09-10-2020, 11:30 AM
As was expected, my SO was laid off yesterday from The Hartford, along with a colleague. I don't know how many the company is whacking in total, but the travel, event, restaurant, and recreation industries are getting absolutely eviscerated.
The economic news is going to get way worse before it gets better. The Hartford layoffs don't become official until Oct. 1, when tens of thousands of airline jobs will go up in smoke.
The real unemployment rate is way higher than 9% now, and will be going higher. Just like the "inflation rate" is like 2% when you and I know it is WAY more than that.
The stock market has a "V-shaped" recovery built into equity valuations now. When people realize it ain't happening, look out below.
The central banks are propping up markets by printing money like it's going out of style, then buying equities to pump up stock valuations. This is so reckless and irresponsible:
[tweet]https://twitter.com/Schuldensuehner/status/1303555732604727296[/tweet]
The economic news is going to get way worse before it gets better. The Hartford layoffs don't become official until Oct. 1, when tens of thousands of airline jobs will go up in smoke.
The real unemployment rate is way higher than 9% now, and will be going higher. Just like the "inflation rate" is like 2% when you and I know it is WAY more than that.
The stock market has a "V-shaped" recovery built into equity valuations now. When people realize it ain't happening, look out below.
The central banks are propping up markets by printing money like it's going out of style, then buying equities to pump up stock valuations. This is so reckless and irresponsible:
[tweet]https://twitter.com/Schuldensuehner/status/1303555732604727296[/tweet]