizarre but true story.  Trump’s presidency has taken the most fascinating turn, something which nobody could have possibly imagined.

 

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