Economic activity across the country has collapsed GDP is shrinking at the fastest pace on record and the economic data is worse than anytime in history
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." and when we look back on this in two years time, from the ruins of our economy and the ruins of our liberty, we will want to see some kind of justice, that the people who made this decision should pay a penalty for what they've done." Peter Hitchens
Economic activity across the country has collapsed, GDP is shrinking at the fastest pace on record, and the economic data is worse than anytime in history. Every sector of the economy is contracting and every economic indicator is pointing down. According to economist Nouriel Roubini, the country is headed towards a decade of "depression and debt", and that is probably an understatement.
What prompted our leaders to follow the path of China? Were they bullied into it by Dr. Fauci and the Vaccine Gestapo or were they simply reacting to the sudden rise in Covid cases that skyrocketed overnight? Whatever the reason might be, the country is now headed for either a short-but-severe "U" shaped recession or an excruciating-and-protracted 1930s-type slump. Small and mid-sized businesses are folding by the thousands, the states are drowning in red ink, and more people are currently unemployed than anytime in the country's 244 year history. The lockdown has effectively obliterated the economy and left the country in ruins. Here's some background from an article at Yahoo Finance:
"Permanent job losses are likely to be a feature of the eventual U.S. recovery, according to University of Chicago research, which estimates that 42% of recently unemployed workers will not return to their jobs amid the "profound" shock stemming from coronavirus lockdowns.
The pandemic has taken a brutal toll on the world's largest economy, with at least 36 million people thrown out of work over the last two months".The lockdowns have cratered activity in an economy that consists of 70% consumer spending, while undoing all of the jobs created since the great recession ended".
"It will likely take a number of years for the labor market to recover from its pandemic-induced meltdown.""researchers extrapolated their findings that over 100,000 restaurants are expected to be permanently shuttered in the near-term""
Some employers will shift resources to other roles, while many laid off workers may have to find new positions or careers."
("'Major reallocation shock' from coronavirus will see 42% of lost jobs evaporate: Study" Yahoo Finance)
The American people have yet to grasp the magnitude of the devastation caused by the lockdown but, soon, it will be the only topic of conversation. Most people left their jobs thinking they would return to them in a matter of weeks. They never imagined that a policy blunder would put the economy into a vicious death spiral that would terminate their livelihoods, dampen their prospects for the future, and reduce them to hopelessness and destitution. They never thought that such a nightmare was possible, especially since they were just following the orders of their governors and the affable Dr Fauci. They trusted these people. They put their lives in their hands and they were misled, duped into believing that these "experts" knew what they were doing when, all-along, they were making it up on the fly. Now we're all going to pay for the mistakes for which they alone are responsible. This is from abc7news:
"Doctors at John Muir Medical Center in Walnut Creek say they have seen more deaths by suicide during this quarantine period than deaths from the COVID-19 virus."The head of the trauma in the department believes mental health is suffering so much, it is time to end the shelter-in-place order.
"We've never seen numbers like this, in such a short period of time," he said. "I mean we've seen a year's worth of suicide attempts in the last four weeks."
Kacey Hansen has worked as a trauma nurse at John Muir Medical Center in Walnut Creek for almost 33 years. She is worried because not only are they seeing more suicide attempts, she says they are not able to save as many patients as usual.
"What I have seen recently, I have never seen before," Hansen said. "I have never seen so much intentional injury."The trauma team is speaking out because they want the community to be aware, for people to reach out and support each other and for those who are suffering to know they can get help." ("Suicides on the rise amid stay-at-home order, Bay Area medical professionals say", ABC News 7)
Here's more from an article at the Washington Examiner:
"A study published in early May suggested that the coronavirus could lead to at least 75,000 deaths directly brought on by anxiety from the virus, job losses, and addiction to alcohol and drugs. Another study conducted by Just Facts around the same time computed a broad array of scientific data showing that stress is one of the deadliest health hazards in the world and estimated that the coronavirus lockdowns will destroy 7 times as many years of human life than strict lockdowns can save".
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