ECON This Is Why We Are Facing A 6 Week Countdown To Immense Economic Despair...

[Blacknarwhal]

It's like they always say: doom is six weeks away!

And this time, they've got a pretty decent reason why.

Fair use cited so on and so forth.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

This Is Why We Are Facing A 6 Week Countdown To Immense Economic Despair...

Authored by Michael Snyder via TheMostImportantNews.com,

Many of the emergency economic measures that were put into place to support the American people financially throughout this pandemic are about to disappear, and that means that big trouble is on the horizon. Right now, we are in the midst of the deepest economic downturn since the Great Depression of the 1930s. Economic activity has fallen dramatically, more than 100,000 businesses have permanently closed, and more than 44 million Americans have lost a job so far in 2020. But up to this point most Americans are not feeling too much economic pain thanks to unprecedented intervention by the federal government. Unfortunately, that short-term boost of artificial relief is about to wear off, and that is going to cause some major problems as we approach the end of this calendar year.



Earlier today, two sentences from a Buzzfeed article about the extreme economic despair that is ahead of us really got my attention…
Dallas Fed Chief: Systemic Racism Is Hindering US Economic Growth

The US economy right now is like a jumbo jet that’s in a steady glide after both its engines flamed out. In about six weeks, it will likely crash into the side of a mountain.

I think that is a perfect description of what we are facing, except that I would replace “U.S. economy” with “U.S. consumers”.

The truth is that the economy has already crashed, but consumers have been shielded from the effects of that crash by trillions of dollars in emergency government spending and other unprecedented measures…

What’s kept us in the air so far is an extraordinary government relief effort. In most states, evictions have been temporarily banned, preventing a mass homelessness crisis. Most federal student loan payments have been put on hold, removing one of the largest recurring monthly expenses that millions of people face. Banks were ordered to give their customers a six-month break on mortgage payments if requested.
Most importantly, and counterintuitively, household income sharply increased in April as hundreds of billions of dollars in lost wages were replaced by trillions in government spending. The government sent out more than 159 million stimulus payments of up to $1,200 per adult (more if you have kids), and more than 20 million unemployed people became eligible for an extra $600 a week in federal unemployment benefits. The result, according to Bloomberg, was the largest monthly increase in household income ever recorded.

What we have witnessed has been a sudden transfer of wealth that is unlike anything we have ever seen in all of U.S. history, and this has allowed most Americans to get through the past few months without too much of a problem. In fact, many unemployed workers have been bringing home more money than they did when they were actually working.

But on July 31st (about 6 weeks from now) that is all going to change.



The $600 unemployment bonuses are scheduled to end on that date, and President Trump and Republican leaders in Congress have made it clear that they have no intention of extending them.

In addition, it looks like there will be no more direct checks from the government for ordinary Americans even if another “stimulus bill” is passed.

So tens of millions of Americans will soon be facing a future in which they are bringing in very little income.

In addition, the various bans on evictions around the country will soon be coming to an end, as will the grace periods for mortgage payments.

Without enough income coming in, a lot of Americans will soon be losing their homes, and this will likely really start ramping up as we head into the holiday season.

On top of everything else, the grace period on federal student loans will come to an end at the beginning of October.

Ouch.

Basically, all of the economic pain that had been deferred will come rushing back with a vengeance over the next several months.

Of course Congress could delay things a bit more by borrowing and spending trillions of more dollars that we simply do not have, but all of the reckless spending that they have done already has put us in very perilous territory…

Trillions are now whooshing by at a breath-taking pace. The US gross national debt – the total of all Treasury securities outstanding – jumped by $1 trillion over the past five weeks, from May 4 through June 8, and by $2.5 trillion for the 11 weeks since March 23.
The total US national debt outstanding has reached $26 trillion, according to the Treasury Department.

It took from the founding of the United States until 1981 for the U.S. national debt to reach one trillion dollars, and now we have added that same amount to the debt in just five weeks.

Wow.

Our elected officials are absolutely destroying our future, but most Americans don’t seem too alarmed by this.

Instead, many are clamoring for even more “free money”, because they say that what they have gotten so far is not nearly enough.



Of course the federal spending that has already taken place has not exactly had the desired effect.

Americans were supposed to take the money they were receiving and spend it.

But instead, one recent survey found that most Americans are actually cutting back on their spending right now…

• Saving more money: 34% of survey respondents indicate they’ve upped their savings rate because of the novel coronavirus.
• Reducing spending: During these turbulent times, 59% of Americans have cut their budgets so they aren’t spending as much money as they did pre-pandemic.
• Re-evaluating their priorities: 48% of those surveyed indicate they are prioritizing living expenses, while 30% of respondents indicate their top priority is consumables, including food and drink.

No matter how much money Congress showers on the American people, they aren’t going to be able to eliminate the overwhelming fear that COVID-19 has created.

For the foreseeable future, a large portion of the population is simply not going to resume their normal economic patterns because they are scared of the virus.

And in many of our large cities, rioting, looting and violence has depressed economic activity even further.

A major economic downturn is here, and it looks like it is going to be very, very deep.

Congress was able to minimize the discomfort for a while, but those emergency measures were only intended to help for a short period of time, and in about six weeks the entire country is going to start feeling a tremendous amount of pain.

 

[Doc1]

"Instead, many are clamoring for even more “free money”, because they say that what they have gotten so far is not nearly enough."

Of course they are. Everyone likes free money, even yours truly. Virtually no one returned their $1200 (or whatever) check, saying, "I don't believe this is fiscally sound."

There are a huge number of reasons for this, but the main two are cynicism and greed. The greed angle covers almost everyone to one degree or another, but the cynicism really comes down to a jaded view of government fiscal policies. Once you get past the infantile, Marxist, "Everyone should get everything free" attitude, there are more profound reasons for cynicism.

People who do the slightest amount of research understand - and are pissed - about the government bailouts of the banks and large corporations. This leads even conservative people to being willing to accept the free money, since the big boys have been getting theirs for years. The socialists and lower classes have been screaming for generations that the system isn't fair. Now, more and more, the middle class is screaming the same thing, though for different reasons.

I agree with the author's observation that we are on the precipice of economic disaster. There are few things the government can do other than shovel out more free money. I expect this to happen, since we are on the eve of national elections. As any thinking person understands, this will ultimately devalue the currency further.

Our nearer-term future? Higher and higher rising food costs and concurrent social unrest.

Best
Doc

 

[20Gauge]

It's like they always say: doom is six weeks away!

And this time, they've got a pretty decent reason why.

Fair use cited so on and so forth.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

This Is Why We Are Facing A 6 Week Countdown To Immense Economic Despair...

Authored by Michael Snyder via TheMostImportantNews.com,

Many of the emergency economic measures that were put into place to support the American people financially throughout this pandemic are about to disappear, and that means that big trouble is on the horizon. Right now, we are in the midst of the deepest economic downturn since the Great Depression of the 1930s. Economic activity has fallen dramatically, more than 100,000 businesses have permanently closed, and more than 44 million Americans have lost a job so far in 2020. But up to this point most Americans are not feeling too much economic pain thanks to unprecedented intervention by the federal government. Unfortunately, that short-term boost of artificial relief is about to wear off, and that is going to cause some major problems as we approach the end of this calendar year.



Earlier today, two sentences from a Buzzfeed article about the extreme economic despair that is ahead of us really got my attention…
Dallas Fed Chief: Systemic Racism Is Hindering US Economic Growth


I think that is a perfect description of what we are facing, except that I would replace “U.S. economy” with “U.S. consumers”.

The truth is that the economy has already crashed, but consumers have been shielded from the effects of that crash by trillions of dollars in emergency government spending and other unprecedented measures…


What we have witnessed has been a sudden transfer of wealth that is unlike anything we have ever seen in all of U.S. history, and this has allowed most Americans to get through the past few months without too much of a problem. In fact, many unemployed workers have been bringing home more money than they did when they were actually working.

But on July 31st (about 6 weeks from now) that is all going to change.



The $600 unemployment bonuses are scheduled to end on that date, and President Trump and Republican leaders in Congress have made it clear that they have no intention of extending them.

In addition, it looks like there will be no more direct checks from the government for ordinary Americans even if another “stimulus bill” is passed.

So tens of millions of Americans will soon be facing a future in which they are bringing in very little income.

In addition, the various bans on evictions around the country will soon be coming to an end, as will the grace periods for mortgage payments.

Without enough income coming in, a lot of Americans will soon be losing their homes, and this will likely really start ramping up as we head into the holiday season.

On top of everything else, the grace period on federal student loans will come to an end at the beginning of October.

Ouch.

Basically, all of the economic pain that had been deferred will come rushing back with a vengeance over the next several months.

Of course Congress could delay things a bit more by borrowing and spending trillions of more dollars that we simply do not have, but all of the reckless spending that they have done already has put us in very perilous territory…


It took from the founding of the United States until 1981 for the U.S. national debt to reach one trillion dollars, and now we have added that same amount to the debt in just five weeks.

Wow.

Our elected officials are absolutely destroying our future, but most Americans don’t seem too alarmed by this.

Instead, many are clamoring for even more “free money”, because they say that what they have gotten so far is not nearly enough.



Of course the federal spending that has already taken place has not exactly had the desired effect.

Americans were supposed to take the money they were receiving and spend it.

But instead, one recent survey found that most Americans are actually cutting back on their spending right now…

• Saving more money: 34% of survey respondents indicate they’ve upped their savings rate because of the novel coronavirus.
• Reducing spending: During these turbulent times, 59% of Americans have cut their budgets so they aren’t spending as much money as they did pre-pandemic.
• Re-evaluating their priorities: 48% of those surveyed indicate they are prioritizing living expenses, while 30% of respondents indicate their top priority is consumables, including food and drink.

No matter how much money Congress showers on the American people, they aren’t going to be able to eliminate the overwhelming fear that COVID-19 has created.

For the foreseeable future, a large portion of the population is simply not going to resume their normal economic patterns because they are scared of the virus.

And in many of our large cities, rioting, looting and violence has depressed economic activity even further.

A major economic downturn is here, and it looks like it is going to be very, very deep.

Congress was able to minimize the discomfort for a while, but those emergency measures were only intended to help for a short period of time, and in about six weeks the entire country is going to start feeling a tremendous amount of pain.

Things to think about.....

44 million have lost jobs in the last 12 weeks. That is 30+% of the total work force. It is about 40+% of the private / non-government work force which to a large extent is exempt from job loss.

 

[psychgirl]

I only spent 200 and that was to fix my car. The rest will pay the stinking taxes I owe.

 

[shane]

Anything to make things worse and/or make them appear more so, between now and elections, will be fully unleashed.

These next few months are going to be horrendous for numerous reasons, all either created by or exacerbated by the liberal, demoncrat socialists.

They have no moral restraint whatsoever and will readily kill and bankrupt millions if that's what it takes to get/hold power.

Panic Early, Beat the Rush!
- Shane

 

[20Gauge]

"Instead, many are clamoring for even more “free money”, because they say that what they have gotten so far is not nearly enough."

Of course they are. Everyone likes free money, even yours truly. Virtually no one returned their $1200 (or whatever) check, saying, "I don't believe this is fiscally sound."

There are a huge number of reasons for this, but the main two are cynicism and greed. The greed angle covers almost everyone to one degree or another, but the cynicism really comes down to a jaded view of government fiscal policies. Once you get past the infantile, Marxist, "Everyone should get everything free" attitude, there are more profound reasons for cynicism.

People who do the slightest amount of research understand - and are pissed - about the government bailouts of the banks and large corporations. This leads even conservative people to being willing to accept the free money, since the big boys have been getting theirs for years. The socialists and lower classes have been screaming for generations that the system isn't fair. Now, more and more, the middle class is screaming the same thing, though for different reasons.

I agree with the author's observation that we are on the precipice of economic disaster. There are few things the government can do other than shovel out more free money. I expect this to happen, since we are on the eve of national elections. As any thinking person understands, this will ultimately devalue the currency further.

Our nearer-term future? Higher and higher rising food costs and concurrent social unrest.

Best
Doc

We have been on the precipice for some time. I would point out that it most likely started in February of this year.

Yes, people and we can start at the 50% moochers, are looking for an easy out. I expect politicians to agree at some point.

So the $600 kicker won't be extended as it is now, but will most likely come back as something else. Perhaps the $400 per week get back to work kicker. The proposal is $400 per week to anyone who gets a job.

School loans will be pushed out until next year. I am not sure when they will do this, but they will.

Those who want to work will find work in the next 3-4 weeks well before the end of the kicker program.

The rest and how they act and we react to them, will determine if things get better or worse. Why? At that point we will realize just how many people were dead weight at private companies. I don't think they will have jobs anymore. The places I see open for the most part, are using far fewer people to do the same thing and get the same revenue they did before. They are just much more efficient at it.

 

[Hfcomms]

This Is Why We Are Facing A 6 Week Countdown To Immense Economic Despair...

When we started coming out of the first wave of the Covid infections and response we said that people should use the lull and see what didn't go right for them during the lockdown and during the return to normalcy [relative] use that opportunity to fill in the gaps. I've done that myself and am pretty resourceful of locating items I want but there are still a number of things in very short supply even this far away from the event and it looks like it won't get better but worse.

Anyone that coasted in neutral with the gravy check and extra unemployment and hasn't been busy during this time is going to regret it. Things are not normal whatsoever and I think Snyder is pretty close in his assessment as we can see with all the civil disturbances and disorder. This isn't all about the bad cops. If the economy was screaming and things were good there wouldn't be nearly so much tolerance for the crap that is happening.

 

[20Gauge]

This Is Why We Are Facing A 6 Week Countdown To Immense Economic Despair...

When we started coming out of the first wave of the Covid infections and response we said that people should use the lull and see what didn't go right for them during the lockdown and during the return to normalcy [relative] use that opportunity to fill in the gaps. I've done that myself and am pretty resourceful of locating items I want but there are still a number of things in very short supply even this far away from the event and it looks like it won't get better but worse.

Anyone that coasted in neutral with the gravy check and extra unemployment and hasn't been busy during this time is going to regret it. Things are not normal whatsoever and I think Snyder is pretty close in his assessment as we can see with all the civil disturbances and disorder. This isn't all about the bad cops. If the economy was screaming and things were good there wouldn't be nearly so much tolerance for the crap that is happening.

We actually did that. We realized that the lack of a larger generator was an issue. We are saving cash for that now.

This is an excellent response.... everyone should read it and do it.....Hfcomms nailed it.

 

[Blacknarwhal]

So the $600 kicker won't be extended as it is now, but will most likely come back as something else. Perhaps the $400 per week get back to work kicker. The proposal is $400 per week to anyone who gets a job.

I'm hopeful that "get back to work" kicker includes "everybody who was working through the pandemic".

 

[20Gauge]

I'm hopeful that "get back to work" kicker includes "everybody who was working through the pandemic".

Who knows. I did get the impression it did not.

 

[Blacknarwhal]

Who knows. I did get the impression it did not.

As did I, sadly.

 

[Millwright]

It looks like the commies are trying to kick off a shooting war to coincide with that timeframe.

Or is that a fig newton of my imagination?

 

[Blacknarwhal]

It looks like the commies are trying to kick off a shooting war to coincide with that timeframe.

Or is that a fig newton of my imagination?

Only way to tell is to wait six weeks and check again.

 

[Millwright]

Only way to tell is to wait six weeks and check again.

Thanks, I could have gotten that answer here...

 

[Kathy in FL]

"Instead, many are clamoring for even more “free money”, because they say that what they have gotten so far is not nearly enough."

Of course they are. Everyone likes free money, even yours truly. Virtually no one returned their $1200 (or whatever) check, saying, "I don't believe this is fiscally sound."

There are a huge number of reasons for this, but the main two are cynicism and greed. The greed angle covers almost everyone to one degree or another, but the cynicism really comes down to a jaded view of government fiscal policies. Once you get past the infantile, Marxist, "Everyone should get everything free" attitude, there are more profound reasons for cynicism.

People who do the slightest amount of research understand - and are pissed - about the government bailouts of the banks and large corporations. This leads even conservative people to being willing to accept the free money, since the big boys have been getting theirs for years. The socialists and lower classes have been screaming for generations that the system isn't fair. Now, more and more, the middle class is screaming the same thing, though for different reasons.

I agree with the author's observation that we are on the precipice of economic disaster. There are few things the government can do other than shovel out more free money. I expect this to happen, since we are on the eve of national elections. As any thinking person understands, this will ultimately devalue the currency further.

Our nearer-term future? Higher and higher rising food costs and concurrent social unrest.

Best
Doc

Most of us living in the real world never got one. I'm not knocking those around here who did. Do what you gotta. But I'm telling you that a lot fewer received that stipend than everyone thinks.

What we got was a STFU-and-live-with-it demand. I will never support Ron De Santis as governor again so the republican party better come up with another option and I'm not the only one. Most business owners have turned on him. First he put a moratorium on evictions ... but not evictions on businesses that he said couldn't open. He has extended the moratorium on execution of evictions until Jul 2 now and still hasn't responded to landlords that have explained ad nauseum that without rents coming in utility bills and maintenance bills can't be paid by most landlords/property owners.

They also failed to explain to the public that you still owe your rent and any late fees. And that an eviction can be obtained just not executed meaning it is a done deal and the day the moratorium ends you’d better have your butt gone or criminal trespass will be had on top of the civil eviction. There is a backlog of evictions duly executed and granted by the court but that haven't been executed by the sheriff's office.

Just wait until the court cases start and it is proven those being evicted received entitlements of any flavor and did not use it to pay their bills.

Idiots who used this as a free vacation are about to be dropped down a hole they will not be climbing out of. And the lefties want it that way.

Yeah I’m bitter. Paybacks are already in motion.

 

[20Gauge]

Most of us living in the real world never got one. I'm not knocking those around here who did. Do what you gotta. But I'm telling you that a lot fewer received that stipend than everyone thinks.

What we got was a STFU-and-live-with-it demand. I will never support Ron De Santis as governor again so the republican party better come up with another option and I'm not the only one. Most business owners have turned on him. First he put a moratorium on evictions ... but not evictions on businesses that he said couldn't open. He has extended the moratorium on execution of evictions until Jul 2 now and still hasn't responded to landlords that have explained ad nauseum that without rents coming in utility bills and maintenance bills can't be paid by most landlords/property owners.

They also failed to explain to the public that you still owe your rent and any late fees. And that an eviction can be obtained just not executed meaning it is a done deal and the day the moratorium ends you’d better have your butt gone or criminal trespass will be had on top of the civil eviction. There is a backlog of evictions duly executed and granted by the court but that haven't been executed by the sheriff's office.

Just wait until the court cases start and it is proven those being evicted received entitlements of any flavor and did not use it to pay their bills.

Idiots who used this as a free vacation are about to be dropped down a hole they will not be climbing out of. And the lefties want it that way.

Yeah I’m bitter. Paybacks are already in motion.

They were pretty clear here on the evictions. I have heard from a number of people who want a "new" place and they know to the minute how long they have before the sheriff comes by.

 

[bassgirl]

That 600$ extra that was suppose to go to those laid off never happened at my job. They got the 400$ but the 600$ never materialized. And is the approval for that somehow connected to the company you work for? Because one of our nurses said she was waiting for approval for it from the hospital and they wouldn't talk to her about it.

A vast majority of the OR crew and some others in offices were furloughed. As far as I know, none of them got the extra pay.

 

[bw]

Thanks, I could have gotten that answer here...

You sure are high-maintenance.

 

[Millwright]

You sure are high-maintenance.

 

[Kathy in FL]

They were pretty clear here on the evictions. I have heard from a number of people who want a "new" place and they know to the minute how long they have before the sheriff comes by.

They were “clear” to people who bothered to understand. Most evictions don’t occur due to an inability to pay but an unwillingness to budget and pay what they owe. Most landlords will work with someone if it is something temporary or let you out of a lease (sans security deposit) if it isn’t. Good business that way. But it is mostly dumb butts who try and play it out. However most people do not seem to understand that A moratorium Doesn’t mean that you don’t have to pay your rent. And then it won’t all be due when the moratorium is over with. And even then most landlords I’ve talked to already have the vection in process and they will have to pay everything they owe into the clerks office or they have no choice but to issue an evection. That also will put a judgment on their record. And again given the tight market we are currently dealing with in Florida that means that people are going to be up a creek without a paddle.

People play stupid too much for their own good.

 

[MinnesotaSmith]

IMO the Feds should have sent consumers money in the form of checks that were mostly or entirely made out to their landlords. Not doing that ensured a considerably greater f***up than it could have been.

The businesses? Their only hope (for those that could have done it) was to operate secretly with fully-known prior clients and/or in secret locations for very short periods of time. Both of these were widely done in Russia during the transition from USSR back to Russia, where taxes could be over 100% of revenue (not just profit, which would be awful enough).

 

[Murt]

if you give people "free" money and expect them to use it prudently you are going to be disappointed most of the time

 

[Dozdoats]

The truth is that the economy has already crashed, but consumers have been shielded from the effects of that crash by trillions of dollars in emergency government spending and other unprecedented measures…

It's not free. And it's not money. Its cost comes due to its quantity, which comes out of a computer keyboard, which will manifest in inflation and more. That's all there is backing it up. A keyboard. Not the "full faith and credit blah blah blah. Not gold in Fort Knox. Not even the US military any more. Oh, and the misplaced confidence of a bunch of duped people who could not be bothered to learn basic economics.

And it was a dead economy walking years ago. There is no easy fix, we will not be printing our way out of this one. Stand by to have hard times redefined for a whole new generation ....

 

[Cardinal]

That 600$ extra that was suppose to go to those laid off never happened at my job. They got the 400$ but the 600$ never materialized. And is the approval for that somehow connected to the company you work for? Because one of our nurses said she was waiting for approval for it from the hospital and they wouldn't talk to her about it.

A vast majority of the OR crew and some others in offices were furloughed. As far as I know, none of them got the extra pay.

It was primarily for Independant Contractors I believe. So if you had a job as an employee at a company that paid into the system (unemployment taxes) you didn't get the 600.

Now, Trump has an interesting plan about paying workers a higher temporary minimum wage to go back to work, but, lots of jobs are gone permanently. And they ain't comin back.
And they will try to fudge the employment numbers but truth will tell.
All those folks who can't find jobs cause there really aren't any will still be either livin in their cars or they will join the rioters.

 

[Cardinal]

The truth is that the economy has already crashed, but consumers have been shielded from the effects of that crash by trillions of dollars in emergency government spending and other unprecedented measures…

It's not free. And it's not money. Its cost comes due to its quantity, which comes out of a computer keyboard, which will manifest in inflation and more. That's all there is backing it up. A keyboard. Not the "full faith and credit blah blah blah. Not gold in Fort Knox. Not even the US military any more. Oh, and the misplaced confidence of a bunch of duped people who could not be bothered to learn basic economics.

And it was a dead economy walking years ago. There is no easy fix, we will not be printing our way out of this one. Stand by to have hard times redefined for a whole new generation ....

That inflation is comin whether they pay people with newly printed digits or not.
So they might as well pay them for a little while longer.

 

[Dozdoats]

Oh, no argument there. But if they are going to burn the FRN$ down with overheated printing presses, the dubious temporary benefits should devolve to Main Street, not Wall Street.

 

[Blacknarwhal]

Oh, no argument there. But if they are going to burn the FRN$ down with overheated printing presses, the dubious temporary benefits should devolve to Main Street, not Wall Street.

A good point, but maybe they don't want it to LOOK like they're burning down the FRN. At least, not yet.

 

[Dozdoats]

I'm about as blind as it gets and still getting around on my own, but even I can see what they are doing to the FRN$.

 

[hiwall]

The gov is going to do everything they can think of to prevent a depression. The most likely thing is to keep giving free money to individuals and businesses. No one wants to have the Greater Depression. By election time the Federal Reserve balance sheet might be $9+ trillion. The national debt will be approaching $30 trillion.
To prevent a rent fiasco and mortgage defaults would be to have another taxpayer bailout. Either a bigger one-time check or a monthly check. This would also be a big boost to retail sales.
Spend your free money wisely.

 

[kochevnik]

One of the reasons you are seeing all this BLM bullshit is that you now have a big pool of the young, angry & unemployed with LOTS of time on their hands.

I think the chaos is baked in the cake either way - the gov continues the free cheese, or the gov does not - either way you end up with a much larger pool of the young and angry with lots of time on their hands who can clearly see that the entire game is rigged and the only way to change ANYTHING is to burn it all to the ground and start all over again. Thats the whole reason you get Fourth Turnings - to press the restart button with a sledgehammer.

Most people dont know there are actually only about 500k homeless in the USA at the beginning of 2020 - if you increase that number by a magnitude or more starting in July, all hell is going to break loose because those people will flood all over the USA looking for a place to live - many of them heading for gpa and gma's place in the countryside BTW. If one percent of the people on the west side of my state ended up in my county, our population would be 250% of what it is now.

Say yes to free cheese and you put off the chaos for another year or two. Say no and you get a continual ramp up from where we are now right into a civil war within 6 to 12 months.

Like the man says, you aint seen nothin yet.

 

[Meemur]

I'm surprised by the number of "no questions asked" food pantries springing up in my area. It used to be that one had to fill out a fair amount of paperwork to use a food pantry and that was limited to once or twice a month. Now, people can go once a week, and all they are asked is how many in their household.

Full disclosure: from what I can tell, it's mainly carbs -- boxes of mac & cheese, packs of instant rice, and a few cans of msg-ladden meat. It would be easy to pack on the pounds. Still, I'm sure for someone truly in dire straits, this food would be a blessing.

 

[Meemur]

those people will flood all over the USA looking for a place to live - many of them heading for gpa and gma's place in the countryside BTW.

You might be right. I'm just not sure where some of them will get the money to travel, unless the city council quietly loads a bunch of them into a van and sends them somewhere. I whine about Iowa winters but our ice and snow keep some of the riff-raff away.

 

[Doomer Doug]

Meemur, THAT IS EXACTLY WHAT HAS BEEN DONE AND WHAT WILL BE ALLOWED TO CONTINUE. "THEY" WANT TO FLIP THE RED STATES BLUE. Get a shotgun, Meemur you will need it soon.

 

[Doomer Doug]

One of the reasons you are seeing all this BLM bullshit is that you now have a big pool of the young, angry & unemployed with LOTS of time on their hands.

I think the chaos is baked in the cake either way - the gov continues the free cheese, or the gov does not - either way you end up with a much larger pool of the young and angry with lots of time on their hands who can clearly see that the entire game is rigged and the only way to change ANYTHING is to burn it all to the ground and start all over again. Thats the whole reason you get Fourth Turnings - to press the restart button with a sledgehammer.

Most people dont know there are actually only about 500k homeless in the USA at the beginning of 2020 - if you increase that number by a magnitude or more starting in July, all hell is going to break loose because those people will flood all over the USA looking for a place to live - many of them heading for gpa and gma's place in the countryside BTW. If one percent of the people on the west side of my state ended up in my county, our population would be 250% of what it is now.

Say yes to free cheese and you put off the chaos for another year or two. Say no and you get a continual ramp up from where we are now right into a civil war within 6 to 12 months.

Like the man says, you aint seen nothin yet.

THIS!!!!!!!

 

[Sicario]

Get a shotgun, Meemur you will need it soon.

 

[tanstaafl]

I heard on June 8th that something like one-third of all unemployment claims nationwide still hadn't received their first check, possibly due to the crush of claims that have massively overwhelmed state systems. If that's true then the basic premise of the OP is fundamentally flawed.

edited to add: I can't find any story supporting the one-third claim so it may have just been talk radio BS

 

[Millwright]

That inflation is comin whether they pay people with newly printed digits or not.
So they might as well pay them for a little while longer.

At least 'til after the election.

 

[night driver]

Gotta do the canned food too.

RT:22 sec

 

[Blacknarwhal]

Fire two blasts off the balcony. It's illegal for everyone but me.

 

[Seeker22]

I am pissed about this situation on many levels.

First, I noticed that the billionaire boys club (spit) got bailed out again and the sheep got a good shearing. And nobody took to the streets to protest that.

Those that got a stipend earned it, as they have injected trillions into the markets, and bailed out everybody's dog, but we whose wealth it is and whose country it is, got the $hit end of the stick and one lousy $1200 check to buy our complacency.

So that they could wreck our cities, set us against each other, and they hope start a shooting war.

This is a Spiritual battle, and the other side is pulling out all the stops.