Author at The Economic Collapse Many of the emergency economic measures that were put into place to support custodia cover huawei p10 lite the American people financially throughout custodia iphone 7 ops this pandemic are about to disappear, and that means that big trouble is on the horizon. Right now, we are in the midst of the deepest economic downturn since the Great Depression of the 1930s. Economic activity has fallen dramatically, more than 100,000 businesses have permanently closed, and more than 44 million Americans have lost a job so far in 2020. But up to this point most Americans are not cover samsung tab e t560 feeling too iphone cover underwater much economic pain thanks to unprecedented intervention by the federal government. Unfortunately, that short term boost of artificial relief is about to wear off, cover samsung galaxy note 3 neo personalizzate and that is going to cause some major problems as we approach the end of this calendar year. Earlier today, two sentences froma Buzzfeed articleabout the extreme economic despair that is ahead of us really got my attention US economy right now is like a jumbo jet that’s in a steady glide after both its engines flamed out. In about six weeks, it will likely crash into the side custodia cover huawei y5 2018 of a mountain. I think that is a perfect description of what we are facing, j7 2016 cover samsung except that I would replace economy with consumers truth is that the economy has already crashed, but consumers have been shielded from the effects of that crash by trillions of dollars in cover iphone 6 grigia emergency government spending and other unprecedented measures kept us in the air so far is an extraordinary government relief effort. Banks were ordered to cover samsung galaxy j1 2015 give their customers asix month breakon mortgage payments if requested. Most importantly, and counterintuitively, household income sharply increased in April as hundreds of billions of dollars in lost wages were replaced by trillions in government spending. The government sent out more than 159 million stimulus payments of up to $1,200 per adult (more if you have kids), and more than20 million unemployedpeople became eligible for an extra $600 a week in federal unemployment benefits. The result, according to Bloomberg, custodia cover iphone x xs was thelargest monthly increase in household incomeever recorded. https://www.loiregrafix.fr/products/coque-samsung-j5-mandala-pascher-jil2238 history, and this has allowed most Americans to get through the past few months without too much of a problem. custodia iphone 6s spigen In fact, many unemployed workers have been bringing home more money than they did when they were actually working. But on July 31st (about 6 weeks from now) that is all going to change. The $600 unemployment bonuses are scheduled to end on cover samsung galaxi core plus that date, and President Trump and Republican leaders in Congress have made it clear that they have no intention of extending them. In addition, it looks like there will be no more direct checks from the government for ordinary Americans even if another bill is passed. https://www.loiregrafix.fr/products/coque-samsung-fame-lite-bln7931 So tens of millions of Americans will soon be facing a future in which they are bringing in very little income. In addition, the various bans on evictions around the country will soon be coming to cover per iphone 5 bianco an end, as will the grace periods for mortgage payments. Without enough income flip cover samsung s5 mini coming in, a cover iphone 6 plus adidas lot of Americans will soon be losing their homes, and this will likely really start ramping up as we head into the holiday season. On top of everything else, the grace period on federal student loans will come to an endat the beginning of October. Basically, all of the economic pain that had been deferred will come rushing back with a vengeance over the next several months. Of course Congress could delay things a cover samsung a3 2015 legno bit more by borrowing and spending trillions of more dollars that we simply do not have, but cover samsung j5 2016 as roma all of the reckless spending that they cover samsung s8 marmo have done alreadyhas put us in very perilous territory are now whooshing by at a breath taking pace. The US gross national debt the total of all Treasury securities outstanding jumped by $1 trillion over custodia cover samsung j3 the pastfive weeks, from May 4 through June 8, and by $2.5 trillion for the 11 weeks since March 23. https://www.loiregrafix.fr/products/coque-samsung-s8-plus-silicone-pascher-jil4570 The total US national debt outstanding has reached $26 trillion, according to the Treasury Department. national debt to reach one trillion dollars, and now we have added that same amount to the debt in just five weeks. Our elected officials are absolutely destroying our future, but most Americans custodia cover samsung s6 edge don seem too alarmed by this. Instead, many are clamoring for even more money because they say that what they have gotten so far is not nearly enough. Of course the federal spending that has already taken place has not exactly had the desired effect. Americans were supposed to take the money they were receiving and spend it. https://www.loiregrafix.fr/products/coque-samsung-galaxy-2-grand-pascher-jil4195 Reducing spending:During these turbulent times, 59% of Americans have cut their budgets so they aren spending as much money as they did pre pandemic. Re evaluating their priorities:48% of those surveyed indicate they are prioritizing living expenses, while 30% of respondents indicate their top priority is consumables, including food and drink. No matter how much money Congress showers on the American people, they aren going to be able to eliminate the overwhelming fear that COVID 19 has created. https://www.loiregrafix.fr/products/coque-samsung-a40-personnalise-bln9843 For the foreseeable future, a large portion of the population is simply not going to resume their normal economic patterns because they are scared of the virus. https://www.loiregrafix.fr/products/coque-samsung-galaxy-s5-mini-portugal-pascher-jil2337 And in many of our large cities, rioting, looting and violence has depressed economic activity even further. A major economic downturn is here, and it looks like it is going to be very, very deep.