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  1. #1
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    United Airlines announced plans to lay off more than one-third of its 95,000 workers.

    Brooks Brothers, which first opened for business in 1818, filed for bankruptcy.

    And Bed Bath and Beyond said it will close 200 stores.


    Welcome to the recovery.

    If there were still hopes of a “V-shaped” comeback from the novel coronavirus shutdown, this past week should have put an end to them.

    appears instead to be settling into a traditional, self-perpetuating recession.

    But without a uniform federal strategy, many governors rushed to reopen their economies before bringing the virus under control.

    the economy could begin shedding jobs again this month and in August,

    Many small businesses that received forgivable government loans have exhausted their funds while

    some larger companies are starting to thin their payrolls in preparation for a longer-than-expected downturn.

    “ ‘Stalling’ is the word I’m using,”

    “But the risk there is that the numbers start turning negative again.”

    Several regional Federal Reserve officials last week expressed concerns about the recovery petering out.

    Trump: “I created the greatest economy we’ve ever had.

    And now we’re creating it again,”

    The economy did regain a total of 7.5 million jobs in May and June, faster than many economists anticipated. But that

    was just one-third of the number lost to the pandemic.

    layoffs are spreading beyond companies that provide services requiring direct human contact.

    the job loss is starting to feed on itself in a classic recessionary spiral

    the pandemic ... is prompting companies to rethink their operations and to trim fat that ac ulated while the economy was growing.

    Wells Fargo, the nation’s fourth-largest bank, is drawing up plans to cut “tens of thousands” of jobs later this year,

    layoffs that initially were described as a temporary response to a health crisis are hardening into something more permanent,

    leaving millions of workers scrambling to regain their footing in a changed economy.

    The labor market remains a ruin.

    First-time claims for unemployment benefits have exceeded the previously unheard of figure of 1 million for 16 consecutive weeks.

    https://www.washingtonpost.com/busin...y-be-fizzling/

  2. #2
    Believe.
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    United Airlines announced plans to lay off more than one-third of its 95,000 workers.

    Brooks Brothers, which first opened for business in 1818, filed for bankruptcy.

    And Bed Bath and Beyond said it will close 200 stores.


    Welcome to the recovery.

    If there were still hopes of a “V-shaped” comeback from the novel coronavirus shutdown, this past week should have put an end to them.

    appears instead to be settling into a traditional, self-perpetuating recession.

    But without a uniform federal strategy, many governors rushed to reopen their economies before bringing the virus under control.

    the economy could begin shedding jobs again this month and in August,

    Many small businesses that received forgivable government loans have exhausted their funds while

    some larger companies are starting to thin their payrolls in preparation for a longer-than-expected downturn.

    “ ‘Stalling’ is the word I’m using,”

    “But the risk there is that the numbers start turning negative again.”

    Several regional Federal Reserve officials last week expressed concerns about the recovery petering out.

    Trump: “I created the greatest economy we’ve ever had.

    And now we’re creating it again,”

    The economy did regain a total of 7.5 million jobs in May and June, faster than many economists anticipated. But that

    was just one-third of the number lost to the pandemic.

    layoffs are spreading beyond companies that provide services requiring direct human contact.

    the job loss is starting to feed on itself in a classic recessionary spiral

    the pandemic ... is prompting companies to rethink their operations and to trim fat that ac ulated while the economy was growing.

    Wells Fargo, the nation’s fourth-largest bank, is drawing up plans to cut “tens of thousands” of jobs later this year,

    layoffs that initially were described as a temporary response to a health crisis are hardening into something more permanent,

    leaving millions of workers scrambling to regain their footing in a changed economy.

    The labor market remains a ruin.

    First-time claims for unemployment benefits have exceeded the previously unheard of figure of 1 million for 16 consecutive weeks.

    https://www.washingtonpost.com/busin...y-be-fizzling/
    Wrong

  3. #3
    Independent DMX7's Avatar
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    It’s not just the economy that’s crumbling, it’s also our nation’s finance. The national deficits aren’t just leaving are grandchildren with historic levels of debt but now it’s on to the great grandchildren.

  4. #4
    Take the fcking keys away baseline bum's Avatar
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    Trump needs to get Balous Miller to DC to bring his recovery to the nation, that'll solve everything.

  5. #5
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    It’s not just the economy that’s crumbling, it’s also our nation’s finance. The national deficits aren’t just leaving are grandchildren with historic levels of debt but now it’s on to the great grandchildren.
    national debt isn't a problem. Just print the money, $Ts of it, known as "counter-cyclical spending" in troughs where the private sector has cratered.

    I read where if the $600/week for unemployed was kept up, GDP would grow 4% in the next 12 months.

    Also, pay down the debt with killing all the tax cuts and loopholes for the oligarchy.

  6. #6
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    It's da oligawky

  7. #7
    Got Woke? DMC's Avatar
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    "lock it down!"

    "muh economy!"

    Same voices

  8. #8
    Independent DMX7's Avatar
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    national debt isn't a problem. Just print the money, $Ts of it, known as "counter-cyclical spending" in troughs where the private sector has cratered.

    I read where if the $600/week for unemployed was kept up, GDP would grow 4% in the next 12 months.

    Also, pay down the debt with killing all the tax cuts and loopholes for the oligarchy.
    No, you’ve been tricked into thinking the money grows on trees. Print enough money and eventually you will get the negative effects of hyper-inflation, u.s. debt being dumped globally, and the end of the U.S. dollar as the reserve currency and the privileges that come with it. The debt today is not going to crush us put the path it’s on is totally unsustainable.

  9. #9
    Savvy Veteran spurraider21's Avatar
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    "lock it down!"

    "muh economy!"

    Same voices
    ^peanut gallery

  10. #10
    Got Woke? DMC's Avatar
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    Can't have the rain without the wet.

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