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kentuck

(111,499 posts)
Thu May 28, 2020, 08:53 AM May 2020

40 million unemployed in 10 weeks !

Nothing like this has ever happened in our country before.

Not even during the Great Depression.

These are very unpredictable times.

Everybody is trying to assimilate what is happening. There are no simple solutions. Nobody has the answers.

It is my opinion that the leaders of this country, especially the White House but including the US Congress, are failing the people of this country.

They are all reactive. They will wait until disaster strikes and then they will react to it. There seems to be no foresight or vision with elected leaders.

But, with 40 million unemployed, they will need money for food and shelter very soon. How long should we wait?

These are unprecedented times.

11 replies = new reply since forum marked as read
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MissB

(15,830 posts)
1. Things feel somewhat static right now
Thu May 28, 2020, 08:56 AM
May 2020

It’s going to change quickly once states lift their stays on evictions.

CottonBear

(21,604 posts)
2. Universal Basic Income plus a new WPA & CCC would be a start.
Thu May 28, 2020, 08:56 AM
May 2020

Plus, no interest loans for small businesses and expand Medicaid in all states.

kentuck

(111,499 posts)
7. It will probably become a necessity.
Thu May 28, 2020, 09:20 AM
May 2020

...to help people survive.

We will have no choice but to become a more "socialist" country.

ProudMNDemocrat

(17,337 posts)
4. Natural Disasters will make things worse,and the Trump Aministration is going to run away.
Thu May 28, 2020, 09:16 AM
May 2020

A more active Hurricane season, continued high unemployment, more dead Americans due to COVID-19, Mother Nature is not going to be kind.

Factor in record heat waves, wild fires, unpredictable weather, more print salt into an open wound.

kentuck

(111,499 posts)
9. Capitalism has evolved to the point where all the capital is centralized...
Thu May 28, 2020, 09:21 AM
May 2020

..And they trade paper amongst themselves, creating nothing.

procon

(15,805 posts)
8. This will have a snowball effect on everything.
Thu May 28, 2020, 09:20 AM
May 2020

If no one has money, there's no buying, then there's no manufacturing, which begets still more unemployment. Once this starts there's no stopping the cascade effect that will spread out and effect everyone.

The Fed is going to have to develop a universal income plan and a universal health care plan. Two impossible policies, but the only option to At least slow the rate of collapse.

Hugin

(33,623 posts)
11. That's going to put a real dent in the 401k gambling money!
Thu May 28, 2020, 09:23 AM
May 2020

Better throw Social Security in the markets to make a High Dow!

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