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History in the making when it comes to so much that is taking place globally, but today’s presentation will focus on US Initial Jobless Claims. Since the Great Financial Crisis (GFC), nearly 22 million jobs were created. Over the last four weeks, this total has been entirely wiped out. When we add the numbers from this week’s data release, taking us to the last five weeks, 26.5 million Americans have filed for unemployment insurance. These weekly numbers surpass those even in the depths of the GFC by a factor of 10x in some instances. These are beyond recessionary figures – these are sadly depression-level data.
The Kapital News believes that free-market capitalism is the solution, but unfortunately, given the policies enacted and soon to be enacted by the government and Federal Reserve, have all but removed this as a possible solution. Instead, the people must now rely on the same policymakers to solve the many problems that they are responsible for causing. These actions, are likely going to turn what would have been a severe recession, into a depression and perhaps, “The Greatest Depression.” #Economy #Jobs #Recession #Debt #Bailouts #Depression #USA