According to the US Bureau of Labor Statistics, back in October of 2019, prior to the arrival of Covid-19 upon American shores, the unemployment rate was 3.6 percent. Showing little or no change from the September of 2019 unemployment numbers for Whites (3.2 percent), Blacks or African Americans (5.4 percent), Asians (2.9 percent) and Hispanics or Latinos (4.1 percent), roughly 3 times that number of Americans are out of work in February of 2021 according to FED Chairman Jerome Powell.
With Powell claiming that the February 2021 unemployment rate is probably close to 10% if not much higher, those numbers are likely to explode in 2021, with roughly 9 million small businesses warning they likely won't survive through 2021, nearly 1/3 of all small businesses in America according to this recent story over at The Blaze.
Three in ten small businesses — or 9 million out of the estimated 30 million in the United States — fear they won’t survive in the coming year without additional government assistance, according to a survey recently published by the Federal Reserve.
The Small Business Credit Survey, which was conducted last September and October and released last week, showcased the incredible burden the coronavirus pandemic has placed on America’s small businesses, as 88% of the businesses surveyed reported that sales had not yet returned to pre-pandemic levels.
Can you imagine what our country would look like if almost a third of all small businesses permanently disappeared?
These are very dark times for the U.S. economy, and the outlook for the future is exceedingly bleak.
However, in the short-term economic conditions should stabilize somewhat thanks to the huge stimulus payments that the government will be sending out.
But that bubble of hope will be very brief, and everyone should be able to see that much more pain is on the horizon.
(All of) this has created extreme financial pain for America’s landlords, and when the rent moratoriums are finally lifted we are going to see the largest tsunami of evictions in all of U.S. history by a very wide margin.
With desperate Americans who can’t afford housing becoming 'Modern-Day Nomads', but not by choice, according to this new Organic Prepper story, if America stays on the same path that we're now on for the next few years, there'll be little to nothing to recognize of our country by the time these globalist politicians long working to take down our economy, people and sovereignty are done. The excerpt below comes to us from this story over at The Blaze.
Three in ten small businesses — or 9 million out of the estimated 30 million in the United States — fear they won't survive in the coming year without additional government assistance, according to a survey recently published by the Federal Reserve.
The Small Business Credit Survey, which was conducted last September and October and released last week, showcased the incredible burden the coronavirus pandemic has placed on America's small businesses, as 88% of the businesses surveyed reported that sales had not yet returned to pre-pandemic levels.
Nearly one-third of respondents reportedly told surveyors that without further financial help or a return to normal sales, their businesses would likely close for good.
Among minority-owned businesses, things were markedly worse. While in total, 57% of firms said their financial condition was "fair" or "poor," that figure shot up to 79% for Asian-owned firms, 77% for black-owned firms, and 66% for Hispanic-owned firms.
The percentage of small firms carrying debt also increased to 79% from 71% the year before, and those carrying a debt burden north of $100,000 increased from 31% to 44% in 2020. Nearly all businesses surveyed said they expected to face at least one more pandemic-related challenge over the next year. However, the two challenges most firms expected were "weak demand for products/services" and "government-mandated restrictions or closures."
And while we'll surely be called 'conspiracy theorists' for suggesting that a total collapse of America is what many Democrat/RINO/globalist politicians want and have long planned and worked towards, the evidence is everywhere, seen in the United Nations Agenda 21 and Agenda 2030 and now in 'the Great Reset' being called for by the World Economic Forum.
COVID-19 lockdowns may be gradually easing, but anxiety about the world’s social and economic prospects is only intensifying. There is good reason to worry: a sharp economic downturn has already begun, and we could be facing the worst depression since the 1930s. But, while this outcome is likely, it is not unavoidable.
To achieve a better outcome, the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a “Great Reset” of capitalism.
'Revamp all aspects of society', huh? Like enacting draconian lockdowns to force small businesses to go belly up while striking a dagger into the heart of the American worker? And when we look at exactly what kind of businesses are staying strong during the pandemic compared to what kinds of businesses are losing, we see the liquor stores and 'big pharma' businesses are exploding! From this story over at FEE.
A new paper from the National Bureau of Economic Research found important correlations between sales losses and lockdowns across counties in California.
Economists Robert W. Fairlie and Frank M. Fossen used state data from all taxable sales in California during the first two quarters of 2020, finding sales of $152 billion in Q2, which represents a drop of 17.5 percent from the same period in 2019.*
Not all businesses experienced losses, of course. Some businesses deemed “essential” saw gains, such as pharmacies, liquor stores, supermarkets, agriculture, and building material & garden equipment stores. (ANP: Liquor stores and 'big pharma' staying busy, not surprising!)
Many economic sectors were not so lucky, the authors found. Leading the way in sales losses was the accommodation sector (91 percent), followed by bars (86 percent). Entertainment venues saw sales drop 83 percent, while full-service restaurants saw a decline of 61 percent.
“Small shops selling Gifts and Souvenirs, Clothing, or Books also experienced large losses in the second quarter of 2020,” the authors concluded..
None of these results are particularly surprising. But the authors also identified something else important. Namely, they found that the decline in sales during the pandemic stemmed primarily from government lockdowns and other restrictions, not voluntary social distancing.
So with small businesses all across America taking a major hit while 'big pharma' rakes in the bucks, and now more proof emerging that these lockdowns are a huge part of what is killing the economy, what happens to America if Biden attempts to 'lock down' the entire country? As we'd warned in this February 7th ANP story, America locked down for years would see most of us dead and gone by the time the lockdown was finally lifted, allowing the Democrats 'Big Lie' to be fully implemented.
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