Warnings: Dire consequences of economic downturn

https://wallstreetonparade.com/2020/07/warnings-grow-we-are-in-a-massive-economic-downturn/

 

Fed Governor Lael Brainerd warned of corporate debt failure. Long-term unemployment is rising and 4^th-quarter unemployment is projected at 10.5%.

 

“Frederick Douglass, … said: ‘Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organized conspiracy to oppress, rob and degrade them, neither persons nor property will be safe.’”

 

William Spriggs, Chief Economist of AFL-CIO:

 

“’Rather than push workers into unemployment, other industrialized nations chose to subsidize the wages of workers and keep them connected to their employers…in most other countries, worker dismissals carry costs, and so unlike in the United States, policies to help with retention are received as very cost effective. New Zealand made greatest use of this type of program, covering about two-thirds of their workers, France over half their workforce were eligible, though only about a third actually were paid and Germany and Great Britain both covered about thirty percent of their workers. Through May, France, Italy and Germany remained with their unemployment rates in single digit levels….’”

Charlie Cooper

H: 410-578-8291

M: 410-624-6095

Get Money Out – Maryland (GMOM)

 “We may have democracy, or we may have wealth concentrated in the hands of a few, but we can’t have both.” – Louis Brandeis