The wreckage from the Chinese Virus pandemic and imprudent shutdown of the economy by panicked public officials is far from finished. And that could spell trouble for President Trump come Election Day.
After the Fed announced it would expand its efforts to “support” the economy by buying corporate bonds, Wall Street rebounded nearly 1,000 points on the news.
Another week, another bad report from the Labor Department. The number of those filing unemployment claims is steadily dropping, but remained close to two million for the week ending May 30.
The week ending May 16 added another 2.4 million to the unemployment rolls, a decrease from the previous week but one that raised the number of claims since March 1 to nearly 40 million.
House and Senate Democrats are proposing to spend even more money they don’t have in another round of stimulus payments.
Elon Musk is likely taking a page out of Trump's workbook, pressuring county officials to reconsider their decision to keep his plant closed.
Though new unemployment claims are dropping week-to-week, they still number in the millions and continue to show the devastating blow from the Chinese Virus and the ensuing national panic and lockdown.
The economy took another massive hit the week ending April 25: Another nearly four million Americans filed for unemployment.
Some people worry our nation’s food supply chain is starting to break, with meat-packing plants closing and farmers plowing under crops that there is no market for.