7.5 Million will be losing all unemployment benefits in early September
How many will find a job ? in the meantime, they will have zero income to spend. Fed taper, I don’t think so. Every stats I see points to a downturn in the economy. Banks do not want to lend; businesses do not want to borrow.
While the US wastes trillions of dollars in middle east boondoggles, continues to shovel money and power upwards to bezos and his ilk, fails to provide healthcare and a basic standard of living to it’s own populace so spectacularly that life expectancy has been declining in the most powerful country on earth, China is showing some balls and attempting to address the wealth inequality and housing crisis in its own country. All this while they continue to silently extend their influence globally (see Afghanistan and many other examples). 30% of both Generation Z and Millenials have a favorable view of Marxism. 60% of those generations support a complete change of the US economic system away from capitalism.
If people want unemployment insurance, someone in their state can sell it to them. Then if they want an extra $300 a week benefit and a year of extensions they can pay the premium for that.
Just get the federal government out of this and all the other monopolies it has unconstitutionally granted to itself.
The question was always to what extent people would stop working. The big story now is that we got the answer, and the answer is mind-blowing. The vast majority of people are very happy to be economic slaves.
The economic and financial system has been one that has provided UBI for the rich for a long time now. In a fair system, the most successful people like Jeff Bezos and Elon Musk would be worth hundreds of millions as a reward for their leadership in creating thriving businesses. The mistake that everyone is making is assuming that the three extra zeroes are just a meaningless abstraction. But these zeroes make the difference between democracy and autocracy.
The unemployment bonus was like a test by the elite to see how close the population is to rebelling against the present system. The rich can now safely become trillionaires and quadrillionaires and the population will not care.
I thought we’d be forced to end the program early, very early. Never did I think that the average person would rather get paid less money for working than for doing nothing, after watching the biggest scammers in the world get rewarded the most throughout their lives and watching their share of the wealth pie only shrink and shrink over time. They should have gone on strike all along (like in Atlas Shrugged), even if it meant getting paid nothing.