re: #77 lawhawk

Fuck Trump, Fuck the GOP, and fuck his enablers in Trumpworld. (Oh, and greets and saluts from the NYC metro area!)

Trump’s conspiracy craziness is up to 11 this morning, precisely because this morning his own government is releasing the official unemployment rate for the past month, and it will be the absolute worst on record. Unemployment rate officially hit 14.7%, which is the worst since the Great Depression. The Trump Collapse is official. And as the Minnesota Fed chair has indicated, the true rate is probably closer to 20% because it’s not capturing all the gig economy jobs that vaporized too.

He destroyed the US economy within 6 weeks. That’s it. It took him six weeks to absolutely and totally fuck the economy over in ways few could have contemplated. His failures to act have reverberated throughout the economy, the health care system and it’ll persist long after Trump leaves.

He’s done more damage in less time than anyone else in our history.

And the recovery wont be immediate, or even complete by the end of the year. That’s just wishful thinking from Trumpists and economists who ignore that once a business goes under, it’s not coming back and those jobs aren’t coming back.

It also doesn’t even begin to take into account the massive disruption to the retail real estate and retail market as brick and mortar sees businesses that were already faltering collapse entirely, and resulting in a huge increase in vacancies, which has a ripple effect that will ultimately also affect the stock market too.

The economy especially won’t be able to recover quickly because a vaccine probably won’t be ready for mass inoculation until 2022, and that is being optimistic. We are going to go through many waves of infections and death, which will keep economic activity sputtering at a low level.