As Treasury Secretary Steve Mnuchin pitched his trillion-dollar-plus bailout for Americans (and their companies) struggling during the Covid-19 crisis, it appears he has ripped a page right out of the TARP playbook… scare the Senators to death about the consequences of not approving the funds.
Bloomberg reports, according to sources familiar with the matter, that Mnuchin warned the Senate GOP members that without action, the US unemployment rate could spike to a stunning 20%.
With a total labor force or around 160 million, that would mean a sudden spike to over 30 million unemployed Americans
Those are depression-era levels of job losses… which prompted the New Deal and the welfare state the last time it happened…
This time – MMT, UBI, and socialized losses for everyone.
He may well be right, with New York’s unemployment claims website crashing and the chief economist of a multi-billion macro hedge fund advising us that they are now modeling approximately 10 million job losses over the next two to three months.
We leave it up to readers to decide if Mnuchin’s projection too little, too much, or just right.
Time to start the presses…
Right. And some shabbos goy senator or congress-critter proposed “$1,000 for ever adult in the US” or “universal basic income” nonsense (of course, as with social secruity–thank you Bill Clinton ‘ol gangster–is now “taxable” up to 85 percent, this thousand dollar crapola will also be “taxable”!) After all, Hegel is laughing in his grave…problem-reaction-solution…shutdown everything over the “problem” (they created) coronavirus so that many millions lose jobs which causes loss of income and thus loss of “taxable” income, then give everyone a crumb off the tables of the criminal psychos running this world to Satan’s specifications, and “tax” that crumb! But a psycho’s gonna do what a psycho’s gonna do, just hope you all enjoy the weeping you’re gonna do when Satan “gnashes teeth” on your bones forever…
The creepy irony of the scum corporate media repeating the number 33 in a variety of reports from all over the world is blatant. Those with eyes see this is no accident. It astonishes me the traffic on this webpage has not made a clear increase in presence. Perhaps it has, but not by any metric which I can detect. This immersion of RF amongst humanity is diabolical and what is it going to take for there to be a breaking point where people stand up and come together and tack some fu!@ing action??