This is a Recession like no Other

This is a Recession like no Other







Among the business categories, retail stores had the highest number of total closures of more than 27,000. Restaurants had an exceptionally high share of permanent closures, with 53% of the closed restaurants saying they won't reopen, according to Yelp. 41% of businesses have shut down for good during the coronavirus pandemic. As of June 15, 140,000 businesses listed on the Yelp review site remained closed. By far, retail shopping was hit the hardest. 1 in 4 restaurants won’t reopen after the pandemic. Businesses with fixed costs and low margins lose money even with small dips in revenue. That's why the smarter ones have already closed down. Many others will be forced to when the math becomes clearer. Paradoxically all of these happened because we reopened too early. This story breaks my heart because small business owners are the backbone of this country. It shows how things are getting worse. Real Estate is a great economic indicator. 50% drop in sales. It keeps getting worse and worse on business. All my fellow business friends are in deep trouble going forward. Most are wiped out. Most are hoping for another PPP style grant. There will be no returning from this for so many. It's devastating. They'll throw them a universal basic slave income, inside a social system slave score, as long as they do as they're told. Oh, isn't the future looking so prosperous and magical? The concentration of the economy. Destruction of the currency end of the middle class. This should free up more people to riot, loot, and burn buildings down. Its a growth industry. Plus, it is really bullish for the market. Once we settle into an actual depression, the Fed will buy stocks and buy everything in sight. And then they put everyone on guaranteed monthly incomes. People can sit at home, get fat, and buy crap online since the only company left will be Amazon. You may now be able to fully put 1+1 together as to why 1.5 million people filed for unemployment this week. We are immersed in the Second Great Depression, where 1 million job losses will happen weekly into the known future. And we are about to see what happens when two of the most incompetent leaders in the history of the country go head-2-head in the last legitimate election in American history. We are at the start of a great generational depression. Commercial and residential real estate is collapsing as are other big-ticket purchases. When the debt markets collapse from complete absurdity- how many trillions of fiat creation will it take before no one wants them? It's a bad time to live in urban areas. My advice is to prep for winter and moves out. Be smart. Stack cash, stay out of debt, invest wisely, diversify. Patronize your local small business owners every chance you get. Farm Land far away from a major city, livestock, garden, freshwater, guns, ammo, more ammo, likewise neighbors. The cities are done, and the only way they will be able to limp forward is by raping the productive class to try and spread the pillage between the parasite lazy pigs and the parasite government workers. There will not be enough money, and the fight over the scraps will be violent. Only an idiot can't see what is coming in the big cities, and it is not unlike Mad Max. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, google has demonetized this channel, so now I rely totally on your donations to keep this channel functional, as you know it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. The cost to service our debt was more than half the GDP for the first time in history. And that was before the current round of money printing. Since we have had a 46% drop in GDP from last year. Now, somewhere around 100% of our GDP (or more) is going to service debt. This will be a ten-year global depression. Deutsche Bank was collapsing last year; they hid the trillions of unfunded liabilities. This did NOT start last September with QE and the FED protecting the counterparty risks. This virus is a perfect cover-up for the GREAT RESET. Next is all digital currency's say bye-bye to paper. It is all about creating a giant shitshow, like tossing a smoke grenade into a crowded room in order to cover their escape. That is what all this is about. Thousands of filthy rich thieving bastards making one last heist and fogging the place up for a perfect getaway. The left is just the most retarded for falling for it so hard, but the right has fallen for it too just not quite so pathetically. The economic Ponzi scheme's final collapse was September 2019 everything since then has been nothing but attempts to distract us from that and kicking that can just a few more times. It's done. stick a fork in it You don't spend like drunken sailors for 4-5 decades (governments, corporations, and individuals), with the Fed rigging things as best they can to hide the real problem of the Western world exporting their own jobs to people that make essentially zero in other nations. Which makes Western buyers feel good because things are a few cents cheaper.And giving astounding school loans for degrees that are worthless, which gives rise to the large uselessness of "staying connected," which has stolen mindshare as to real creativity and real work and allowing the erosion of public education to the point many openly disdain real education - without having to pay for it. But at some point, there is a price for these decades of laziness and misguided action. So with nothing big in people's lives, never feeling a part of something useful and worthy, the least creative and least capable are only able to follow the "it's someone else fault" meme and riot. The final genuflect to the "can't do" attitude. The future is here. Bill is past due and the world's insolvent. Fed is flooding the world with liquidity to mitigate systemic failure. Debt payments of all sorts are being temporarily suspended to prevent the underlying debt from being declared no good and becoming a liability. We have already passed the point where the problem of servicing the national debt can be solved without violating the principles of a free economy. That is to say, for example, through a non-debilitating level of taxation rather than a confiscatory capital levee. Our economy will be forced into an increasingly totalitarian mold, and the freedoms which we are presumably arming to defend will be lost. Financial repression and inflation will lead to the same result. However, this will sustain asset prices. Yet the key element of inflation people forget is that your cost of living goes up faster than your assets go up. It is very hard to believe today that food, rent, Insurance could one day go up faster than your income. Well, that's Inflation. Both income and prices go up a lot! But you'll always be behind. The FED and other centralized banks murdered the free market. Yes, and there is nothing you can do about it. They crapped on rules, hell. They crapped on everything and you and me. They won't let the economy regulate itself. The times of a free market are dead since 2008, but no one talks about that. The media doesn't cover it in the slightest bit. The only shit that will happen is like it happened before. In 2 or 3 years from now, another Hollywood blockbuster, like the big short, will try to explain to the greater public what just happened to the world and how stupid regular people are. 2008 We entered a dictatorship, its dictated that the markets know only one direction, it is UP! We lost a right, and that revoke strikes twice since you and I and everyone with a rational mind know the market should correct in a big matter, and that includes us to make money with the tools we have. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics