A survey conducted by Ipsos shows 87% of Americans are concerned about an economic collapse due to the COVID-19 Pandemic. This survey is loaded with data.
The Numbers
When respondents were asked how their 401k or retirement plan was doing, 43% said it had lost value.
Looking at other questions we see:
- 21% reported being furloughed or suspended from work.
- 49% reported receiving stimulus checks from the Government.
- 17% reported a rise in household debt.
Best of all?
82% reported being concerned by the Government’s response to Coronavirus. 55% being very concerned or extremely concerned.
I know these are statistics I am rambling off, but these are important indicators to take note of. Especially this 82% number, it means most people do not think the Government has responded appropriately. I did find it interesting to note how many people responded they wear masks and gloves while going out.
So what does it all mean?
The Government has paved the way for the destruction of our economy, and way of life. There is no reason to shut down our nation, and the world for that matter over a virus with a similar mortality rate as the Seasonal Flu.
Study and news with a fresh Christian perspective in your inbox.
COVID-19 has a 0.1% mortality rate.
U.S. Economy Shrank 4.8%
The U.S. economy shrank by 4.8% in the first quarter, which would be the first three months of 2020. Remember, the Coronavirus Crisis did not begin until March. That means January and February are not factored in here. This is only counting the month of March essentially.
When the second-quarter numbers come out, they will obviously be much worse.
How much worse?
This from Market Watch,
The economy is likely to contract by 25% or more in the second quarter, with some forecasts putting the decline at a record 40%.
Even at just 4.8%, this is the worst drop in GDP since the 2008 Financial Crisis we all remember so well. These are not good signs people, not good at all. Yet, with these numbers the stock market continues to maintain levels that are not real, not in the least.
It is the Federal Reserve who is creating phony money and bailing out the markets. Better said, the Federal Reserve is purchasing assets with money they do not really own. This is a MASSIVE transfer of wealth.