Fed Economists Warn US Unemployment Rate Could Soon Reach 32%—During Great Depression It Peaked at 25%
“These are very large numbers by historical standards, but this is a rather unique shock that is unlike any other experienced by the U.S. economy in the last 100 years.”
By Jake Johnson
Economists at the Federal Reserve Bank of St. Louis are warning that if the current rate of U.S. job losses continues, the country’s unemployment rate could reach a staggering 32.1% by the end of June as the coronavirus pandemic-induced downturn sparks mass layoffs across the nation.
Miguel Faria-e-Castro, an economist with the St. Louis Fed, wrote in an analysis last week that 47 million more workers could lose their jobs by the end of the second quarter of 2020, bringing the total number of unemployed people in the U.S. to 52.8 million. As CNBC noted, that number would be “more than three times worse than the peak of the Great Recession.”
Faria-e-Castro’s projection of 32.1% unemployment would put the U.S. jobless rate significantly higher than the Depression-era peak of 24.9%.
“The projections are even worse than St. Louis Fed President James Bullard’s much-publicized estimate of 30% [unemployment],” CNBC reported. “They reflect the high nature of at-risk jobs that ultimately could be lost.”
Faria-e-Castro stressed that “the expected duration of unemployment” could matter more “than the unemployment rate itself, especially if the recovery is quick (and so duration is short).”
“These are very large numbers by historical standards,” Faria-e-Castro wrote, “but this is a rather unique shock that is unlike any other experienced by the U.S. economy in the last 100 years.”
A lethal pandemic is generating unprecedented levels of layoffs in a country that insists on tying health care access to employment. Millions will lose coverage at the very moment they need it most. https://t.co/japHL6MtKm
— Public Citizen (@Public_Citizen) March 31, 2020
In response to the St. Louis Fed analysis, HuffPost senior reporter Zach Carter tweeted, “It remains simply incredible that Congress is not even in town during a crisis of this magnitude.”
“An astonishing, bipartisan failure of government,” Carter added.
It remains simply incredible that Congress is not even in town during a crisis of this magnitude. An astonishing, bipartisan failure of government. https://t.co/PbIEdXgejX
— Zach Carter (@zachdcarter) March 30, 2020
As Common Dreams reported last Friday, 3.3 million people filed jobless claims two weeks ago, shattering the previous record of 695,000 set in 1982.
“I have been a labor economist for a very long time and I have never seen anything like this,” Heidi Shierholz of the Economic Policy Institute wrote in a blog post last week. “Furthermore, this is just the tip of the iceberg.”
More than 40 economists surveyed by Bloomberg on Monday said they believe new Labor Department unemployment numbers set for release Thursday will be even higher.
Thomas Costerg, an economist at the investment firm Pictet Wealth Management, predicted that new jobless claims could be as high as 6.5 million while Goldman Sachs estimated 5.25 million.
New York magazine’s Eric Levitz wrote Monday that while the “St. Louis Fed’s projection is just a rough estimate… there’s reason to think its catastrophic prediction is in the right ballpark.”
“It’s hard not to suspect that most every part of our economic life is going to get worse before it gets better,” Levitz added.licensed under a Creative Commons Attribution-Share Alike 3.0 License.
The Pandemic Caused by Privilege and Capitalism. Part 3 — GENERAL STRIKE
I AM CALLING FOR A GENERAL STRIKE(Definition here) and I will now explain why.For once in your life, you can save the world by staying on your couch Netflix/gaming/ etc. Try to not fuck it all up. We need A living wage and Medicare for all In these times for all workers Most of all we need to save lives so #occupyacouch .#solidarity only together can we handle what is ahead.
The individual’s rights are only as strong as the collective will, Just as the collectives rights is only as strong as the individuals will.#OccupyACouch As of now, there are a total of 438,749 “confirmed” cases World Wide. In the USA according to the White House Task Force, there are OVER 55,243 COVID-19 CASES WITHIN U.S.virus cases, with 802 “confirmed” dead in the United States as of today. As I said before there are 7.7 Billion People in the world. if everyone got the virus, at a 1% death rate we are looking at 77,000,000. The World Health Organization just said we are the Epicenters of the Corvid19 (cnn video)
I was raised to always “have an open mind” and “do not judge a book by its cover,” I am not religious but I am spiritual, I believe in a creator and creator of creators. But in the end, I rather believe in me and you, I believe in peace and kindness. I struggle with my faith But I will never struggle in my belief of love/kindness and what it can do for others. For we would not be here if it was not for the kind acts of another. The Children of Tomorrow Will Always Remember your actions of today no matter the present. You are what you perceived as to be perceived in lifes masquerade ball. Right now the “The Emperor’s New Clothes” should be a best seller. the leaders make minor changes to protect themselves and their own aka the Privileged and Capitalistic crums for the rest.
GENERAL STRIKE I say, for all Non-essential workers till the science, prevails a vaccine (4–18 months), For the Safety all, if there was ever a time TO do a General Strike for the betterment of all now would be the time. ONLY “essential” jobs should be permitted(Hospitals, Childcare, dentists, Shipping and receiving, Construction, grocery stores, tobacco, hardware, pharmacies, gas stations, Waste Management, Vehicle repair, Pet Stores, Police Dept, Fire Dept, House of Correction Maybe continue to take out at Restaurants, If liqueur stores and then also state marijuana dispensary open, both recreational and medical, and any other jobs working-class essential jobs may have missed) remain open for the greater good. Schools should remain closed for the rest of the year. More Local Health codes Inspections and Osha Inspections paired with medical personal should make random drop-by visits and tests, monthly randomly. All Essential travel for the public to those locations should be permitted, along with to their family, and friends only who understand social distancing. Public transportation should be restricted to certain hours. The elderly and those with immune deficiencies should be isolated for health-related reasons, except out of emergencies/hospice but have contact with the outside world through technology communication provided by the state or federal government so that way doesn’t die alone. If there was ever a time to stop working, and by doing so save the world from the couch and comfort of your home, now is the time, seize it, don’t fuck it up. In turn, save a life, and stop the spread of this Corvid-19 by all of doing so it could end up saving yours and those that you love. It is negligent for any governing body or company to encourage their workforce to continue, it is class base genocide. Not just through pending Economic means because of the recession we are in, but Health means from the lack of ventilators and who will be able to afford a 50k ventilator when they run out of them? Let the entitled, privileged elite Eat the metaphorical cake of debt for the failure of leadership this time let them bend the knee to the people again..
During this time All Sanitation Service Nationwide should come with hazard pay, benefits, and a living wage guaranteed by the federal government, whether private or public you’re risking your life. my gf cleans warehouses, houses to get buy and her 6 yr old daughter has a compromised immune system (higher death rate) because of her diabetes type 1. Every day she and others like her, risk their lives cleaning so others don’t get sick. We owe them a debt. We owe all those Essential workers making that sacrifice a debt. Hazard pay, a rise (A living wage), Benefits (medicare for all), and (maybe tuition-free college) more social programs will be the only way we pay them and the children of tomorrow back?
“The rich man is always sold to the institution which makes him rich.”
― Henry David Thoreau,
If your job is considered “#essential” during this pandemic and you must work, firstly thank you for what you’re doing, also I believe then your position deserves a living wage/raise and health benefits along with hazard pay. If corporate says no, then unionize, or strike. Strike for your mother, Strike for your father, Strike for your Grandparents and Children. Strike to save lives of those you know and those you don’t, for your neighbor, and the safety of this country GENERAL STRIKE and #occupythecouch. Its time to reflect and revaluate what is important to consider what we value, and what is value, and our own value. Each Perspective petal of infinite colors, to the flower that endlessly wilts and blooms.
The working poor and the middle class are in this mess together; it doesn’t matter what political affiliation And we’ll pick it up together. For the wealthy, entitled, and privileged coffers. Can you get a test? can you get the medication to fight this? do you have enough money to cover the cost cuz sure as shit the wealthy, the entitled, the privileged, the (insert party) politicians, corporations can, and they can’t wait to pick at you like a vulture after a kill with taxes and inflation? Do what you can now to help your State, County, Town, and community and help those in need. I say stand together, they want to divide narratives/ideologies for greater control of the people till they are isolated in their anxious echo chamber of thoughts, forget the binary perspectives for now. We face a defining moment and only together can we conquer such and those in power obviously care more about markets then lives. If you can’t find kindness be a kindness if you can’t find love, be love, and if you cant find peace, make and be peace, and most importantly always help those in need around you with logic, intelligence thoughtfulness, and empathy. As long as we stand together collectively with logic and love there is hope, call it a fools hope.
Firstly President Donald J Trump says he wants the country ‘opened up and just raring to go by Easter,’ despite health experts’ warnings during this outbreak according to CNN (article) aka its dangerous you face planting into a bag of Cheetos like Scarface Al Pacino style fool. Right now Local EMS are Struggling for example — Lee County EMS officials continue to search for ways to stay afloat after receiving news the agency could soon face bankruptcy. The county recently approved $36,000 to fund the private service for the rest of the month but that’s it (article). More then likely that is the same in other areas of the country. According to the Independent Bill Gates says businesses should stay closed during coronavirus pandemic: ‘The US has passed the opportunity to control this(Article) In Regards to Politics, The stimulus deal reached in the Senate includes Items — $200b for hospitals — $150b for state + local govs — 4 mos expanded unemployment insurance, incl gig workers & others — $377b for small biz loans w/ forgiveness eligibility — $30b in emergency education funding far less financial assistance for states Election Security to prepare for 2020 elections amid the risk of disruption by the pandemic. What was taken off the table for this bill was offering all voters mail-in ballots and, if an election is held during a national emergency, sending a mail-in ballot to every registered voter (article) unemployment insurance benefits has expanded eligibility and offering workers an additional $600 a week for four months, on top of what state unemployment programs pay. Millions of Americans have filed for unemployment benefits in the past few weeks, flooding a system that isn’t designed to cope with a sudden wave of applicants and has shut down in some states. Older people would rather die than let Covid-19 harm US economy — Texas official, basically a narrative of suicide for the greatest generation all for a broken market? shame(link).
There is always a war for your mind, your heart, and your wallet. Your Life, your Liberty, and your Property. In a consumer nation, the altar of worship is things. And you are but a tool to a machine that values no life. Perhaps the Stoicism of the culture and greed of old money in the area that inhibits companies and governing body’s ability to grow through cultural expression. Maybe its because the narrative art and culture that was “anti-establishment”, “anti bubble gum”, “anti-baby birded bs narrative and norms.”My generation will understand this meaning, those at the top will always be “possers” aka fake, as Holden Caufield would say “phony” at heart with words not matching action aka word service, with a dash of wag the dog, disconnected from the struggle of the average person, therefore, unknowing of the dreams of peace, the dream of love, the pursuit of happiness, the yearning for a nonhostile, anxiety-free, zero fearing mongering and harassment, the yearning for a better job, a better standard of living, care, and pursuit of knowledge. Maybe it’s a generational thing, parents generation spiting the youth aka boomers and millennials. Maybe its greed. Maybe the Music was anti-establishment and self-reflective, rock lived on, past 1989. The music was too real, and that was the problem, the corporate machine couldn’t control the anti-establishment trend or be part of it without being called out for what they were, only posers to social trends, haves pretending they have not. Imposters to cultural relevance or impact and envious to both. Like i said before, Stoicism of the culture and greed of old money in the area inhibit expression. My gut tells me 80–90’s yuppies or maybe 60–70 traditionalists, with their traditional fears of the poor, with a sweater over shoulders. Part of me thinks its happening across the country for a reason, to better control the youth through their voice, is the arts(music, animation, film, etc). Expressionism has always been dangerous to the powerful. Whoever can control the questions and the flow/amounts of them can control the narrative of the answer. The individual’s rights are only as strong as the collective will, Just as the collectives rights is only as strong as the individuals will. People that labor must stand together, for the value and pay for all, profits right now are the unpaid wages of the worker.
This is why I believe in bottom-up #workplacedemocracy . If a bottom-up Democracy(future E-Democracy my opinion)is good enough for a Governing Bodys, it is then good enough for its Companys’s workers also. May Day(International Workers’ Day) Should be Interesting this year. #Solidarity; People should always come before profit. short-term gains are not worth lives. Whatever happens, we all will be facing it together. Only the working poor and the middle class together as a collective can we overcome the challenges ahead and save lives so Strike Let this give us purpose to be kinder gentle logical but empathetic over apathetic. We are what we feel, don’t be afraid of being afraid, but don’t become that fear for we are together, and we are strong. Don’t be afraid to be yourself and to feel, the fear is natural, our leaders failed us in acting, this feeling is natural and this moment and feeling too shall pass, but how you act and what you do will be the footprint and will be burned not just the minds you love, but also into the pages of history, along with all the data collected.
In a finite resource-based society facing viruses, climate change, and economic uncertainty have a major impact should those companies/individuals/government that leave impacts from lack of oversight and safety standards/workers/human rights, should they then pay/work off a continuous cost/face punishment for their length/damaging negligence depending on the action politician, CEO, governing body? Furthermore Should a Person or a few people, Business, Religion, or Government own/control/profits/people/rights of the many? Or should those profits/natural resources/rights/etc belong to everyone equally in an egalitarian manner unowned or owned collectively? Greater men then have pondered and continue to ponder such.
I say people over profit, empathy over apathy, Knowlege, and fact over Ignorance and Fear-Mongering narratives General Strike for the Safety of all. I say this now to the privileged class, those with the illusion of power, and hubris of ego; If you do nothing, you get nothing. If you do a little you get a little. IF you do a lot you will get a lot. We the people are not fools. What of those who are less fortunate, the single parent, the homeless. Thanks to you we are now self domesticated and workshop boxes and things, and value nothing but nature and life, valuing opinions(emotional logic) over fact-based(mental) logic. You have Twisted the natural way of things. We were met to be caretakers, and from this point on you will reap the cullings avalanche of reality. I know the president is nothing but a mouthpiece for you set there to reassure with the illusion of words and act like the mayor from Jaws reassuring the general public that there are no sharks, or others could argue Like Jim Jones screaming subtly “die with Dignity” all for his ego for we know what he values, things and ego over people and lives. There are people considering Coffee Filters for Toilet paper. Be considerate. Take only what you need, and help those that cannot help themselves. If you cannot find kindness, be kindness. There must Be Senior Only Times Essential Business
But According to some big Banking Financial Institutions those that are Privileged, Capitalistic worship, that the worst (financial projections) will happen in the second quarter of the business cycle April 1st through June 30th That’s when we’ll see the peak of this virus…I’m just saying that because I’m going with the financial institutions and their projection rates and not this Broken Administration because I feel that a bank, the people that maintain value, projections and forecasts, are more then what some countries and companies have. hopefully, I’m wrong in my speculation, (Article Here). I’m sure some Economics Historians are having Flashback to The Hyperinflation in the Weimar Republic (don’t know what that is, click here)Greed out of Fear or Gluttony. Equal knowledge is an equal opportunity. Freedom and liberty is determined by your wallet size sadly and the lawyers you can buy, and how loud your cash is, can determine the freedom of others, for the greedy idealists. We do have OppertunityThere are only 2 classes “have” and “have nots”. To impose is to court Tyranny, Liberty is a choice.
As i said before One has to wonder if the stimulus packages would be better served to be Medicare for all American Healthcare Systems would insulate and be an improvement over the current affair during a Pandemic. Expansion and creation of new social programs like higher education and medicare for all will provide a safeguard for those weaker economic country’s in regards to restructuring its economy would speed up the cost and length of self-repair to its economic system. Social programs that provide food, healthcare, and education to allow it to rebuild the workforce. This is not counting for possible climate change effects creating massive migration(lack of habitable environments and the coastline pushing further because of the poles melting causing a lot of coastal species to die) human climate refugees and diseases(melting permafrost now 28 new viruses (link)along with diseases ticks, parasites, and mosquitoes breeding more because of hotter climates (link).
Act like you deserve to be here, One universal truth is we all love, so be it through your actions and words. Furthermore, why not invest in the children of tomorrow by Expanding and creating more social programs will only grow with the growth of current technology and its impact on the workforce, Income Inequality platform and those that stand behind it will also grow with it. Automation plus capitalism will only lead to a darker employment future. Industry Experts have spoken at this to length saying that 25–40% of the workforce will be replaced by automation and AI within the next 5–15 yrs world wide. Here are three links to further my argument Here, Here and Here. Perhaps self-replicating 3d printers(3d print every part of a pre-existing printer only raw material needed) that can print hospital equipment could save lives here and prevent the spread. Those in positions of Economic Power will accept this innovation because it doesn’t sleep, eat, get sick, take holidays off, it will cut costs and promote growth, meaning the rich will get richer. Those with enough capital to buy these machines, or will supply each person with an AI assistant for better efficiency from lawyers (AI listen to cases finds relating case arguments) to retail (insert efficiency, etc) etc job, they will only grow faster small business and the worker will not be able to compete. Those at the top will not weigh the costs to society nor to their humanity. For they value things, and when the value of things outweighs the value of people you lose the value of everything. With up to 40% of the working population jobs becoming obsolete, major changes will be needed and the only way to counter it is with job creation from innovation and society or nation will yield more with reeducation(free technical and college education).
Who will profit from this tragedy other than the Pharmaceutical Companys, Corporate Hospitals, Health Insurence companies, news outlets who get ad money per click of fear, will their profits go finding a vaccine? Who is going to be able to afford/receive those tests/vaccines first other than federal workers and government officials along with their friends? There are questions then answers and those with the answers seem to dodge, fudge, and avoid the questions or put out incongruent paralleling data. According to the Washington Post the President has told 16,241 false or misleading claims. FACT
“I ask for, not at once no government, but at once a better government.”
― Henry David Thorea
I fear some of us will live to see the trauma and horror in our grandchildren’s eyes and the fear, anger, sadness’s that we can not imagine emotionally at all because of our collective inaction.
As time has gone on the more careless, regarding to the value of our labor, our morals, principles, dignity’ for all have been exploited, dehumanized, overworked to the point of exhaustion to not collectively paying attention or pursue truth, instead we are accepting half-truths which are full lies, and tolerating opinions are more important then facts by baby birded generational systems narrative of fear and control out greed/ego. Both are chains, a slow poison for them want to divide and conquer by feeding fear, ego, vanity, insecurity, for it is easier to control by consistently by masking all of this as normal and ok.
Why do I say that? well, right now we only value, insulated, and protect a system that values things. A system where the value of the things outweigh the value of life and the labors of the living(reinforced by collective belief/desperation or inaction) Right now we are on the edge of losing the value of everything. Right now the individual’s greed(ego/fear) is worth more than the collective’s values and values; labor, or natural cycles of this one planet that sustain us, and our inaction has led to complacency, and complacency has led to tolerance of what is in my view a collective assisted suicide a reaction from ignorant inaction. society’s economic structure is based on the nativity of the instant; fear-mongering vanity and gluttony. But now we MUST be patient no longer in tolerating these behaviors or feeding it with inaction. Forgive me for I am tired, tired of collective systematic lie we believe, that another way is not possible. That we can not rise to meet the tides of change and progress together, overcome our difference Because I believe we can together in #solidarity, Protest Peacefully through your wallets and labor. Strike for better standards and the safety of all.
“Law never made men a whit more just; and, by means of their respect for it, even the well-disposed are daily made the agents of injustice.”
― Henry David Thoreau,
Question Time- Will the Pollin of the spring Making this worse for people with Allergies? What will Grocers do for People Facing Deadly Food Allegerys? Why aren’t their Hazard pay/health benefits for many in Sanitation? What is being done to help the Homeless, the downtraut and forgotten? Why is Debt never canceled and only loans are always given to small businesses during recent times of economic crisis? With the stay at home ban going on, do you think there will be a baby boom in 9 months? Could the Stimulus’s been better served to by College Debt, Protections for Corporate Apartment Tenants from eviction and landlords who might get hit with foreclosure? Medicare for all and Tuition-free College instead of bailing out Wall st again, Hotel Industry’s, Cruise, Insert Hospitality? Will you shop at “non-essential” retail places that stayed open this risking the public and risked their workers let alone without hazard pay, a living wage, and health benefits? Do you think the powers that be, want us to be more empathetic or, apathetic? Lastly, Truth is like Poetry no one likes to hear it, yep, a Poetic posed Question.
Why in Markets
is it Always,
Have and Have nots.
Why in Famine
is it Always,
Poor Eat Poor
Why in War,
Is it Always,
Poor vs Poor.
Why in Dreams
is it always,
Poor Vs Rich.
Let us all Occupy the Couch. Save a Life. #GeneralStrike Still he Privileged incompetent cannot come out and say hey sorry I’m incompetent so they conspire to cover up their incompetence, with excuses, and too little to late action. SO wash your hands, social distance(6 feet apart), don’t go to nursing homes, stay away from hospitals, stay away from people who have immune issues like cancer diabetes HIV, etc patients.. If you’re over 60 don’t fly. Try to do your shopping early morning or right before closing where there’s the least amount of people. Use the pharmacy drive-thru. Wash your hands before and after you smoke, eat, use the toilet, hell after you touch anything, etc. Picture it like a snowstorm. But it’s worldwide and we are 12- 18 months before we have a shovel aka vaccine according to a recent USA Today Article. They haven’t even released accurate numbers because there isn’t enough tests to give it So nobody knows how many people are infected there’s no official count because not everybody’s been screened. if we have only 100k tests. for the United State a country with a population of 300- 400 million.. But no way to test the sick. they will never be an accurate count because we weren’t prepared, not enough tests, and not enough time to backtrace to stop the spread that’s the Bottom line correct? maybe the people in power weren’t ready or didn’t care. They had the privilege to be apathetic. Based on the current recent actions, it seems they cared more about markets than they did about lives.
After everything is read I pose my question again to you my reader, “Could an argument be made, that the rich, who dress nicely, who can afford to travel, entitled and privileged that spread/create it? Was the spread of this Pandemic Caused by Privilege and Capitalism?
Please pay attention to the CDC and WHO for clear absolute facts on how to stay healthy, and what to do, the information they have could save your life and the life others for knowledge is power, and it can save lives. Stay safe out their, please.
This article and it’s contents are republished with the permission of the writer.
The Pandemic Caused by Privilege and Capitalism. Part 2
For more info about the coronavirus, see cdc.gov
As of now, there are a total of 200,000 “confirmed” cases World Wide. In the USA according to the White house Task Force, there are OVER 9,400 COVID-19 CASES WITHIN U.S.virus cases, with 140 dead in the United States as of today. There are 7.7 Billion People in the world. if everyone got the virus, at a 1% death rate we are looking at 77,000,000.
Question time. How Many Grocery Stores Are Sanitizing Shopping carts After each customer use it, or is it a free for all? How Many Gas Stations Sanitize the Pumps After Each use? How many people around the world are Anti Vaxers? Do they test all chefs who prepare food at restaurants? What about those retail workers who stock shelves? those working warehouses, and those working shipping/receiving, Insert job, etc? What about those at Homeless Shelters? DO you think there will be discrimination when hiring or finding a place to live because of the disease? Who Will be prioritized to receive a Ventilator, the rich or the poor or everyone equally who is sick? Should Janitorial workers and grocery/retail store clerks make more money Corporate right now? Are these financial businesses/ industries being helped by government based socialism? Are their enough tests yet reader I’m just asking for America, you know the poor huddling masses yearning to be free?
Imagine if people live-streamed their experiences at the grocery store to #helptheelderly/ #immunecompromised know if products are in or not, imagine if people did that for their #localareas.. how many lives could you save?
Whether you’re a Major Corporate Company (#retail,#grocerystore, #Hospital, #customerservice, #fastfood) Government, or Individual, What you do, and what you say define you. How you protect your Employees and Customers. This is a Test of your Empathy or Apathy. Intelligence or Ignorance.The value of life vs things. Profits vs People.
In my opinion. Will definitely make me rethink where I spend my money/time, hit them where it hurts, their wallets. Bring awareness now, and #Protest if you choose after the curve drops/flatlines for everyone’s safety.. #labor Done with the #live………… videos (<-click the link to watch) for the day from Different local Grocery Markets and Big Chain Stores where my 60-year-old mother lives in Nashua NH ( Walgreen, Cvs, Walmart, Target, 2 of the same chain New England Grocery stores known as Market Baskets owned by “DeMoulas Super Markets, Inc” ). All I was trying to do was help those with immune problems and elderly know where to get goods What goods might be out at certain locations like #toiletpapers and things they might need because for them leaving their house is to risk their lives and if I can help those in my mother’s area in which she lives I figured why not. If you can’t find kindness, be kindness. if you can’t find love, be love.
As of right now, The DNC has called on states not stop Primary from happening according to The Hill article Could an argument will be made to hold the a rerun of Democratic Primary with the 2 remaining Candidates for all states that have already voted based on the Coronavirus? IF Trump Declares Martial Law for whatever reason and it lasts till November, Will Elections still be held in November? The United States Stock Market has erased all gains back to 2016 according to a Politico article. who knows what the Economic Taxpayer/Consumer long-term fallout will be, do you? Bank of America’s top U.S. economist on Thursday warned that the country is now in a recession in a note to investors, According to The Hill Article. Yesterday Unemployment Websites Are Crashing Across The Country according to an NPR article. Now their is a Business insider article stating “Google, Facebook, and other tech companies are reportedly in talks with the US government to use your location data to stop the coronavirus — and to see if social distancing is really working”
As Isaid before The virus doesnt care race religion or creed, it is worldwide now. It has to do with more with have and have nots now as much as it did then. Do you have enough money to travel, do you have a good enough job that you can afford to take time off when your sick, are you traveling for business or pleasure.. capitalism or capitalistic / privilege cause this to spread People didn’t heed health warnings or warnings weren’t properly given out possibly for capitalistic/national security reasons, one out of many because it would cause a panic on the market. Globalization (so-called free trade) caused this. Hopefully, we’ll realize the value of producing things ourselves. Profits over people sadly, but at the end of the day, some Governments are short-sighted enough care more about short term profits they do about the long term gains of its health of their citizens and the workforce they provide.
Healthcare as of right now is a Privilege in the United States, not a right. As of Now These states have closed down all restaurants and bars and have only take out available — California, Connecticut, Florida, Illinois, Colorado, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Carolina, Ohio, Oregon Pennsylvania, Rhode Island South Carolina, Texas, Vermont, Washington, West Virginia, Wisconsin. (link). Also many states are closing schools. Grocery Stores are limiting what you can buy and some Supermarkets are limiting the number of shoppers at one time. Delivery only mite soon follow according to this Washington Posts article. As of right now 2 people in congress have tested positive according to NBC. President Donald Trump Just signed a bill for over a trillion, the first of many, its called Families First Coronavirus Response Act, Lawmakers overwhelmingly voted 90–8 in favor of the “phase two” stimulus measure. Eight Republican senators opposed the measure. This is only the beginning of many possible stimulus to come. Trump also said that he is invoking the Defense Production Act. Canda and the United States have Shutdown all none Essential travel (Link). 7 Airport Employees Control Tower Employees in Chicago have tested positive (link). According to Mother Jones
Minnesota and Vermont Just Classified Grocery Clerks as Emergency Workers, should they not be paid the same? Should All states enact this? Further more Florida governor refuses to shut down beaches amid spread of coronavirus during Spring Break According to NBC article, sounds like the Privlege I was talking about, and the short term profit over the lives of others.
Tests are “free” but Private Corporate Hospitals, Health Insurers and, Pharmaceutical companies are in the business of business and vultures tend to circle no matter the suit of feathers. Hopefully, history remembers those who profit off this tragedy. How much will the average care cost? Also what are the long term health side effects, and if any how much will that care cost? How much will that 20% have to pay? When a governing body/Politicians are so desperate to give a 1000$ to every American, you got to ask yourself, how bad is this really going to be first? And secondly, am I being Bribed? will it make a difference? Will it cover the hospital bill of the working middle class the working poor class if they get the sick and it is serious for them or a loved one? Will 1000$ cover gas, rent, utilities, food, health/car insurance, daycare, medication, insert debt slavery loan. If I were to break it down into 3 categories housing, food, and transportation, it would be 4–5k a Month according to Business Insider in a study they took across 22 cities in 2019. Now eve of a pandemic It will also be one of the greatest workers schedule restructurings will occur of the next few months to account for those affected by the virus. If the virus is going to directly affect your life, it is most likely to be through stopping you from going to work putting more of a burden on the rest of the workforce, either because there is no school or they are sick and in turn Shifts will change, nonessential functions will be put off, and the department will have less flexibility to respond to problems affecting your workers wallet and inturn yours, cause quotas to not be met and supply chains to struggle, and at worst bankrupting your business that you are employed at causing you to be unemployed. What about single parents and those living paycheck to paycheck?
to Quote the Current Wikipedia page
“As of February 2020, federal debt held by the public is 17.23 trillion and intragovernmental holdings were $6.02 trillion, for a total national debt of $23.3 trillion. At the end of 2018, debt held by the public was approximately 76.4% of GDP, and approximately 29% of the debt held by the public was owned by foreigners. The United States has the largest external debt in the world. In 2017, the US debt-to-GDP ratio was ranked 43rd highest out of 207 countries. The Congressional Budget Office forecast in April 2018 that debt held by the public will rise to nearly 100% of GDP by 2028, perhaps higher if current policies are extended beyond their scheduled expiration date.”
According to even the President of the United States Donald J. Trump, when asked NBC’s Peter Alexander “Do the well-connected go to the front of the line?” he said “Well, you have to ask them that question,” President Donald J. Trump then said. “I mean, I’ve read — .” But was cut of by Alexander “Should that happen?” Alexander asked. “No, I wouldn’t say so But perhaps that’s been the story of life…… That does happen on occasion …..and I’ve noticed where some people have been tested fairly quickly.” The New York Times Wrote a Interesting piece on this click here if you want to read it
President Donald Trump Just signed a bill for over a trillion, the first of many, its called Families First Coronavirus Response Act, Lawmakers overwhelmingly voted 90–8 in favor of the “phase two” stimulus measure. Eight Republican senators opposed the measure. This is only the beginning of many possible stimulus to come. Trump also said that he is invoking the Defense Production Act.
To quote him from a video from 2018, when he cut those in charge of Pandemic reponse President Donald J. Trump Siad ““some of the people we’ve cut they haven’t been used for many, many years and if we ever need them we can get them very quickly and rather then spending the money. I’m a business person, I don’t like having thousands of people around when you don’t need them.”
to Quote an NBC Article “Last month from the World Health Organization-China Joint Mission found that while 80 percent of people who got the coronavirus in China had only mild symptoms that could be treated at home, 20 percent got symptoms severe enough to require hospitalization. Of those, 13.8 percent had severe disease, including respiratory problems, and 6.1 percent had a critical illness, including respiratory failure.”
On top of that, the New York Times said “The coronavirus attacks people’s lungs, in some cases compromising their ability to breathe. Ventilators, which deliver air to the lungs through a tube placed in the windpipe, are a crucial tool to keep these patients alive. The computerized, bedside machines can cost as much as $50,000.
Hospitals in the United States have roughly 160,000 ventilators. There are a further 12,700 in the National Strategic Stockpile, a cache of medical supplies maintained by the federal government to respond to national emergencies.”
As of right now the United States Automakers GMC, FORD, and Fait Chrysler have shut down (link). Ford and General Motors has offered up its factories to make ventilators (link) with their being a shortage.
The Verge recently reported a few people in Italy are 3d Printing a life-saving device even though they could maybe possibly in the future face copyright blowback even though the copyright holder denied them the patient. “refused to release design files, forcing them to reverse-engineer the valve. “I talked to an operator who told me he couldn’t give me the files, but after that, we didn’t receive anything from the original company — so I can assure you we didn’t get any threat,” he said. “They said they couldn’t give us the file because it’s company property, but that’s all.” While earlier reporting said the original valve cost over $10,000, Fracassi also told Fast Company that this number was inaccurate.” Will other 3d Printer Hobbyist attempt to do the same here?
As I said before it’s those who can afford to be sick, Its the rich, the privileged, the entitled, those that dress nice, who can afford to travel, that spread/created the pandemic. Right now viruses tentacles has wrapped the world and It has nothing to do with race, religion, or creed, but income. It’s not the American or other countries’ middle class or working poor who’s debt slavery, and the cost of expenses to travel would exceed their monthly to yearly expenses for most incomes. . Exotic and distant faraway places, afforded by wealthy Traveller’s be it business or leisure these people exasperated the problem. That being said it is my opinion Corporations both national and global, and capitalistic interests national and global drove the pandemic to spread, and it will be, the elderly, those with immune issues, the uninsured, the middle class and working poor who will pay the ultimate bill. Those that Survive will have to pay the bill, to quote Christopher Bullock (1716)
’Tis impossible to be sure of any thing but Death and Taxes,
To quote a Paper Recently Published by the London Imperial College by Dr Sabine L. van Elsland, Ryan O’Hare on their Projection model “In the current absence of vaccines and effective drug treatments, there are several public health measures countries can take to help slow the spread of the COVID-19. The team focused on the impact of five such measures, alone and in combination:
- Home isolation of cases — whereby those with symptoms of the disease (cough and/or fever) remain at home for 7 days following the onset of symptoms
- Home quarantine — whereby all household members of those with symptoms of the disease remain at home for 14 days following the onset of symptoms
- Social distancing — a broad policy that aims to reduce overall contacts that people make outside the household, school or workplace by three-quarters.
- Social distancing of those over 70 years — as for social distancing but just for those over 70 years of age who are at highest risk of severe disease
- Closure of schools and universities
Modeling available data, the team found that depending on the intensity of the interventions, combinations would result in one of two scenarios.
In the first scenario, they show that interventions could slow down the spread of the infection but would not completely interrupt its spread. They found this would reduce the demand on the healthcare system while protecting those most at risk of severe disease. Such epidemics are predicted to peak over a three to the four-month period during the spring/summer.
In the second scenario, more intensive interventions could interrupt transmission and reduce case numbers to low levels. However, once these interventions are relaxed, case numbers are predicted to rise. This gives rise to lower case numbers, but the risk of a later epidemic in the winter months unless the interventions can be sustained.The report details that for the first scenario (slowing the spread), the optimal policy would combine home isolation of cases, home quarantine and social distancing of those over 70 years. This could reduce the peak healthcare demand by two-thirds and reduce deaths by half. However, the resulting epidemic would still likely result in an estimated 250,000 deaths and therefore overwhelm the health system (most notably intensive care units).
The world is facing the most serious public health crisis in generations.Prof. Neil FergusonDirector, J-IDEA
In the second scenario (suppressing the outbreak), the researchers show this is likely to require a combination of social distancing of the entire population, home isolation of cases and household quarantine of their family members (and possible school and university closure). The researchers explain that by closely monitoring disease trends it may be possible for these measures to be relaxed temporarily as things progress, but they will need to be rapidly re-introduced if/when case numbers rise. They add that the situation in China and South Korea in the coming weeks will help to inform this strategy further.”
As I said before are on the edge of having one of the greatest workforce restructuring Now with working/receive an education remotely becoming a standard thanks to the pandemic will the likelihood of an automated workplace/workforce also increase? What I’m trying to say is, will the pandemic increase the chances of that? Could warehouse Automation that could load content without the threat/help stem the disease, paired with Self-driving Transportation self-driving vehicles home delivering meds, foods, etc help the current and future situations? thanks to AI and Robotic Automation according to leaders in the technology field saying with 10 years 25% — 40% of the workforce being replaced by technology. It all begins by investing into the children of tomorrow by Expanding and creating more social programs will only grow with the growth of current technology and its impact on the workforce, Income Inequality platform and those that stand behind it will also grow with it. Automation plus capitalism will only lead to a darker employment future. Those in positions of Economic Power will accept this innovation because it doesn’t sleep, eat, get sick, take holidays off, it will cut costs and promote growth, meaning the rich will get richer. Those with enough capital to buy these machines, they will only grow faster small business and the worker will not be able to compete. Those at the top will not weigh the costs to society nor to their humanity. For they value things, and when the value of things outweighs the value of people you lose the value of everything.
I live in American, which means I am privileged with rights and freedoms and education and healthcare; to an extent, sadly depending where you on income class, religion, and color to different degrees. World wide though 80% don’t have internet, according to Gallup the Average income worldwide is 10k and really. Expansion and creation of new social programs like Tutition free higher education and Medicare for all will provide a safeguard for those weaker economic country’s in regards to restructuring its economy would speed up the cost and length of self-repair to its economic system. Social programs that provide food, healthcare, and education to allow it to rebuild the workforce. This is not counting for possible climate change effects creating massive migration(lack of habitable environments and the coastline pushing further because of the poles melting causing a lot of coastal species to die) human climate refugees and diseases(melting permafrost now 28 new viruses https://www.popularmechanics.com/science/health/a30643717/viruses-found-melting-glacier/ along with diseases ticks, parasites, and mosquitoes breeding https://www.cdc.gov/climateandhealth/pubs/vector-borne-disease-final_508.pdf). Furthermore, who will profit from this tragedy other than the news outlets who get ad money per click of fear, will their profits go finding a vaccine? Who is going to be able to afford/receive those tests/vaccines first other than federal workers and government officials along with their friends? There are questions then answers and those with the answers seem to dodge, fudge, and avoid the questions or put out incongruent paralleling data. According to the Washington Post the President has told 16,241 false or misleading claims. Could a argument be made that through 5 degrees of seperation we all know someone who has passed? Should their be more apathy or empathy is up to each individual. In my opinion, if you can’t find kindness, be kindness, if you cant find love, be love. After all we all wouldn’t be here if it was not for the kindness of strangers in way or another.
As i said before The Privileged incompetent cannot come out and say hey sorry I’m incompetent so they conspire to cover up their incompetence, with excuses, and too little to late action. SO wash your hands, social distance, don’t go to nursing homes, stay away from hospitals, stay away from people who have immune issues like cancer diabetes HIV, etc patients.. if you’re over 60 don’t fly. Try to do your shopping early morning or right before closing where there’s the least amount of people. Use the pharmacy drive-thru. Wash your hands before and after you smoke, eat, use the toilet, hell after you touch anything, etc. Make sure if they say stay inside, and stay 6 feet apart, you do so. Picture it like a snowstorm. But it’s worldwide and we are 12- 18 months before we have a shovel aka vaccine according to a recent USA Today Article. After everything is read I pose my question again to you my reader, “Could an argument be made, that the rich, who dress nicely, who can afford to travel, entitled and privileged that spread/create it? Was the spread of this Pandemic Caused by Privilege and Capitalism Globalization and worker exploitation?
This article and it’s contents are republished with the permission of the writer.