Since the start of the COVID-19 pandemic, food bank lines stretching several miles across the United States have become a symbol financial destruction of households caused by the abrupt closure of enterprises and an unprecedented loss of work.
Tens of millions of people lost their jobs, and millions turned to food banks moreDemand for food pantries has been at a record level since the federal government has deployed National Guard manage food supply chains to prevent disruptions.
In March, April and May, food bank systems nationwide reported unprecedented demand because millions of hungry, unemployed, and impoverished Americans with insurmountable debts and without savings had no meaningful way of putting food on their tables. To be more specific, food security among households in San antonio texas was a huge challengeAs a result, over the course of three months, more than 23 million pounds of food were spotted at the San Antonio Food Bank, 240,000 cars were handed out for distribution and 5800 home visits.
During the reporting period, retail sales rose slightly after a staggering record decline – mainly due to a quarter of all personal income was received from the governmentIn essence, this means that the Trump administration activated money helicopters to avoid a complete collapse of the US economy – through unemployment benefits and emergencies, wealth checks, and so on.
So here is the problem explained by the Twitter pen Long look – the bill notes that the incentive checks that “reflected” retail sales “like a rubber band” “ended in a few weeks,” and with a new increase, we are likely to see at least six weeks of reduction without traffic jams. The real hit begins now. ”
And maybe Long Look is right, because although President Trump gave several press conferences at which he stated that the economy is recovering quickly: “We talked about V,” the president said. “It’s better than V. It’s a rocket ship” – food bank lines may reappear …
Twitter pen Alastair Williamson On Sunday, a video was posted showing dozens of cars queuing up at a food bank in Baltimore, Maryland. We were able to pinpoint the location by looking at the videos of local companies, and we were able to determine that the video was shot on York Road in Lutherville-Timonium, Maryland, outside of the Maryland State Fair.
It looks like Maryland and the Agricultural Society, Inc. For several months now they have been running a food bank from the exhibition complex.
So what about V-recovery? Sunday drive to Main Street. pic.twitter.com/KC3jfSdwUd
– Alastair Williamson (@StockBoardAsset) June 28, 2020
On Twitter, the user asked, “How many people can afford cars, not food?”
Williamson replied: “Their automatic payments are probably delayed for a certain period.”
Another Twitter user said, “7 million US car owners / borrowers have been in arrears for more than 90 days.”
All this suggests that households are still devastated – drops of free money on President Trump’s helicopter are likely to be erased, because now it’s hard for people to put food on the table.
As the consumption hangover is inevitable, the Trump administration will need to send more incentives / socialist checks to busted and unemployed Americans – although, according to the Long Review, consumption should plummet before the next checks arrive.
A complete storm of weak consumption and the emergence of a second wave of coronavirus can overwhelm households and enterprises in the second round – food bank lines are becoming the new norm.