2020 Apr 9, 4:06am
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The unemployment is starting first this time. Stock market always leads this sort of thing. The UE numbers are nothing short of horrific. 17million people filed in the past three weeks, that’s 10% of the entire workforce. Instead of producing taxable income, they’ll be relying on the government for lost wages and financial support. And keep in mind that due to extreme pressure on the system, many people who wanted to file haven’t been able to do so. I expect another 6 million next week. And the next week. It will continue until they reopen the economy. At that point we will have 20-25% unemployment, bigger numbers than the Great Depression. The populist outcry will be unmatched in American history. The institutions will have to hear and obey or be crushed in a Revolution.
I have 53 years of experience flying on various aircraft (military and civilian) around the world.
What does that have to do with anything?
First of all, a Chinese restaurant selling margarita? That’s the first time I’ve heard of it.
We are in a great depression right now. It is going to be worse than 1929."
Look at how cruise lines are about 80% below their recent all time high share price. I can't imagine cruise lines will not be at 25% of normal business for the next 12 months starting in July.