In 2020, everything, of course, went crazy. First, we witnessed the eruption of the worst global pandemic in the last 100 years, then the US economy began to collapse, and then we watched large US cities burn from coast to coast when riots and rip-offs got out of hand. Everywhere you look, people are very angry and deeply disappointed, almost 46 million Americans Over the past few months, they have applied for unemployment benefits, and the fear of COVID-19 continues to paralyze our society to an alarming degree. But can this really be called the lowest point in modern US history?
In accordance with one recent survey, 72 percent of all Americans truly believe this is “the lowest point in the history of the country they have ever seen”…
In two surveys, more than 5,000 US adults were recently surveyed in the state of America. A staggering 83% say worrying about the future of the United States is a great source of personal stress. In addition, 72% believe that this is the lowest point in the history of the country they have ever seen.,
This seems to be a complete consensus.
Of course, many of those who were alive during the Great Depression of the 1930s and the first days of World War II strongly argued that what we are experiencing today is nothing compared to what they had to deal with.
And, without a doubt, the twelve years from 1968 to 1980 were difficult years for any imagination. As now, the Americans of that era faced great civil unrest, huge economic problems, serious political upheaval and a global pandemic that killed many people. If you don’t know about this pandemic, just google the “1968 flu pandemic.”
Having said all this, there is certainly reason for 2020. Even during the Great Depression, we never saw the apocalyptic surge in unemployment that we observed this year. Even almost 46 million Americans have already begun to apply for unemployment benefits since the start of the COVID-19 pandemic; large firms continue to lay off thousands and thousands of workers, Furthermore, over 100,000 enterprises already closed their doors forever, and the Americans already missed payments for more than 100 million loans,
And, as I explained the other day, the most severe pain from this economic downturn will not even begin to hit us up to six weeks,
As emergency state aid begins to fade, it will be very difficult for a growing number of Americans to keep up with bill payments. In fact, another new study found that about half of all homeowners “Worrying about future mortgage payments”…
A new study suggests looking at poor households, reveals that of the 2,000 American homeowners surveyed, more than half (52%) of respondents say they usually worry about future mortgage payments, and almost half (47%) consider selling their home for the inability to service mortgage payments.
A study by OnePoll and the National Association of Realtors found that 81% of respondents experienced unexpected financial stress due to a virus-caused recession. More than half (56%) cut costs so they could service mortgage payments.
Meanwhile, the fear of COVID-19 will continue to paralyze our society for the foreseeable future.
I don’t know if you watched the numbers recently, but the truth is that the number of confirmed cases in the USA starts to grow againFor the planet as a whole, Friday was the worst pandemic day so far by a very large marginand this means that this crisis is very far from over.
There is already a whisper that there may be new locks here in the United States. I seriously hope that this does not happen, because it will be another crushing blow to our collapsing economy, and the virus will continue to spread during the first round of blockages.
Among other things, new riots, robberies and violence can erupt literally at any time. Since this is an election year, tensions will increase even higher than usual, and even a relatively small spark can cause another round of major civil unrest.
But no matter how bad it is now, most people do not understand that this is only the beginning.
As I have already warned many times, we have entered a period when we will face one crisis after another, and this will be true, regardless of what happens during the November elections.
We have reached a historic moment when all cycles end, all bubbles burst, and we will experience the consequences of all the very stupid decisions that we have made for decades.
At the moment, the near future is so gloomy that it turns all kinds of people into raging pessimists. For example, Wolf Richter just published an article in which he explained why did he just lock the whole stock market…
I am sharing this deal so that everyone can make fun of me and greet me as a jerk and enjoy my expenses in the comments for weeks and months every time the market grows. And I do not recommend buying this market; it’s crazy But that’s why I did it.
The stock market has just passed what has been called the “greatest 50-day rally in history.” The S & P 500 soared 47% from an intraday low on March 23 (2 192) to close on June 8 (3 232). It was a grandiose phenomenal rally. Since June 8, the market has gone astray, but not by much. This is still a phenomenal rally. And this happened during the worst economy of my life.
I know that many will criticize him for such a step, but I salute his courage.
Even if his terms are a little earlier, I certainly agree with him that this last bubble blown up by the Fed will inevitably burst.
But in the end, we will face much more serious problems than the stock market crash. In fact, a market crash will be one of our problems.
Because not only our economy is falling apart.
Our whole society is in the process of explosion, and if you do not like 2020, then you really will not like what will happen in 2021 and beyond.