Another 3.8 million people filed unemployment claims last week, bringing the total number of unemployed to 30 million. Still, the blue states feel no sense of urgency to re-open the government.
Consumer spending is down 7.5%, the biggest drop on record. Consumer spending, the engine of the U.S. economy, plunged by 7.5 percent in March as the coronavirus pandemic forced businesses to close and triggered a massive surge of job losses.
The Commerce Department’s report said the biggest monthly decline recorded came as “consumers canceled, restricted, or redirected their spending.”
Consumer spending accounts for nearly two-thirds of U.S. GDP and has been a key driver of the economy in recent years.
The eurozone economy, something else we must worry about, is shrinking at a record rate.
A first estimate of the U.S. GDP between January and March showed a contraction of 3.8%, worse than during the financial crisis.
Separate figures revealed a steep fall in economic activity in France and Spain over the same period. In Germany, unemployment has increased though it remains relatively low compared with other nations.
The U.S. economy is also shrinking at the fastest rate since 2008. That will accelerate each day. It’s shrinking now at 4.8%.
U.S. manufacturing is shrinking for the first time in three years.
U.S. equity markets also slid Thursday.
While this goes on, Governor Newsom is worrying about beaches opened to the masses. Whitmer and other extreme blue state governors are flexing their muscles. They like this level of control way too much.
Watch this, especially wait for the fascist Maine governor who is willfully destroying the state:
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The same blue states that will go begging to Uncle Donald for some money while hating on him?
I know they are the wizards of smart but where will the free money come from if no one is working?
This Peak Clown phase of terminal decline is wildly entertaining and except for the people getting wiped out economically it would be even funnier.
When you roll over like sheep and have no backbone then you will be ruled over by slime.
The dumbing down worked so well that people have no idea about God given rights.
If you can’t say NO then you are not free and it is just that simple.