Coronavirus In The United States

What Is America Going To Look Like With Tens Of Millions Of Unemployed Workers?

In all of U.S. history, we have never seen a spike in unemployment like we are witnessing right now.  Last Thursday it was announced that more than 3.2 million Americans had filed new claims for unemployment benefits during the previous week, and many believe that the number that will be announced this Thursday will be even larger.  By the way, the previous all-time record for a single week was just 695,000.  So what is happening right now is absolutely nuts.  49 percent of U.S. companies anticipate conducting layoffs within the next 3 months, and the St. Louis Fed is projecting that the unemployment rate in this country will soon rise to 32 percent.  Before the coronavirus pandemic started shutting virtually everything down, approximately 158 million Americans were employed, and so we could soon have tens of millions of unemployed workers on our hands if the St. Louis Fed’s projection is accurate.

How are we possibly going to take care of them all?

To call this a “tsunami of unemployment” would be a massive understatement.  According to California Governor Gavin Newsom, more than 1.6 million residents of his state have filed for unemployment in recent weeks…

It took the coronavirus pandemic less than a month to triple California’s unemployment rolls and plunge the state’s economy into a tailspin comparable to the Great Recession.

Gov. Gavin Newsom, in his daily update on the fight against COVID-19 on Tuesday, said “well over 1.6 million Californians” have filed for unemployment. A record 150,000 Californians filed claims Monday alone, he said.

Over on the east coast, New York Governor Andrew Cuomo is claiming that there are times when “hundreds of thousands of people” are trying to access his state’s unemployment website simultaneously…

New Yorkers are struggling to file claims for unemployment benefits, as applications have inundated the state’s Department of Labor. At a news conference Tuesday, Gov. Andrew Cuomo, a Democrat, acknowledged the state is having problems processing claims.

“I apologize for the pain—it must be infuriating to deal with,” he said. “The site is so deluged that it keeps crashing because you literally have hundreds of thousands of people at any time trying to get on the site.”

It is hard to imagine things “getting back to normal” in New York any time for the foreseeable future.  The number of cases in the state continues to explode, and this is starting to really affect even basic social services.  For example, more than 15 percent of all police officers in New York City “were out sick on Tuesday”…

The novel coronavirus outbreak in New York City has taken a major toll on workers in health care, mass transit, and public safety, including the New York City Police Department.

The department reported on Tuesday that 1,048 uniformed members and 145 civilian employees have tested positive for the coronavirus. More than 5,600 officers (about 15.6% of its uniformed workforce) were out sick on Tuesday—more cops than serve in the entire Houston Police Department.

And the death toll is rising so rapidly in New York City that they are actually using a forklift to lift dead bodies into refrigerated trucks…

On Tuesday, a forklift was used to help lift dead bodies onto a refrigerated truck outside the Brooklyn Hospital Center. The COVID-19 death toll in the city is 1,139 and 47,439 confirmed cases and hospitals have been using bed sheets to wrap bodies because they no longer have body bags.

There is no way that America is going to “open for business again” as long as this virus continues to spread so rapidly.

The total death toll in the United States just crossed the 5,000 mark, and President Trump says that it could go as high as 240,000.  So it looks like we may have a long way to go before this pandemic is finally behind us.

Meanwhile, more Americans are losing their jobs with each passing day.  In fact, a brand new survey just discovered that 28 percent of Americans have already “lost wages or other personal income” during this crisis…

More than a quarter of Americans say they’ve already lost wages as the economic fallout from the coronavirus pandemic broadens, according to a new Grinnell College poll released Wednesday.

Twenty-eight percent of those surveyed said they’d already “lost wages or other personal income.” Another 16 percent said they were laid off or furloughed from work, and an additional 28 percent said they lost what they considered a “substantial amount” from a retirement account.

Without a doubt, the number that we are going to get from the Labor Department on Thursday is going to be bad.

Could it be even worse than the number that we saw last week?  Apparently that is what quite a few of the “experts” are anticipating…

Economists surveyed by Bloomberg estimate a Labor Department report Thursday morning will show 3.5 million Americans filed initial applications for unemployment insurance last week, up from the record 3.3 million who sought benefits the prior week.

Some economists expect a far bigger total. Nomura forecasts 4.1 million; Morgan Stanley, 4.5 million; and Bank of America, 5.5 million. Such first-time jobless claims represent the best measure of layoffs across the country.

And it appears that we could keep getting more bad numbers for many weeks to come as vast portions of the country remain shut down.

At this point, some of our biggest corporations are bracing for a very, very long pause in operations.  This week, we learned that Ford has decided to keep their North American factories closed indefinitely…

With what are sure to be ugly March sales numbers looming, Ford has now decided it is cancelling plans to re-start production in the U.S. and Mexico over the next two weeks. 

Citing risks associated with the coronavirus, the automaker has said the the suspension is “indefinite” and has not set a timeline to bring its facilities back online, according to Bloomberg. The company is currently working with the UAW to establish new guidelines for safety procedures before re-opening.

Of course someday those factories will come back to life, and someday the entire country will try to resume normal activities.

But when that happens, it is likely that we could see another new wave of coronavirus cases.  Just look at what is happening over in China.  For a while they have been claiming to have the virus under control, but this week they had to put an entire county in lockdown mode…

A Chinese county that was largely unscathed by the novel COVID-19 coronavirus went into lockdown Wednesday, signaling fears of a possible second wave in the country where the virus originated, The South China Morning Post reports.

The county of Jia in Henan province, home to 600,000 people, is now in lockdown after infections reportedly spread at a local hospital. There were previously only 12 confirmed cases in Henan, despite it being situated just north of Hubei province, where China’s epicenter, Wuhan, is located. However, U.S. intelligence reportedly believes China under-reported the actual number of cases.

Officials all over the world are going to be balancing the need to protect life with the need to resume economic activity for a long time to come.

But even if every “shelter-in-place” order was immediately lifted all across America, a large portion of the population would still be deathly afraid of the coronavirus and economic activity would still be greatly depressed from previous levels.

Everyone needs to understand that the unsustainable debt-fueled prosperity that we were enjoying is not coming back, and our day of reckoning has finally arrived.

The “everything bubble” has finally burst, and Egon von Greyerz is warning that we are heading straight into “a collapse”…

I have for years warned about the enormous risks in the financial system that inevitably would lead to a collapse. As the bubble continued to grow for over ten years since the 2006-9 crisis, very few understood that the last crisis was just a rehearsal with none of the underlying problems resolved. By printing and lending $140 trillion since 2006, the problem and risks weren’t just kicked down the road but made exponentially greater.

So here we are in the spring of 2020 with debts, unfunded liabilities and derivatives of around $2.5 quadrillion. This is a sum that is impossible to fathom but if we say that it is almost 30x global GDP, it gives us an idea what the world and central banks will have to grapple with in the next few years.

All of the dominoes are going to be falling, and we are going to see financial chaos like we have never seen before.

We could have avoided this scenario if we had learned our lessons from the last financial crisis and had fundamentally rebuilt our financial system from the ground up using sound economic principles.

But instead our authorities simply inflated all of the bubbles far larger than before, and now we will all have to live with the consequences.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

As The U.S. Economy Collapses, Authorities Warn That The Unthinkable May Soon Become Reality

With each passing day, it seems like the forecasts for the rest of 2020 are just getting worse.  Initially, most of the “economic experts” on television were warning that the coronavirus pandemic may push our country into a recession, but now we are being warned that we could soon see economic numbers that we haven’t seen since the Great Depression of the 1930s.  And initially we were told that the death toll in the United States would probably not be that high, but now that the death toll has already surpassed the number of Americans that died on 9/11 the message has changed.  At this point, our national officials are warning us that up to 240,000 Americans could die “by the end of the year”…

Members of President Donald Trump’s administration laid out dire estimates Tuesday to underscore the potential impact of the coronavirus pandemic in the United States, a grim prediction they said was at the center of the president’s decision to extend strict social distancing guidelines through the end of April.

Federal public health officials said that between 100,000 and 240,000 could succumb to the virus by the end of the year – making it one of the nation’s worst public health crises – said Deborah Birx, the White House coronavirus response coordinator.

As I write this article, the U.S. death toll is closing in on the 4,000 mark.

That means that the number of dead bodies in the U.S. could get almost 60 times higher by the end of 2020.

If that projection is anywhere close to accurate, do you think that there is any possibility that America will “reopen for business” any time soon?

This is a national crisis unlike anything that any of us have ever experienced before, and we all need to work together to try to defeat this virus.

Fortunately, our national health authorities are finally realizing that if everyone was wearing masks that it may greatly reduce the spread of COVID-19.  On Tuesday, Dr. Anthony Fauci revealed that the coronavirus task force is “seriously considering” asking all Americans to wear masks when they are out in public…

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, revealed on Tuesday that the White House coronavirus task force is seriously considering guidance that Americans wear masks to help thwart the rapid spread of COVID-19.

But the country’s top infectious disease expert also acknowledged that such a directive has been complicated by the nationwide dearth of personal protective equipment.

Of course this would represent a 100 percent reversal from earlier this year when our national health leaders and the mainstream media were openly discouraging everyone from wearing masks.

If everyone would have been wearing masks from the beginning, we could have saved a lot of lives, but at least they are finally realizing their mistake.

Yes, having everyone wear a mask would raise the level of fear among the general public, but it would also be a big step in getting this pandemic under control.

Every day we hesitate, the longer this pandemic is likely to persist, and one of China’s top health officials says that the fact that we have waited this long to make a move is a “big mistake”…

A prominent public health leader in China also argues for widespread use of masks in public. The director general of the Chinese Center for Disease Control and Prevention, George Gao, told Science that the U.S. and Europe are making a “big mistake” with people not wearing masks during this pandemic. Specifically, he said, mask use helps tamp down the risk presented by people who may be infected but aren’t yet showing symptoms.

If those people wear masks, “it can prevent droplets that carry the virus from escaping and infecting others,” Gao told Science.

Without a doubt, wearing masks is inconvenient and they look awkward.

But if everyone is doing it nobody will stand out, and as President Trump has noted, it will hopefully only be “for a short period of time”…

“We are not going to be wearing masks forever, but it could be for a short period of time after we get back into gear. I could see something like that happening for a period of time,” President Trump said during Monday’s White House briefing.

A couple of months ago, it would have been crazy to suggest that most people in America would be wearing masks by the middle of 2020 because of a horrible pandemic, but now we are on the verge of that actually happening.

Of course the big problem with asking everyone to wear masks is that we still have a national shortage.  The following comes from Tucker Carlson…

From the beginning of the Chinese coronavirus epidemic, mask shortages have been a major problem. Some people hoarded hundreds or thousands of them. Manufacturers couldn’t keep up.

In some cases, apparently, they were sent overseas. The foreign countries who we outsourced our factories to prudently decided to keep the masks for themselves. Nationalism is real in a crisis. And of course, here in the United States, our own government didn’t have nearly enough mass stockpiled to cope with what has happened.

And even though this mask shortage has now been glaringly apparent for many weeks, the problem still has not been fixed.

In fact, mask shortages are still being reported all over the nation…

But there is still a big concern about mask shortages in the United States. A survey released Friday from the U.S. Conference of Mayors finds that about 92% of 213 cities did not have an adequate supply of face masks for first responders and medical personnel.

At this point, experts emphasize that the general public needs to leave the supply of N95 medical masks to health care workers who are at risk every day when they go to work.

Meanwhile, the U.S. economy continues to collapse at a speed that is absolutely breathtaking.

U.S. stocks just closed out their worst first quarter ever.  During the months of January, February and March, an all-time record 19.6 trillion dollars of stock market wealth was wiped out, and many believe that the worst is still yet to come.

Currently, approximately 75 percent of the country is under some sort of a “shelter-in-place order” and this has brought economic activity to a crashing halt.  The following is how CNN is describing the current state of the U.S. economy…

The economy is cratering deeper than we have seen in our lifetimes. Layoffs are coming so quickly, the state unemployment offices can’t keep up. Banks are flooded with calls about upcoming mortgage and loan payments. Downtowns are deserted, malls are closed, bars are empty, and airplanes are grounded.

When even CNN starts sounding like The Economic Collapse Blog, then you know that things have gotten really, really bad.

All Across America, retailers are boarding up stores, and Bloomberg is reporting that some areas of the nation are seeing a “barter economy” start to emerge…

Barter, the trade system prevalent in the Middle Ages, is back in the time of coronavirus pandemic, with a modern twist. Social networks Facebook and Nextdoor are flooded with posts from neighbors and friends seeking to swap eggs for toilet paper. Small and midsized businesses, whose cash trade has dried up from the economic fallout of shelter-in-place orders, are turning to online barter exchanges.

It is crazy how much things have changed in just a matter of weeks.

At the beginning of the year the mainstream media was full of reports about how well the economy was doing, but now Goldman Sachs is projecting that the U.S. economy will shrink at an annualized rate of 34 percent in the second quarter…

Goldman Sachs Group Inc. expects the U.S. economy to experience a far deeper slump than previously anticipated as the coronavirus pandemic hammers businesses, causing a wave of mass unemployment.

The world’s largest economy will shrink an annualized 34% in the second quarter, compared with an earlier estimate of 24%, economists led by Jan Hatzius wrote in a report. Unemployment will soar to 15% by mid-year, up from a previous forecast of 9%, they wrote.

Of course many industries will see a decline far greater than 34 percent during the second quarter.

At this point, we are being told that there are “basically no U.S. auto sales right now”…

The coronavirus lockdowns across the nation will also put a damper on April, which is traditionally a good month for auto sales. Ford is all but shutting down and names like Fiat and GM are expected to release extremely weak numbers later this week.

Morgan Stanley analyst Adam Jonas put it simply: “There are basically no U.S. auto sales right now. Investors have fully embraced the reality that the U.S. auto industry may be shut down for one or two full months. We’re now being asked to run scenarios of six-month or nine-month shutdowns.”

Have you seen the new car commercials where they are promising to take care of your car payments if you lose your job because of the coronavirus?

Well, I hope that they have really big pockets, because millions of Americans are losing their jobs right now.

And just like we have seen during every other economic downturn, some Americans will respond to economic misfortune by taking their own lives…

Wilson police say a man shot his longtime girlfriend and killed himself because he was extremely upset about the coronavirus pandemic and losing his job. Police say 38-year-old Roderick Bliss IV shot his longtime girlfriend in the back before turning the gun on himself.

Police say officers responded to a resident on North 17th Street in Wilson Borough for shots fired and found Bliss unresponsive and not breathing. A semi-automatic pistol was near his body.

This should never happen, and we need to try to get people to understand that there is always hope.

No matter how bad things get, God can take the broken pieces of your life and turn them into a beautiful thing.  There is always hope if you know Jesus, and this is a time when we should all be sharing the message of the cross with as many people as we possibly can.

Right now things look really bleak to most people, and we are seeing things that we have never seen before.

For example, the top of the Empire State Building has been made to look like a “spinning” red siren light…

The Empire State Building debuted what appeared to be a spinning red ‘siren’ light atop the iconic structure in what many observers saw as a dystopian sign of the times.

Scientist Rita J. King explained that the light was not actually spinning but was made to look that way.

So many people are going to fall into depression and despair in the weeks ahead, and what we have experienced so far is just the beginning.

But it is critical to remember that God knew about all of this in advance, He is in control, and He has a plan to bring us through this.

It is during times of great crisis that we find out who we really are.

The past several weeks have been very challenging, and President Trump is warning that we are heading into “a hell of a bad two weeks”…

President Donald Trump prepared Americans for a coming surge in coronavirus cases, calling COVID-19 a plague and saying the U.S. is facing a “very, very painful two weeks.”

“This could be a hell of a bad two weeks. This is going to be a very bad two, and maybe three weeks. This is going to be three weeks like we’ve never seen before,” Trump said at a White House press conference Tuesday. White House officials are projecting between 100,000 and 240,000 deaths in the U.S. with coronavirus fatalities peaking over the next two weeks. “When you look at night, the kind of death that has been caused by this invisible enemy, it’s incredible.”

It will be very interesting to watch how the American people respond to this nightmare.

Will we respond with humility and brokenness, or will we stubbornly remain on the same path that we were going down before this pandemic started?

This is one of the most critical junctures in our history, and nothing will be the same from this point forward.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

49 Percent Of U.S. Companies Expect Layoffs “In The Next Three Months” As Unemployment Heads To Great Depression Levels

If the U.S. economy remains in shutdown mode for the next several months, we are going to witness layoffs like we have never seen before in U.S. history.  Of course what we have already witnessed is difficult to believe.  Last week more than 3.2 million Americans filed initial claims for unemployment benefits, and that was more than four times higher than the previous all-time record.  This week another massive surge is expected, and we will continue to see lots more layoffs for as long as this pandemic persists.  It is going to be a very challenging time for the country as a whole, because we haven’t seen anything like this since the Great Depression of the 1930s.

Yes, shutting down most of the nation is saving lives, but it is also absolutely crippling our economy.  According to a survey that was conducted from March 20th to March 26th by Challenger, Gray & Christmas, almost half of all U.S. companies say that it is likely that they will be conducting layoffs at some point “in the next three months”…

Forty-nine percent of companies told Challenger, Gray & Christmas they are very or somewhat likely to conduct layoffs in the next three months, while 11% reported they have conducted permanent layoffs; another 7% have conducted temporary layoffs.

If that actually happens, can you imagine what that will do to our unemployment rate?

I know that this may sound really crazy, but at this point the St. Louis Fed is projecting that we will soon see a 32 percent unemployment rate…

Millions of Americans already have lost their jobs due to the coronavirus crisis and the worst of the damage is yet to come, according to a Federal Reserve estimate.

Economists at the Fed’s St. Louis district project total employment reductions of 47 million, which would translate to a 32.1% unemployment rate, according to a recent analysis of how bad things could get.

Could things really get that bad so quickly?

If we do see a number that high, it would surpass even the highest unemployment rates that we witnessed during the Great Depression of the 1930s.

The only way to avoid this sort of a nightmare scenario would be to put America back to work as quickly as possible, but that is simply not going to happen.  President Trump just extended the federal coronavirus guidelines until at least April 30th, and that means that it is exceedingly unlikely that any state will end their lockdowns before then.

And actually more states continue to join the “shelter-in-place” party.  For example, check out what just happened in Arizona…

Gov. Doug Ducey is ordering all Arizona residents to remain in their homes for the next month except for essential needs to limit the spread of the coronavirus, which has infected more than 1,000 people in the state.

The “Stay Home, Stay Healthy, Stay Connected” executive order is set to take effect Tuesday at 5 p.m. and remain in place at least until April 30.

It would be wonderful if the pandemic had subsided so much by April 30th that most Americans would be able to get back to work, but many states are already anticipating that this crisis will run much longer than that.

Officials in New York City are warning that the city may stay closed down for the next two months, and in Virginia the current “shelter-in-place” order doesn’t expire until June 10th…

Virginia Gov. Ralph Northam issued a statewide stay-at-home order that’s effective immediately and will remain in place until June 10, unless the governor amends or rescinds it.

In the end, officials will be watching the raw numbers in order to determine when it is finally safe to resume normal activity.

Right now, the number of confirmed cases and the number of deaths is still increasing, but at least the rate at which they are rising is starting to slow down.

Hopefully that means that the “shelter-in-place” orders are having a positive effect.

But if everyone is allowed to resume normal activity a couple of months from now, we could see a “second wave” erupt as the number of cases starts to explode once again.

The only way to truly defeat this virus would be to conduct a complete and total nationwide lockdown for at least 28 days at the same time that the rest of the world is also conducting simultaneous lockdowns, and there is no way that is going to happen.

So it looks like we will be dealing with this virus for a long, long time to come.

As Americans brace for the economic collapse that is now unfolding all around us, they are hoarding cash “at the fastest pace since Y2K”, and retailers are boarding up their stores all over the country…

High-end stores across the country have been boarding up their stores in anticipation of civil unrest due to the Chinese coronavirus pandemic.

In Beverly Hills, the Pottery Barn and West Elm stores near Rodeo Drive were spotted with boards across the windows according to TMZ.

Meanwhile, stores in New York, San Francisco, Seattle, Chicago, Paris, Vancouver and elsewhere were similarly boarded up.

If I was in their shoes, I would probably be doing the same thing.  As unemployment soars and people get sick and tired of being confined to their own homes, it is probably only a matter of time before we see civil unrest, rioting, looting, and an unprecedented spike in the crime rate.

Of course there are still a lot of people out there that are hoping for a “V shaped recovery” once this pandemic begins to fade, but I wouldn’t count on that happening.

Scientists are warning that there could be multiple “waves” during this pandemic, and fear of this coronavirus is going to persist for a very long time to come.  And now that all of the economic bubbles are starting to burst, experts such as Egon von Greyerz are convinced that “there will be no recovery at all”…

No one should believe for one moment that once CV is gone we will experience a V shaped recovery. There will be no V, there will be no U and nor will we see a hockey stick recovery. What few people understand, including the so called experts, is that there will be no recovery at all. An extremely rapid decline of the world economy has just started and will be devastating in the next 6-12 months, whether CV ends soon or not.

Personally, I do believe that there will be ups and downs throughout this process, but overall we are facing a “great unraveling” that will be more painful than most Americans would dare to imagine.

This coronavirus is not going to be the only challenge that we will have to face.  We have entered a time when there will be one crisis after another, and there will be no way to reinflate the bubbles this time.

Sadly, so many Americans today have come to take such great pride in our debt-fueled “national prosperity”, and now that prosperity is going to be smashed into a thousand pieces.

Our day of reckoning has finally arrived, and it is going to be really, really painful for the American people.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

The Economic Depression Of 2020: Many Of The Restaurants, Bars And Retailers That Have Closed Will Never Open Again

It appears that we are heading into the worst economic downturn of the post-World War II era, and that is going to be true no matter how this coronavirus pandemic ultimately plays out.  There are some that believe that this virus will only kill thousands, and there are others that are warning that it could kill millions, but everyone can agree that this outbreak is causing an unprecedented amount of fear.  And even once this pandemic starts to fade, a certain percentage of the population will continue to be afraid to go to restaurants, bars and other small businesses that are open to the public.  Of course many restaurants, bars and small businesses were just barely scraping by during the “good times”, and so many of them will simply not be be able to survive if a substantial portion of the population is literally petrified to step through their doors for the foreseeable future.

As long as fear of the coronavirus persists, the U.S. economy is going to be in for a world of hurt, and it looks like we may still be in the very early stages of this pandemic.

In fact, we are now being told that the death toll in the U.S. “could reach 100,000 or more”…

President Donald Trump acknowledged Sunday for the first time that deaths in the United States from coronavirus could reach 100,000 or more, adding that if the death toll stays at or below 100,000, “we all together have done a very good job.”

Trump’s assertion came after he was asked about comments the nation’s top infectious disease expert, Dr. Anthony Fauci, made earlier Sunday on CNN’s “State of the Union” that based on models, 100,000 Americans or more could die from the virus.

Of course the death toll could ultimately be much lower than that if effective treatments are made widely available to the general public.

We shall have to wait and see if that actually happens.

But meanwhile, fear of the coronavirus is absolutely devastating the economy.  According to the National Restaurant Association, our restaurant industry has lost 25 billion dollars in sales so far this month…

The U.S. restaurant industry has lost $25 billion in sales since March 1, according to a survey of 5,000 owners by the National Restaurant Association. Nearly 50,000 stores of major U.S. retail chains have closed, according to the companies.

An estimated $20 billion in monthly retail real estate loans are due as early as this week, according to Marcus & Millichap, a commercial real-estate services and consulting firm. Many retailers and restaurants have said they are not going to pay their April rents, which in turn poses a threat to the $3 trillion commercial mortgage market.

As this crisis stretches on, all of the dominoes in the commercial mortgage market are going to begin to fall.

What we are watching is deeply tragic, because those that work in our restaurants are some of the hardest working people in the entire country.  At this point, 3 percent of our restaurants “have already permanently closed”, and another 11 percent “anticipate they will permanently close within 30 days”…

Three percent of restaurants have already permanently closed due to the coronavirus crisis, according to research from the National Restaurant Association. Forty-four percent of operators have temporarily closed their restaurants, and 11% anticipate they will permanently close within 30 days.

Can you imagine that?

By the end of next month, 14 percent of all restaurants in America could be gone for good.

And the longer this pandemic lasts, the higher that number will go.

We didn’t see anything like this back in 2008.  What we are now facing is truly unprecedented, and there is going to be a whole lot of vacant buildings in the days ahead.

Of course it isn’t just restaurants that are being hit extremely hard.  According to the Wall Street Journal, a wide variety of businesses all over the country are already in very serious trouble…

Companies of all sizes are feeling the squeeze, especially retailers and restaurants that have closed their doors during the outbreak. Nike Inc. is asking to pay half its rents. TJ Maxx is delaying payments to its suppliers. Victoria’s Secret and Men’s Wearhouse have furloughed thousands of workers. Cheesecake Factory Inc. closed 27 of the company’s locations and furloughed 41,000 hourly workers, nearly 90% of its total staff.

Even if all of the lockdowns all over the U.S. were immediately lifted, economic activity would not return to “normal”, because millions upon millions of Americans would still be deeply afraid of the virus.

And that isn’t going to happen anyway.  In fact, President Trump just extended the national “social distancing guidelines” through April 30th…

President Donald Trump announced on Sunday that the White House would be extending its social distancing guidelines through April 30 – a month longer than an initial 15-day timeline when they were implemented on March 16.

“The peak in death rate is likely to hit in two weeks,” Trump said. “Nothing would be worse than declaring victory before the victory is won.”

So that means that it is probably unlikely that any of the lockdowns on the state level that we have witnessed will be lifted before April 30th.

Across the Atlantic, citizens of the United Kingdom are being warned that life may not get back to normal “for six months or even longer”…

Britons should not expect to get back to ‘normal life’ for six months or even longer, the government’s deputy chief medical officer warned today.

Dr Jenny Harries told a Downing Street press conference that people should not be viewing the coronavirus crisis as something that will blow over soon.

Would they really try to keep people inside for that long?

I can promise you that people do not have that much patience.

If you doubt this, just look at what is happening in China…

Angry crowds rioted near the Chinese city of Wuhan after the region’s two-month coronavirus lockdown was lifted but residents were told they could not travel elsewhere in China.

Shocking footage showed a mob overturning a police van on a bridge linking Wuhan, which is the capital of Hubei Province, and neighbouring Jiangxi.

Here in the U.S., I have been seeing people all over social media clamoring for a return to normalcy.

Sadly, that is simply not going to happen for the foreseeable future, and the consequences for the U.S. economy are going to be extremely, extremely bitter.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

The Pace At Which The Coronavirus Is Changing Life In America Is Absolutely Breathtaking

Fear of COVID-19 has fundamentally transformed our entire country in a matter of weeks, and as long as people are afraid of this virus life is definitely not going to return to normal.  In fact, every “shelter-in-place” order in America could be lifted tomorrow and economic activity would not rebound even close to previous levels because a large percentage of the population would still be extremely hesitant to leave their own homes.  As coronavirus survivors tell us stories of the hellish ordeals that they have endured, an increasing number of Americans are finally realizing how dangerous this crisis has become.  If you have asthma, a history of respiratory problems or other serious underlying health conditions, I strongly recommend that you do everything in your power to avoid catching this virus.  The global death toll is more than nine times larger than it was back on March 1st, and you do not want to become a statistic.

Here in the United States, we now have more confirmed cases than anywhere else in the world.  If you would have told me at the beginning of this month that the U.S. would be the first nation to 100,000 confirmed cases, I would have laughed at you.  And even though about half the country is currently under some sort of a “shelter-in-place” order, the virus just keeps on spreading.  In fact, the number of confirmed cases in the United States has doubled in just three days…

Confirmed COVID-19 cases in the U.S. surpassed 100,000 Friday, doubling in just three days as the pandemic accelerates and the U.S. rolls out broader testing measures.

Data from Johns Hopkins University showed the total number of coronavirus cases as 101,707 and the total number of deaths in the U.S. as 1,544.

We had better hope that the measures that have already been implemented will start to slow down this rate of growth, because otherwise every healthcare system in America will soon be completely overwhelmed.

Of course this has already happened in New York, and now other hotspots across the country are starting to become major problems.

For example, Louisiana Governor John Bel Edwards is openly admitting that his state is on pace to become “the next New York”…

Louisiana Governor John Bel Edwards has warned that the state ‘doesn’t have long’ to bring the coronavirus pandemic under control, as he admitted the state is on track to become ‘the next New York’.

Speaking at a press conference Friday, Edwards announced that the number of cases in Louisiana had surged in the last 24 hours, rising to 2,746 as of noon – a spike of 441 in a single day.

Sadly, it looks like we will soon be seeing similar numbers virtually everywhere.

The very first coronavirus case in the U.S. was confirmed by the CDC on January 20th.  Just a little over two months later, we are in the middle of the biggest economic shutdown in U.S. history and according to one recent survey 11 percent of all Americans personally know someone that has caught the virus.

At first, a lot of Americans were mocking this pandemic, but now people are starting to understand that once you catch this virus you can go from being “perfectly healthy” to dead in just a matter of days…

A “perfectly healthy” father of six from Texas died Thursday from the coronavirus — two days after he received his positive diagnosis, a report said.

Adolph Mendez, known as TJ, was 44-years-old.

Please pray for that family, and hopefully that community will rally and provide what they need now that their father is gone.

But if hundreds of thousands of fathers start dying, who will provide for all of those mourning families?

And millions of Americans all across the country are already trying to figure out how they will provide for themselves now that they have lost their jobs.

On Thursday, we learned that more than 3.2 million workers filed new claims for unemployment benefits last week, and unfortunately next week is going to be really bad as well.  The following comes from Wolf Richter…

And it’s going to get worse. The five largest counties of the San Francisco Bay Area were the first major region in the US to go into lockdown on March 17. The State of California followed on March 20, toward the end of the unemployment-claims reporting week (through March 21), and many other states followed within days – and many of those claims were filed after this reporting week had ended.

In all of U.S. history, we have never seen anything like this.

Many experts are projecting that we will shoot past the peak unemployment rate during the last recession very rapidly, and I agree with that assessment.

In the months ahead, we are going to see things that most Americans never imagined were possible.  If you can believe it, one new survey has found that 23 percent of U.S. adults say that they are no longer working as a result of this economic downturn…

Twenty-three percent said they have already lost their jobs because of the coronavirus, or that their employer was forced to close and “I no longer go to work, but I am still employed by them.”

Many economists expect the U.S. unemployment rate will surpass the 10% level that the country experienced more than a decade ago during the Great Recession. St. Louis Fed President James Bullard said it may rise as high as 30%.

Of course many Americans are already losing patience and are quite eager to get back to work.

If the “shelter-in-place” orders stretch on for months, it is probably inevitable that we will see civil unrest and rioting like we are witnessing in China right now.

Unfortunately, it appears that vast sections of the country will remain shut down for the foreseeable future.  On Friday, New York City Mayor Bill de Blasio openly acknowledged that his city will almost certainly be closed down “through May”…

New Yorkers should be prepared for the city to remain in “pause” due to coronavirus through May even as President Trump gives Americans “false hope” the country will reopen by Easter next month, Mayor de Blasio said Friday.

“We have to be ready for that and I think it’s going to spread in the country,” de Blasio said when asked if the city would be closed through May on ABC’s “Good Morning America.” “This idea of Easter is, unfortunately, a false hope. It would be better for the president to be blunt with people that we’ve got a really tough battle ahead.”

I would never suggest that the decisions that our leaders are facing are going to be easy.

On the one hand, if extreme measures are not taken it is likely that millions could die.

On the other hand, shutting everything down is going to take us directly into complete economic collapse and the next Great Depression.

And actually even if they do everything right we might end up with both results anyway.

At a time like this, we need more prayer than ever, but right now churches all over America are being shut down.  In fact,Virginia Governor Ralph Northam just made it a crime “for more than 10 people to gather in a church”…

Virginia Gov. Ralph Northam issued an executive order on Monday that is aimed at stopping the new coronavirus — and, in the process, makes it a criminal offense to hold a church service attended by more than 10 people.

Yes, his order makes it a crime for more than 10 people to gather in a church.

But meanwhile, the abortion clinics in Virginia just keep humming along.

I think that says a lot about where we are as a society today.

Nobody should really be surprised that the time of “the perfect storm” has arrived.  We have been slowly but surely committing national suicide for decades, and now the consequences of our very foolish decisions are rapidly catching up with us.

In the short-term, let us pray that this pandemic will start to subside as quickly as possible and that some sense of normalcy can soon be restored.

But if we just go back to the way that we were doing things, it really won’t matter, because the path that we were on doesn’t lead anywhere good.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

A Massive Surge Of Unemployment Like America Has Never Seen Before

The pace at which Americans are losing their jobs is absolutely breathtaking.  According to the Wall Street Journal, the largest number of new claims for unemployment benefits ever recorded in a single week prior to this year was 695,000 during the week that ended October 2nd, 1982.  So that means that what we are now witnessing is completely unprecedented.  About half the country is currently under some sort of a “shelter-in-place” order, and there has never been a nationwide shutdown of businesses anything like what we are currently experiencing.  Many are hoping that America will be able to “get back to normal” soon, but that all depends on the progression of this pandemic.  The number of newly confirmed cases in the U.S. spiked by more than 11,000 on Wednesday, and the number of new deaths continues to escalate at a very alarming rate.  Until those numbers start to improve, life is definitely not going to “get back to normal”.

In recent days, so many newly unemployed Americans have been trying to file for unemployment benefits that it has been crashing websites all over the country.  For example, a newly unemployed worker in Michigan named Aaron Garza never was able to file for benefits through Michigan’s unemployment website although he kept on trying throughout Monday and Tuesday…

When Aaron Garza was dismissed this week from his job as a parts specialist at a Toyota dealership in Grand Rapids, Michigan, he joined a tidal wave of unemployed people swamping systems to help them and straining state finances to the breaking point.

On Monday, Garza went to Michigan’s unemployment website and tried logging on to apply for benefits electronically. After 30 minutes, he was able to sign on, but by the time a verification code was sent to his phone 25 minutes later, he had already given up. As of Tuesday afternoon, he still hadn’t been able to get through.

Last week, 108,000 workers filed for unemployment benefits in the state of Michigan.

That is 20 times more than normal.

Ouch.

In Louisiana, things are even worse.  If you can believe it, the number of people filing for unemployment benefits is more than 40 times higher than usual…

In Louisiana alone, 71,000 people filed new unemployment applications last week, compared to the usual 1,400 or 1,500 people per week, said state labor secretary Ava Dejoie.

Louisiana has one of the highest per capita counts of coronavirus cases in the U.S. Democratic Gov. John Bel Edwards has ordered nonessential businesses to close, limited restaurants to takeout and delivery, banned gatherings over 10 people and directed residents to remain at home.

And in California, Governor Gavin Newsom says that a million residents of his state have filed for benefits “just since March 13”…

California Gov. Gavin Newsom said Wednesday that the state has seen 1 million unemployment claims in less than two weeks as the coronavirus pandemic has led to businesses being shut down across the state.

“We just passed the 1 million mark, in terms of the number of claims, just since March 13,” Newsom said.

On Thursday, we will get the latest weekly total for the nation as a whole.

At this point nobody is quite sure what to expect, but most forecasts are ranging between one million and four million…

Economists have issued widely varying estimates of Thursday’s jobless claims total based on anecdotal reports by about 40 states to news outlets for the first few days of last week. Goldman Sachs estimated the national count will be about 2.25 million but said it could be as low as slightly more than 1 million. Morgan Stanley reckons about 3.4 million. Oxford Economics says about 4 million.

If we even hit the lowest edge of that range, it will absolutely shatter the old record that was set back in 1982.

Of course similar things are happening all over the world.  Approximately one-third of the entire population of the globe is currently under some sort of a lockdown order, and that means that hundreds of millions of workers are sitting at home not working.

Here in the United States, so many people are already absolutely sick and tired of being idle at home, but the truth is that it looks like this pandemic is just getting started.

In fact, New York City Mayor Bill de Blasio believes that more than half of the residents of his city will eventually get the virus…

More than half of New York City’s population can expect to be infected by the coronavirus, Mayor Bill de Blasio said. Most will suffer only a “mild experience,” but many will become very sick, and “we are going to lose some people,” he said. April will be tough and May tougher before the virus crisis eases, he said. The city has seen 192 deaths so far, and there are more than 17,000 confirmed cases of the virus.

“The world we knew is gone,” de Blasio said in a social media post. “And it’s not coming back, not for the next few months. That’s the blunt truth.”

If his projection is even close to accurate, that means that we are in for a very, very long battle with COVID-19.

A lot of people out there are still trying to downplay this pandemic, and that is a huge mistake.  The dead bodies are starting to pile up just like we saw in China, Iran and Italy, and already “New York City’s morgues are nearing capacity”…

The Department of Homeland Security has been briefed that New York City’s morgues are nearing capacity, according to a department official and a second person familiar with the situation.

Officials were told that morgues in the city are expected to reach capacity next week, per the briefing. A third person familiar with the situation in New York said some of the city’s hospital morgues hit capacity in the past seven days. And a FEMA spokesperson told POLITICO that New York has asked for emergency mortuary assistance. Hawaii and North Carolina have asked for mortuary help as well, and the disaster response agency is currently reviewing the requests, according to the spokesperson.

You may have noticed that I have not said too much about what Congress is doing, and that is because any “stimulus package” is really not going to make that much of a difference.

Congress is not going to be able to make this pandemic go away, and they aren’t going to be able to convince people that are deathly afraid to leave their own homes to go out and spend money normally.

But thanks to Congress there will be a lot more money chasing a rapidly dwindling pool of goods and services in the days ahead, and that will eventually cause very painful inflation.

And if they are going to start handing out giant checks to everyone, they better keep on doing it all throughout this crisis.  Because as Gerald Celente has warned, what we are heading for is “the Greatest Depression”…

“People are going to go bankrupt. You are going to see suicide rates increase. You are going to see crime escalate and people OD’ing on drugs because of depression…

Our leaders are totally closing down the economy. Again, this has never been done before. It’s not only Wall Street going down, Main Street went down simultaneously. That is unprecedented. Usually, the markets go down and then the ripple effects start hitting Main Street. This time–boom, they are both down…

It’s going to be worse than the Great Depression. It’s going to be the Greatest Depression.”

Sadly, one element of Celente’s warning is already coming to pass.  It is being reported that calls to the National Suicide Prevention Hotline have risen 300 percent…

Isolation and anxiety over the coronavirus pandemic are taking a toll, with calls to a National Suicide Prevention Hotline call center rising 300 percent, KVLY reports.

Other suicide prevention services across the United States also have seen spikes in calls since the COVID-19 virus threw everyday life askew for millions.​​​​​

In this hour, people are going to need hope.

But trying to convince them that this virus does not exist is not giving them hope.

And those that are boldly proclaiming that this virus will magically go away very quickly are only giving people false hope.  When they later realize that they were lied to, that false hope will give way to even deeper depression and despair.

This virus is very real, and we are going to be battling this pandemic for an extended period of time.  But God knew all about this in advance, He is in control, and He will accomplish His purposes.

And God specifically has a plan for you and your family, but you have got to be willing to embrace it.  Your future is likely to look far different than you originally imagined, but with God’s help it can also be far greater than you originally imagined as well.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

Here Are The Very Alarming Things That Scientists Have Just Discovered About This Coronavirus…

The biggest public health crisis of our time just continues to get worse.  The global death toll is rapidly approaching 20,000, and approximately a third of the world is currently under some sort of a lockdown order.  Needless to say, this is going to be absolutely devastating for the entire global economy.  Here in the United States, the spread of this virus continues to track along a trajectory that is very similar to what we witnessed in Italy.  If you doubt this, just check out this chart.  At this hour, the official death toll in the United States is up to 782, and only 378 victims have officially “recovered”.  But of course the vast majority of the 54,867 confirmed cases will not come to a final resolution for quite some time.  Sadly, the numbers that I just shared with you are likely to be much higher by the time most of you actually read this article.  This is a full-blown national emergency, and a lot of people out there are still not taking this crisis very seriously.

This is no ordinary virus.  It moves from person to person with incredible ease, and it is rapidly changing.  In fact, it has just been announced that scientists in Iceland “have found 40 mutations of the coronavirus”…

Scientists in Iceland claim they have found 40 mutations of the coronavirus, which has left the world gripped in fear.

The mutations were discovered by analysing swabs of COVID-19 patients in Iceland, where almost 600 cases have been reported so far.

Using genetic sequencing, the researchers identified how many mutations the virus had accumulated.

Those sentences should send a chill up your spine, and this discovery may help to explain why we are seeing far higher death rates in the western world than we have in Asia so far.

Meanwhile, a professor in the United Kingdom is warning that a single person that has the virus can potentially infect “up to 59,000 others”…

An intensive care specialist has described how one person with coronavirus could infect up to 59,000 others – as the virus is more than twice as infectious as flu.

Dr Hugh Montgomery, a professor of intensive care medicine at University College London, explained how the virus could be passed from one person to thousands as he called on Britons to heed advice on social distancing.

Previously, we have been told that someone can spread COVID-19 for many days before they even start exhibiting any symptoms.

That makes this the perfect “stealth virus” to spark a horrifying global pandemic.

And as I have discussed in previous articles, you don’t even have to encounter someone with the virus in order to become infected.

In fact, scientists have now discovered that this virus can linger on surfaces “for up to 17 days”…

Researchers have made the startling discovering that a form of the coronavirus can linger around for more than two weeks.

Traces of new coronavirus were found on the Diamond Princess cruise ship on surfaces in cabins where people who were infected with the virus had stayed, for up to 17 days after they had left, according to a study released Monday along with the Centers for Disease Control and Prevention’s Morbidity and Mortality Weekly Report.

I know that this information is hard to take.

But it is absolutely critical that we understand what we are dealing with.

Just like elsewhere, our healthcare system is about to be completely overwhelmed.  On his Twitter account, a New York City emergency room doctor named Craig Spencer has described what his shifts are already like each day…

You’re notified of another really sick patient coming in. You rush over. They’re also extremely sick, vomiting. They need to be put on life support as well. You bring them back. Two patients, in rooms right next to each other, both getting a breathing tube. It’s not even 10am yet

For the rest of your shift, nearly every hour, you get paged:

Stat notification: Very sick patient, short of breath, fever. Oxygen 88%.

Stat notification: Low blood pressure, short of breath, low oxygen.

Stat notification: Low oxygen, can’t breath. Fever.

All day…

Sadly, this is what life is going to be like for emergency room doctors all across America for as long as this pandemic lasts.

And it is inevitable that a lot of those doctors will end up catching the virus themselves.  In fact, it is already happening…

Healthcare workers across the United States are now testing positive for the coronavirus even as they man the front lines against the rapidly spreading pandemic.

The medical professionals who have tested positive for COVID-19 include two ER physicians at a Chicago suburban hospital, two doctors associated with Washington University, a doctor in Austin, Texas, as well as a doctor at a children’s hospital in Wisconsin.

I know that a lot of you out there are quite eager for life to return to “normal”, but that isn’t going to happen.

So far, the number of confirmed cases and the number of deaths in the United States are both ahead of even the most pessimistic early projections.

We should definitely be hopeful that the “social distancing” measures that have been put in place will help to “flatten the curve”, but even if that happens we still have a very long battle ahead of us.

In some countries that had supposedly “contained” the virus, we are already starting to see a stunning resurgence in cases as people bring the virus back in from other areas.

Expert after expert has assured us that most of the U.S. population will eventually catch COVID-19, and if it hits you really hard it will be a nightmarish ordeal that you will never forget.

Like so many others, I wish that this pandemic had not happened.

But it is here, and we have to deal with it.

According to a survey that was just conducted, 19 percent of Americans think that they might already have the virus.  If you are one of those people, please get the medical help that you need, and please reach out to those around you for prayer.

So many people out there have been getting really angry, but this is a time when we need to work together and all pull in the same direction.  This is truly a great challenge for this generation, and with God’s help we can get through it.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

Experts Warn Of A Complete And Utter Economic Meltdown As The Global Coronavirus Death Toll Explodes

Everyone that tried to tell us that this pandemic would fade away quickly has been proven dead wrong.  Right now, approximately 187 million Americans are under “shelter-in-place” orders as COVID-19 sweeps across the nation like wildfire.  There are now more than 43,000 confirmed cases in the U.S., but by the time many of you read this article that number is likely to be far higher.  But what is even more concerning is what we are seeing with the cases that have come to a final resolution one way or the other.  Of all U.S. cases that have been officially resolved, 553 patients have died and only 295 patients have recovered.  Over time, the number of patients that have officially recovered will eventually surpass the number that have died for a couple of reasons.  For one, some victims are dying in just a few days while it can take weeks for some patients to fully recover.  Secondly, more widespread testing will start to reveal more mild cases, and most of those mild cases will ultimately recover.  But without a doubt it is starting to appear that the U.S. will have a very high death rate like we are seeing in Italy, Spain and other western European nations.  Monday was the very first time that more than 100 Americans died in a single day, and it looks like the days ahead could be much, much worse.

Overall, the global death toll is rising at a pace that is very alarming.  It hit 16,000 on Monday, and that means it only took six days to double from 8,000.

If the death toll keeps doubling like that, we are going to be in very big trouble.

The number of confirmed cases is rising at an exponential rate as well, and on Monday the head of the WHO warned that this pandemic “is accelerating”…

The coronavirus “pandemic is accelerating,” World Health Organization (WHO) Director-General Dr. Tedros Adhanom Ghebreyesus warned Monday.

Almost every country in the world has reported cases, he announced in a Geneva press conference.

“It took 67 days from the first reported case to reach the first 100,000 cases. Eleven days for the second 100,000 and just four days for the third 100,000,” he said.

As I write this article, there are 260,133 open cases around the world and 118,947 closed cases.

Out of the closed cases, 86 percent of the victims have recovered and 14 percent of the victims have died.

To put that into perspective, the Spanish Flu pandemic that stretched from 1918 to 1920 had a death rate of less than 3 percent.

But even after everything that has transpired, there are still lots of Americans that are not taking this pandemic seriously.  I don’t understand this, because all of our medical authorities are warning us that the worst is yet to come.  In fact, Surgeon General Jerome Adams just told us that “it’s going to get bad” …

Surgeon General Jerome Adams warned Monday that the coronavirus outbreak will worsen this week and said people across the country are not taking the threat seriously enough.

“I want America to understand this week, it’s going to get bad,” Adams said in an interview on the “TODAY” show.

And as I have been warning for weeks, this pandemic is going to plunge the United States and the entire globe into a horrifying economic nightmare.

At this point, even CNN is using “the d-word”….

A global recession, once unthinkable in 2020, is now a foregone conclusion and some experts warn that the pandemic could drag the world’s economy into a depression. More bad news: The coronavirus outbreak may just be getting started.

Central banks and governments are now unleashing a tsunami of interest rate cuts, loan guarantees and new spending, tapping emergency powers to reassure investors, cushion the shock to companies and workers and preserve the foundations of a functioning economy for the future.

A month ago, most Americans wouldn’t have imagined that such a thing could be possible.

But now “the everything bubble” has burst and we have just witnessed the fastest 30 percent decline for the S&P 500 in all of U.S. history…

Twenty-two days.

That’s all it took for the S&P 500 to fall 30% from its record high, the fastest drop of this magnitude in history.

The second, third and fourth quickest 30% pullbacks all occurred during the Great Depression era in 1934, 1931 and 1929, respectively, according to data from Bank of America Securities.

In the short-term, the good news for investors is that we should see a substantial bounce in stock prices this week, and that could especially be true when Congress finally gets around to passing their “stimulus” package.

But whether the market goes up or down in the short-term, it isn’t going to stop the complete and utter economic meltdown that is now unfolding.

According to billionaire Tom Barrack, the commercial mortgage market is on the precipice of a historic collapse…

Real estate investor Tom Barrack said the U.S. commercial-mortgage market is on the brink of collapse and predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep borrowers from defaulting.

Barrack, chairman and chief executive officer of Colony Capital Inc., warned in a white paper and in a subsequent interview on Bloomberg Television of a chain reaction of margin calls, mass foreclosures, evictions and, potentially, bank failures due to the coronavirus pandemic and consequent shutdown of much of the U.S. economy.

Sadly, Barrack is 100 percent correct.

All of the dominoes are going to fall, and it is going to be horrifying to watch.

Meanwhile, we could be on the verge of a shutdown “of virtually all passenger flights across the U.S.”…

Major U.S. airlines are drafting plans for a potential voluntary shutdown of virtually all passenger flights across the U.S., according to industry and federal officials, as government agencies also consider ordering such a move and the nation’s air-traffic control system continues to be ravaged by the coronavirus contagion.

No final decisions have been made by the carriers or the White House, these officials said. As airlines struggle to keep aircraft flying with minimal passengers, various options are under consideration, these people said.

To me, this is something that is exceedingly difficult to imagine, but we will see things a lot stranger than this in the days ahead.

As America literally shuts down from coast to coast, the job losses are going to be absolutely staggering.  In fact, we are being warned to expect numbers that are unlike anything we have ever seen before…

Upcoming weekly jobless claims will shatter the standards set even during the worst points of the financial crisis and the early-1980s recession, with Bank of America forecasting a total of 3 million when the number is released Thursday. Those figures are expected to be so bad, in fact, that the Trump administration, according to several media reports, has asked state officials to delay releasing precise counts.

If this pandemic stretches on for an extended period of time, we will very quickly surpass the unemployment levels that we witnessed during the Great Recession.

Back then, the unemployment rate didn’t exceed 10 percent, but now the head of the St. Louis Fed is warning that we may see a 30 percent unemployment rate in the second quarter…

Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.

Could things actually deteriorate that rapidly?

I sure hope not, because most American families are just barely scraping by…

How long could you sustain your household if you were to stop earning income? If you are like most Americans, the answer is not for long. Only 40 percent of Americans can afford an unexpected $1,000 expense with their savings. In fact, nearly 80 percent of workers are living paycheck to paycheck. It is no surprise that the probability of an economic recession brought on by the coronavirus pandemic caused many to worry.

For years, many of us have been begging and pleading with people to get ready.  We warned that when things finally broke loose that events would move very quickly.  I even co-authored an entire book entitled “Get Prepared Now”, but now it is too late to get prepared in advance because a day of reckoning is now upon us.  I really like how Mike Adams of Natural News made this point…

Over the last several days, I’ve been called by many people I haven’t heard from in years. Suddenly they’re interested in what I have to say, even though they ignored everything I said for the last decade. And they want to assure me they’re “fully prepared” with 2-3 weeks of food.

These are the same people who probably have four months’ worth of toilet paper, but only a 3-week supply of food.

I’m not even trying to educate them at this point. That day is long gone. Anyone who thinks “2-3 weeks of food” is going to carry them through a national food supply line collapse, a global consumer goods supply line collapse and a systemic, cascading finance and banking collapses is living in a land of sheer delusion.

A lot of the same people that didn’t listen and didn’t get prepared in advance are now trying to convince us that this crisis will soon be gone.

And it would be wonderful if they are right.

But at this moment the global numbers are rising rapidly with each passing hour, and the global economy is literally imploding all around us.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

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