👉Jobless Claims And Evictions Soaring to Historical Record Highs !!

👉Jobless Claims And Evictions Soaring to Historical Record Highs !!





We have never seen anything like this in our history. Banks falter. Infrastructure crumbles. Schools closed. Retail sales are tumbling. Consumer spending plummeting. System fails. Small businesses giving up and going under for good.Especially those with high fixed overhead, restaurants, bars, gyms. It is going to take years to recover from that. Corporate America is more indebted today than ever before. And an average of one million Americans are losing their jobs every and each week. Overall, 57.3 million Americans have filed new claims for unemployment benefits over the past 22 weeks. All this while Law and Order are crumbling. Say hello to the depression. The number of people who newly lost their work and filed for initial state or federal UI in the week jumped to 1.43 million. A rate of 6 million a month. And you can add to that another 543,000 for new claims filed under a separate program for self-employed and gig workers. The real number is much higher because of PPP. Lots of workers were laid off and then recalled because of that. Now that PPP has expired. Companies will again start laying off their employees. A million new claims for unemployment is not a recovery. It is 50% higher than the highest number recorded in any single week of the 2008 recession. And it comes after five months of 1,000,000+ per week job losses. There's going to be a significant number of job losses reported in the September employment report. The Internal Revenue Service projects that millions of Jobs to Be Lost for Years. And as The federal ban on evictions expired last month. Approximately 40 million Americans are in danger of being evicted from their homes by the end of the year. Meanwhile, federal unemployment aid ended in July, and eviction protections have expired in many parts of the country. And the longer the unemployment spell lasts, the longer the financial hardship among households. The number of people unemployed for between 15 and 26 weeks grew by 4.6 million people in July, according to the Bureau of Labor Statistics. That’s a 240% increase, to a total of 6.5 million people. Temporary furloughs are turning into permanent layoffs. Thirty-eight percent of people who have lost a job or had their income reduced couldn’t last more than a month off of savings of any kind, according to a bi-monthly survey published by SimplyWise. The unemployment rate is still higher than the Great Recession peak. This is such a horrible time to be without a job. I can't imagine how people are hanging on with nothing coming in and nowhere to find a job. Millions are about to become homeless during winter. Americans are about to be in the depths of a crisis, unlike anything we’ve seen before. The homeless crisis will far surpass the devastation caused by the pandemic. All this while the big corporations get unlimited cash from The Fed. And as the banks foreclose on those evicted, the bankers will be counting their money. Bankers like to find ingenious ways to bankrupt citizens. History is replete with examples. It's like taking candies from a baby. Just Like in the first depression when the banks would take (repossess) families homes, and then often rent back the home to the same family. There is nothing natural or unseen about this. The banks create the bubbles and the busts to milk out the country until they have all the wealth. This is as our founding fathers described when they got rid of their central banking system, which we then got back in 1913. And The Nasdaq sets a fresh new intra-day record. Another magic show, as the first legalized Ponzi scheme in world history, recovers another loss. The only market in the world where profit taking is non-existent. Even the dot-com bull of 1999-2000 had a mix of down days and an occasional down week. This constant move upward in bad economic conditions is unreal and makes me nervous about what a true reversal will look like. America is not coming back. It has given way to The big banks And those with immense power that own and manipulate the world's media and messaging. Get ready and Prepare for the Mad Max, Road Warrior Scenario that is taking shape. 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, I rely 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 farther we get into 2020, the darker the reality seems to get. More than 57 million Americans have filed new claims for unemployment benefits. The unemployment rate is at its highest since the Great Depression.GDPs around the glob are plummeting. Global trade plunging by up to a third. This is the worst recession since the Great Depression, and far worse than the Global Financial Crisis. Meantime, The top 12 wealthiest billionaires have seen their combined wealth soar by 40%—or $283 billion since the pandemic. It now comes to a total of more than 1 trillion dollars. At the same time, millions of Americans are losing their jobs each passing day. More Americans are suffering from poverty and even hunger. Common sense will tell you there can't be any V-shaped recovery. People are not flying or eating in restaurants, only buying what they need. But the stocks are at an all-time high. We have never seen such a disconnect between the real economy and the stock market. On Wednesday, tech giant Apple was the first publicly-traded company to top a $2 trillion valuation. Apple is now 2% of all world stocks. And also worth 2% of all cash and deposits in the world. The stock market is now the economy. What is really going on is the system is failing to be fair and balanced. It is failing to be stable. Those who don't understand nasty history repeat it. The economic system, as the elites designed, is self-destructing. The elites will push divide and rule, red versus blue until third world collapse and chaos. At best, the status quo will kick the can down the road and bring us right back to Communism's doorstep. We worship a smoke and mirrors economy and the central bank, which props it up and pulls strings. Rejecting time and time again the opportunity for real freedom, which can only come from bypassing the Central Banking System and basing the economy on real-world production. Sadly even those who proclaim themselves as Patriots fail to identify the enemies of freedom. Allowing themselves the cheap and wrongful belief they are fighting. It's a cheap cop-out to avoid reality and get out of the inevitable hard work which must take place if any of us are to know real freedom and truth. The only way out of this coming dark age is the advancement of democracy design. A system of checks and balances to keep our government honest. Even when we succeed in electing an honest, hardworking servant of the people, they cannot overcome a government of criminals, which has only grown and become more entangled over many generations. Sadly for American corporations, this is all so true. Big money knows no loyalty to the country and countrymen. It's always about the buck. They screwed the working class over big time with hiring foreigners and moving operations overseas. But they have no problem living in big mansions on American soil and enjoying the freedoms afforded by the country. Patriotism is dead in their eyes. That is the saddest part. We are losing 1 million jobs per week since March, that's more than the Great Recession of 2008-2009 and more than the Great Depression. Bad news after bad news and this market continues rising. Bad news makes the market goes up. You can shut down the entire country and will still go up. This is a runaway train. Stocks only go up! Something is not right here. The markets are on steroids, cocaine, and fentanyl right now. That mix is called The Fed. The Fed has thrown gasoline on the stock market and doesn't care if the bystanders get burned. This has become a full-on attack against savers, landlords, and basically anyone who actually manages their finances and risk properly. It is gross mismanagement of tax dollars for the rich, and for political gain. Disastrous. A bleak outlook, as confirmed by the Fed. Irrespective of Fed-induced liquidity, I suspect that the 5-month stock rally may be topping out. Even BigTech may not be immune to the economic chill that appears to be developing. They've shoved 3.5 trillion in stimulus money (that is the equivalent of all of the tax revenue the Federal government gets in an entire year) into the economy, and it has to flow somewhere. All that funny money is flowing into stocks and real estate. Every pandemic seems to last 18-24 months, we have a critical election with the standard crappy choices, so I think chances are good they can't grow this beanstalk much taller. The fact is the economy was rolling over before the pandemic, and the Treasury couldn't sell enough bonds back in September of 2019, which prompted the central bank to turn the money printing machines back on. The Federal Open Market Committee's internal memo shows board members have discussed the early stages of stopping the bond-buying program and raising Fed Funds' target rates this winter. They have to do this if they want to maintain any semblance of being in control. Rates are going to skyrocket if they continue to dump their treasuries on the market at this insane pace. The 30 year and 20 yr auctions were disasters. If they want any chance at people buying US debt anymore, they need to engineer a big market pullback. Thirty-one million people didn't choose to leave work. The service industry is going to be in trouble for the next few years. This will have a ripple effect throughout the entire economy. Next year is going to see a foreclosure crisis worse than 2008. Once this emergency is lifted throughout all the states, expect evictions and foreclosures to explode. There will be long lines waiting to get into the courts. The irony was that the virus is impossible to stop in a country this size unless you locked down the entire country for two months and ban travel until the virus died out throughout the world. So, not only this virus ran its course, but it took the economy down with it. Today the 31 Million currently collecting Unemployment Benefits can no longer be attributed directly to state shutdowns. Because there are no active state shutdowns, there are reduced capacity limits in some areas. That said, the markets are INSANELY overpriced for a nation with a 15% unemployment rate. Once the printing press of free money stops, and it WILL STOP, the bread lines and soup lines begin. I'm not kidding. It's that bad. So much for the V-shaped economic recovery. That only applies to the stock market. That's all that mattered to the Fed. Mission accomplished. The poor will now pay the price in higher taxes and inflation. The bread lines are already a thing. The stock market is insanely high, considering just how bad the economic situation is. The market is the same place it was before this all started when unemployment was 3%, and now it's 15%. State budget deficits are exploding due to lost tax revenue, evictions and foreclosures have been artificially halted, and the backlog is enormous. The economic dam WILL BREAK. For now, it's just leaking badly, and everyone's like, "Hey, let's go visit the dam!" 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