GDP CRASH TO -35%?! Your Job Will NOT Come Back. Economy Permanently Down

It’s unbelievable to see these statistics. They just keep piling up. One estimate is looking worse than the other. We know that the unemployment numbers were undercounted by 8 million people. We know that the statistics ultimately don’t show the full magnitude of the issues, and yet the majority is complacent. What do you think of this?

You cannot recover from certain events. Look at 2008. A large portion of the US did not recover. Those who did recover feel like everything is totally fine, and that’s great. But look at how many people not only never saw the benefits of easy money policies, but quite simply are worse today. You know the system is broken when the middle class is disappearing. That’s a terrible sign for everyone, particularly when the economic engine is the consumer.

 

Nowcasting Report – FEDERAL RESERVE BANK of NEW YORK

www.newyorkfed.org/research/policy/nowcast

GDPNow – Federal Reserve Bank of Atlanta

www.frbatlanta.org/cqer/research/gdpnow

READ  We are heading down, folks! Real world economy is still in shambles. Market is more overvalued than it was during the DotCom boom. Still millions unemployed. The market is topping off and rejecting highs again and again....

Company Layoffs Mount as Recovery Appears Elusive – WSJ

www.wsj.com/articles/company-layoffs-snowball-as-recovery-appears-elusive-11589040771

Factories Close for Good as Coronavirus Cuts Demand – WSJ

www.wsj.com/articles/factories-close-for-good-as-coronavirus-cuts-demand-1158912280

Hidden defaults set to soar as recession squeezes companies | Banking – Gulf News

gulfnews.com/business/banking/hidden-defaults-set-to-soar-as-recession-squeezes-companies-1.1589086106740

Hidden defaults set to soar as recession squeezes companies | Banking – Gulf News

gulfnews.com/business/banking/hidden-defaults-set-to-soar-as-recession-squeezes-companies-1.1589086106740

Simon Property Group (SPG) reports Q1 2020 earnings

www.cnbc.com/2020/05/11/simon-property-group-spg-reports-q1-2020-earnings.html

Coronavirus: Wealth taxes may be rolled out globally, economist says

www.cnbc.com/2020/05/11/coronavirus-wealth-taxes-may-be-rolled-out-globally-economist-says.html

Federal Reserve Bank of San Francisco | Can Pandemic-Induced Job Uncertainty Stimulate Automation?

www.frbsf.org/economic-research/publications/working-papers/2020/19/

Vacation real-estate markets are ‘toast’ because of the pandemic as Airbnb owners rush to offload their homes, Redfin CEO says – MarketWatch

www.marketwatch.com/story/vacation-real-estate-markets-are-toast-because-of-the-pandemic-as-airbnb-owners-rush-to-offload-their-homes-redfin-ceo-says-2020-05-11

airbnb bookings_2.png (800×985)

www.zerohedge.com/s3/files/inline-images/airbnb%20bookings_2.png?itok=Dc4iJsL6

Assets: Total Assets: Total Assets (Less Eliminations From Consolidation): Wednesday Level (WALCL) | FRED | St. Louis Fed

fred.stlouisfed.org/series/WALCL

Central Bank Assets for Euro Area (11-19 Countries) (ECBASSETSW) | FRED | St. Louis Fed

fred.stlouisfed.org/series/ECBASSETSW

Bank of Japan: Total Assets for Japan (JPNASSETS) | FRED | St. Louis Fed

fred.stlouisfed.org/series/JPNASSETS