👉Tsunami of Job Losses - Aviation Job Losses to approach Half-Million by Year’s End !!

👉Tsunami of Job Losses - Aviation Job Losses to approach Half-Million by Year’s End !! Aviation job losses could approach a half a million by year’s end More unemployed, lower GDP, larger trade deficit, higher budget deficit. Millions of Americans have been waiting for Congress to pass another stimulus package that would deliver them financial relief during one of the steepest downturns in history. They’re still waiting. Two critical unemployment programs are set to expire at the end of the year, basically leaving millions of Americans vulnerable to eviction and hunger. And with temporary layoffs turning permanent and career paths derailed, a new second wave could short-circuit an economic recovery that has already lost momentum. The economy is still in free-fall, supported only by people spending their last dimes to stay in houses, feed children, and stay warm. There was NO recovery; we're just as effed as we were when this started - if not more. Our nation is about to see a crash, as poverty leads to desperation and crime. Fifty-four million Americans with food insecurity, this much pain is a spark for revolution. It's hard to have an economy based on consumption when the consumers can't afford to consume. And when Governor's lockdown their states, restrict restaurant capacity to 25%, it's hard to consume when the government doesn't allow it. The longer we go, the more people Zoom, the slower business travel, is going to come back. The airline industry's bloodbath triggered by the pandemic continues. Nine million jobs at risk amid US travel and tourism bust. U.S. airlines are preparing to lay off tens of thousands of workers. Ninety thousand airline jobs are set to disappear by year-end. And another 100,000 jobs at risk. Raytheon to cut more than 15,000 jobs amid airline slowdown. Virgin Airlines announces more job cuts after securing a $1.6 billion rescue deal. United Airlines to cut 16,370 jobs once federal support expires. The US airlines expect daily cash burn to continue through the first quarter of 2021. The situation is extremely dire, with daily cash burn at $180 Million. According to the International Air Transport Association, the job losses in related industries, including aircraft manufacturers, engine makers, airports, and travel agencies, could reach 25 million. The hotels and restaurants sector in America sees 7.5 jobs lost for every job lost in aviation. Boeing and Airbus are cutting more than 30,000 positions. For years, airline business was booming - fuel was cheap, and the airlines stuffed people into ever-shrinking spaces, all the while charging for checked bags, food - and now even carry on bags and choosing your seat!! But as soon as there's a bump in the road, the airlines are the first ones in line asking for government handouts and talking layoffs. Pilots who once were in short supply are now losing their jobs. Aviation job losses could approach half a million in America by year’s end, a report says. US economy is already in the toilet bowl; this might just be enough to flush it down the sewer. 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 click the like button. As many of you have asked me about where they can buy silver and gold bullion. You will find in the description box the links where you can buy American Silver Eagle, Silver Bars, and Rounds. I highly recommend that you too, start stacking some Silver Bullion for the future. There are an estimated 30 to 40 million unemployed/underemployed at present. As many as 40 million people who rent are facing eviction, and I have yet to see anyone even address the issue of how many homeowners are either in arrears or about to be in arrears with their mortgage payment. Whole segments of our economy ; like airlines, amusement parks, entertainment, bars and restaurants, etc... are operating at a fraction of capacity and will continue to do so, so long it is not relatively safe to begin returning to normal. The question is, how many months/quarters will that take? 2021 is going to be a very long and rough slog. And still no clue on how to fix the economy once this pandemic is completed....other than annual stimulus packages. The stock market is up. But, it has become detached from reality. When reality does set in, it will be a blood bath. Shortly the wealthy and their corporate entities will be taking their profits out and cutting overhead, which means cutting employees. This Economy is in deep trouble. So get ready America, the Depression is going to get worse. 709,000 Americans filed for first-time unemployment benefits last week, better than the expected 731,000. Continuing claims fell.... well well well..... it’s because UI ran out. The number of people drawing unemployment benefits is not the same as the number of people who are considered unemployed by the Bureau of Labor Statistics. The BLS figure is even higher. And I'll note that people who are independent contractors or receive income from royalties, no matter how small, aren't eligible for unemployment. Unemployment figures do not take account of people not receiving unemployment benefits as they all fall into oblivion. The number of unemployed is the same number under unemployment benefits. Over 20 million Americans remain on jobless benefits. Over 14 million collecting disability. It’s just a matter of time before America reaches full unemployment. Twenty million on some form of unemployment and a 6.9% unemployment rate translates to a workforce of 290 million. Clearly, that’s not right. So, dare I say, the 6.9% unemployment rate from last month is BS. Questions remain about the integrity of the data. Many economists question the official unemployment rate because several million people have dropped out of the labor force and are no longer being counted as unemployed. The size of the labor force is about 3.5 million smaller now compared to a year ago. The U6 rate, a broader measure of unemployment, was 12.1% in October. There's no way unemployment is only 7%, based on how much unemployment there still is in hospitality and other service industries hard hit. And that's not even considering all of the small businesses that closed permanently. How can we lose over 40 million jobs, gain a million a month, and be back at less than 10% unemployment? MAKES NO SENSE. After a set time, people get kicked off unemployment. In some states, it's as little as 17 weeks. When they're off unemployment, they don't get counted as unemployed on some stats. Even if airlines (passenger one) recover by mid 2021, there still won't be an expansion for at least another year or two. No shiny new planes for airlines as they are trying to use up existing assets as much as possible to recoup their current loss. Raytheon will be around thanks to the military-industrial complex (no, don't think for a minute that Biden will reduce that, just too much money and jobs involved), but similar to Boeing, its civilian sector will be a mess for a while. Business travel is already 99% dead and which accounts for as much as 75% of airline profits. Clients not taking in-person meetings, conventions are non-existent... personal travel to see family, special events, concerts, a sporting event not happening...flying is not the problem in itself - it's the lack of destination. International lockdowns and quarantines are choking out the long haul flights. The only market that is alive is sunbelt/Snowbelt getaway routes...bargain-hunting leisure travelers feeding crumbs to starving airlines. It's gonna be a long winter for the travel industry. It's very difficult to change habits when people learn to do without something. People haven't been traveling for a little less than a year now. I don't see that changing even with a vaccine. Business travel is the only way airlines make money. Shuttling the tourists to vacation attractions in the coach is a money pit. Airlines make banks in business and first-class. Companies have learned to do many of the same functions virtually, and their bottom line is much better because of it. Don't expect that to change going forward. And here come the industry welfare gibbme dats.... Airlines will all get bailouts. Airline CEOs will all get bonuses. UBI for everyone!! And we will get to pay for it. MMT baby. The end is nigh. Money for everyone. PRINT BABY PRINT! The deficit for October hit $284 billion....supposedly the economy is recovering? A double-dip( last seen in the early 80s) would send a message to the sheep, just how much damage this pandemic has done to the economy. Don't think you can weather the storm. You won't. If you are losing a job or a business, better have a word with your Mayor or Governor tomorrow. Right now, they do not give an F about you. All the stock prognosticators on tv and online are so happy that Biden does not have control of the Senate and thus can't raise taxes. Gee, that's just great at least two more years of deficit spending with no additional tax revenues coming in. That's the way I think you should all plan your family budget too. Reckless attitudes so that stocks will go up while the red ink makes it more likely that the dollar is going to become worthless. All these people see is their brokerage accounts going up. Do you think they care about the 50% of Americans that basically have meaningless or no stock investment? Get a clue; all of you are being sold down the river of despair. Corporate America doesn't need you anymore. Look at the stock market. The working class could drop dead, and it would still go up. So the government will give you handouts and free prescription painkillers and maybe a free pistol with a box of ammo so you can end it all. Now that the virus is coming back, another $3 trillion will be needed. They are printing dollars funneled to themselves and hoping the rest of us don't last long. This is the new America. The have it alls and the soon to be extinct. Retail industry - replaced by Amazon and automation. Fast food - replaced by automation. Medical - replaced by computers and automation. Truck Drivers - replaced by Automation (self-driving vehicles). Manufacturing - replaced by China and automation. They know you are jobless and broke. That's why they are printing money to keep the rich afloat while they starve you out. You have been deemed a useless eater. Why do we need Jobs when we can print wealth to distribute to them? The lockdown isn't going to be six weeks. It might be six months. All part of The Great Reset. You have to destroy everything for it to work, and I mean EVERYTHING, elections, finances, businesses (more lockdowns coming), medical, borders and the constitution and more, all of it is being destroyed right before your very eyes,the question is, what are YOU going to do about it? 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 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