TOMORROW IS GOING TO BE UGLY!
Last week a record 3.3 million Americans shattered the record and filed for unemployment benefits.
On Thursday that number is expected to SMASH ALL RECORDS!
USA Today reported:
The layoffs are only getting uglier.
If you thought last week’s gauge of U.S. layoffs was ugly, brace yourself for an even more brutal tally Thursday as the economic damage wrought by the coronavirus pandemic mounts.
Economists surveyed by Bloomberg estimate a Labor Department report Thursday morning will show 3.5 million Americans filed initial applications for unemployment insurance last week, up from the record 3.3 million who sought benefits the prior week.
Some economists expect a far bigger total. Nomura forecasts 4.1 million; Morgan Stanley, 4.5 million; and Bank of America, 5.5 million. Such first-time jobless claims represent the best measure of layoffs across the country.
President Trump is currently taking economic advice from doctors who predicted 2.2 million deaths two weeks ago and are predicting 100,000 to 200,000 deaths from the virus today. Their track record is not good to say the least.
In the meantime their destructive advice has obliterated the US economy.
As Brazilian President Jair Bolsonaro said, “If the remedy is too much the side effect will be much more disastrous.”
Bolsonaro refuses to shut down the Brazilian economy.
President Trump needs to reassess.
Open the economy — lock down those at risk.
