MASS Salary Cuts On Top of MASS Unemployment! Permanently Crush Economy

Many who were fortunate enough to retain their job have been unable to retain their salary. Stores are closing. Many small businesses will be simply unable to recover. Most industries suffered major setbacks which ultimately crushed their bottom line. The stock market has ignored this key information but it really doesn’t matter, the Fed is here to tuck you in at night, and sing you a lullaby. 

 

US Jobs News: Salaries Get Cut for Many Who Kept Their Jobs – Bloomberg

www.bloomberg.com/news/articles/2020-05-27/salaries-get-chopped-for-many-americans-who-manage-to-keep-jobs

Tuesday Morning is about to close 130 stores. Here’s a map of where they are

www.cnbc.com/2020/05/27/tuesday-morning-is-about-to-close-130-stores-heres-a-map-of-where-they-are.html

CBS News Hit Hard by Layoffs: “Everyone Is Shocked” | Hollywood Reporter

www.hollywoodreporter.com/news/cbs-news-hit-hard-by-layoffs-is-shocked-1296157

Boeing is laying off more than 6,000 employees this week as coronavirus hurts demand

www.cnbc.com/2020/05/27/boeing-to-begin-laying-off-thousands-of-employees-this-week.html

Amtrak says it needs additional bailout of nearly $1.5 billion to stay afloat – The Washington Post

www.washingtonpost.com/transportation/2020/05/26/amtrak-says-it-needs-another-15-billion-bailout-stay-afloat/

An ‘Avalanche of Evictions’ Could Be Bearing Down on America’s Renters – Tounesna News

tounesnanews.com/2020/05/27/an-avalanche-of-evictions-could-be-bearing-down-on-americas-renters/

Even In Well-To-Do Glen Ellyn, Food Pantries See Surge In Demand As Pandemic Hammers Economy – CBS Chicago

chicago.cbslocal.com/2020/05/27/even-in-well-to-do-glen-ellyn-food-pantries-see-surge-in-demand-as-pandemic-hammers-economy/

Fed Beige Book: Many workers don’t want to come back to their jobs

www.cnbc.com/2020/05/27/fed-beige-book-many-workers-dont-want-to-come-back-to-their-jobs.html

U.S. small firms leave $150 billion in coronavirus stimulus untapped – Reuters

www.reuters.com/article/us-health-coronavirus-usa-ppp/u-s-small-firms-leave-150-billion-in-coronavirus-stimulus-untapped-idUSKBN232199

(2) Sven Henrich on Twitter: “We’re witnessing the largest asset bubble inside of a recession ever. Total market cap to GDP exceeding 140% in pre-market right into a key historic bear market rally resistance pivot as unemployment is exceeding 20% w/ earnings growth -20% for the year at least. Dangerous.” / Twitter

twitter.com/NorthmanTrader/status/1265236313999114240

Why your Social Security could be cut next year – MarketWatch

www.marketwatch.com/story/why-your-social-security-could-be-cut-next-year-11590598671