Quite a year:
- Socialist governments have slaughtered small businesses by the thousands, with more than 70 million new claims for unemployment benefits have been filed since the COVID pandemic first started.
- A brutal, government-mandated economic depression.
- A Federal government carrying over $27 trillion in debt.
- A OnePoll survey reports 55% of Americans consider 2020 a “personal financial disaster.”
- Among employed respondents (59% in total), seven in 10 say they need a raise at their job in order to make ends meet. Sixty-two percent plan on taking on a second job in 2021 to meet their financial goals next year.
Before the latest “stimulus” on the Congressional table, inflation was evident in food and shelter prices as the M2 rose exponentially. Injecting $900 billion more constituted an extraordinary shock.
Michael Snyder:
“In the short-term, ‘stimulus payments’ from the federal government will definitely help tens of millions of suffering Americans.
“But of course every additional dollar that our government borrows and spends just makes our long-term problems even worse.
“A national economic meltdown has begun, and our politicians will try lots of things to mitigate the damage, but all of their “solutions” will only help temporarily.
“This is going to be an exceedingly dark chapter for America, but most Americans still do not understand the true nature of the crisis that is now unfolding all around us.”
For 55 Percent Of Americans, 2020 Has Been “A Personal Financial Disaster”
Econophysics2020 