The Great Bipolar Depression

The most corrupt and inefficient administration in American history, run by the most crazy, heartless, dishonest, paranoid president ever, is simultaneously facing the worst unemployment shock since the Great Depression and the gravest pandemic in more than a century. It’s not good. And neither are the latest unemployment numbers. “The Labor Department delivered a historically bad employment report Friday, showing 20.5 million jobs lost last month as the nation locked down against the coronavirus. The jobless rate soared to 14.7% — the highest level since the Great Depression.” It’s basically The Great Depression plus The Great Infection being managed by The Great Deception. The US economy has been pushed out of a plane at 30K feet, and a Jared Kushner-managed team of volunteers was in charge of packing the parachute.

+ The Chart of Darkness: The state of employment in pandemic America, in 6 charts.

+ The job losses hit almost every sector, including, health. “Stunningly, in the middle of a public health crisis, employment in health care fell by 1.4 million as Americans avoided visits to their doctors and dentists for all but the direst emergencies.” NYT Upshot: The Disastrous Employment Numbers Show Almost Every Job Is at Risk.

+ In 1929, The Great Depression began with a stock market crash. The 2020 economic crisis could be called The Great Bipolar Depression. Jobs are disappearing and main street is getting crushed, but stock market mania is humming right along. NY Mag: The Unemployment Rate Is 15 Percent. Here’s Why the Stock Market Doesn’t Mind.

Copied to Clipboard