Fewer Than Half Of Working Americans Will Have A Paycheck In May

In Coronavirus Hoax Economic Devastation by Jeffrey Lee PierceLeave a Comment

The response to the coronavirus is hurting the country incalculably more than the virus itself.

That’s on purpose.

The only reason more than half of working Americans will no longer have a paycheck is because the left wanted to hurt the economy in order to damage Trump’s reelection chances, since the economy was his greatest electoral asset.

And so the coronavirus hoax was invented in order to catalyze and justify the lockdown necessary to destroy the economy.

They knew that the virus was in no way more deadly than the flu, and in fact was so much more mild than the flu in most people, that it wouldn’t even give them symptoms.

80,000 Americans were killed by the flu during the 2017-1018 winter flu season, and no one even noticed, let alone shut the country down. Coronavirus is expected to kill around 60,000 Americans, so there’s no more reason to destroy the economy, ie, people’s ability to house, feed, and clothe themselves and their children, than there is for the seasonal flu, which kills about 20-60,000 Americans every year.

There is no justification for committing economic suicide over COVID-19. It will go down as the greatest blunder in modern history.

It’s time to stop the madness, and end the house arrest and business shutdown.

Excerpted From Business Insider: The millions of Americans who have lost their jobs in recent weeks due to the coronavirus pandemic will have a devastating effects on the economy going forward as workers are left without pay.

Losses in April alone could push the unemployment rate to 16%, according to James Knightley, chief international economist at ING. If another 10 million Americans file jobless claims in May, that would push the unemployment rate to 22%, he said.

“Thankfully this is below the 24.9% peak experienced in 1933, but we have to remember that one third of Americans aged 18-65 are not classified as employed or unemployed – they are students, early retirement, homemakers, carers or sick,” Knightly wrote in a Thursday note.

“This leads us to yet another sobering statistic – that less than half of working age Americans will be earning a wage next month,” he said.

The estimate comes amid a huge spike in unemployment claims driven by the coronavirus pandemic. In the past five weeks, 26 million Americans have filed for unemployment insurance, a staggering record-breaking number that’s quickly dwarfed job losses seen in the Great Recession.

The effects of job losses to the broader economy could be devastating, as consumer spending makes up 70% of US gross domestic product, which is set to fall as much as 40% in the second quarter.

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