Leading economists at the Federal Reserve produced a report on the Coronavirus’s potential impact on the US economy this week; projecting nearly a third of the American workforce could be unemployed in the weeks ahead.
“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,” reports CNBC.
“The projections are even worse than St. Louis Fed President James Bullard’s much-publicized estimate of 30%. They reflect the high nature of at-risk jobs that ultimately could be lost to a government-induced economic freeze aimed at halting the coronavirus spread,” adds the financial website.
“These are very large numbers by historical standards, but this is a rather unique shock that is unlike any other experienced by the U.S. economy in the last 100 years,” said the Federal Reserve.
The previous high for unemployed Americans was 25% during the Great Depression of the late 1920s and early 1930s.
Read the full report here.
'SICKENING': Backlash Grows Against Denver Democrat Who Supported Spreading Coronavirus at MAGA Rallies
Denver’s Democratic Councilwoman Candi CdeBaca is facing a growing backlash on social media this week after calling for those sick with the deadly Coronavirus to intentionally spread the disease at ‘Make America Great Again’ rallies.
“Democrat Denver Councilwoman Candi CdeBaca says that she stands in ‘solidarity’ with someone who says that they if they get the coronavirus that they will attend as many Trump rallies as possible She appears to have made the statement on her government Twitter account,” posted a reporter with the Daily Wire.
These people are sick. https://t.co/74mEIJDOpa
— Donald Trump Jr. (@DonaldJTrumpJr) March 3, 2020
“These people are sick,” posted Donald Trump Jr.
“This elected Democrat in Colorado doesn’t seem very nice!” the Trump campaign War Room Twitter account posted in response.
— Trump War Room – Text TRUMP to 88022 (@TrumpWarRoom) March 3, 2020
Read the full report here.
Source: Fox News
A NEW LOW: NY Times Article Blames Coronavirus Outbreak on ‘Evangelicals’ and Religious Americans
A sickening new article published by the New York Times Friday viciously claims the “road to Coronavirus hell” was “paved by Evangelicals” and other religious Americans; directly blaming hundreds of deaths and thousands of infections on people of faith.
“Donald Trump rose to power with the determined assistance of a movement that denies science, bashes government and prioritized loyalty over professional expertise. In the current crisis, we are all reaping what that movement has sown,” writes Katherine Stewart.
“By all accounts, President Trump’s tendency to trust his gut over the experts on issues like vaccines and climate change does not come from any deep-seated religious conviction. But he is perfectly in tune with the religious nationalists who form the core of his base. In his daily briefings from the White House, Mr. Trump actively disdains and contradicts the messages coming from his own experts and touts as yet unproven cures,” adds the author.
“When a strong centralized response is needed from the federal government, it doesn’t help to have an administration that has never believed in a federal government serving the public good. Ordinarily, the consequences of this kind of behavior don’t show up for some time. In the case of a pandemic, the consequences are too obvious to ignore,” Stewart concludes.
Read the full story at the New York Times.