Good ideas and conversation. No ads, no tracking. Login or Take a Tour!
kleinbl00 · 1947 days ago · link · · parent · post: 6.6 Million More Americans File For Unemployment As Coronavirus Keeps Economy Shut
The basic problem is that the economy for the past ten years has been based on share buybacks, rather than R&D, expansion or production. Basically, the entire economy has been frozen in time in 2007 but has increased in expense by 300%. Yeah, if you were selling donuts no problem in January you'll be selling donuts no problem in July but all the financial hijinks between your government and your money have deteriorated. They were fragile to begin with. And this has been a real shock to all things fragile. So the unemployment, in theory, should be fine. In practice, the places where the jobs are are in a whole 'nuther category of stress.