14.7% Unemployment, 103M Not In Labor Force, Stocks Jump 300pts

Yes my friends, this is the new normal. In just 7 weeks the unemployment rate jumped over 10%. I do not think most people really comprehend that. The other night I was reading about the Great Depression…

They say the unemployment rate in those days reached 24.7%, a lot higher than where we are, but we closed that gap by half in just 7 weeks.

The Great Depression

When we hear about the economic pain during the Great Depression, it is important to remember, it did not occur overnight. It took years to reach an unemployment rate of 24.7%. In fact, by 1933, during the lowest point of the Depression 15 million Americans were unemployed, (population 125M).

Today, over 30 million Americans are unemployed, (population 330M). Of course, today the unemployment numbers have been manipulated.

What am I talking about?

I am talking about the record 103 million working-age Americans not in the labor force. Only a small percentage of those Americans are factored into the 14.7% number.

These Americans either cannot find a job, or do not want one. Whatever the case is, they are not working, they are not contributing and the problem is only becoming worse thanks to our government. They created this crisis.

Stock Market Jumps 300pts

Despite these disturbing numbers, the stock market jumped over 300 points.

This all documents for us how twisted our new reality has become. Just weeks ago, Americans were sent stimulus checks. Meanwhile, the Federal Reserve has been bailing out the country.

Better said, they are buying our assets with money that does not exist.

Negative Interest Rates

Today, I found three more articles discussing negative interest rates. They keep planting that seed in our mind. Negative rates will steal our wealth. Let me rephrase that, negative rates will steal more of our wealth, potentially, the last bit of wealth we have.

In the second article, Warren Buffet said he was wrong again. The second time I have heard him say that in just as many weeks.

He said,

“It’s remarkable what’s happened in the last 10 years. I’ve been wrong in thinking that you could really have the developments you’ve had without inflation taking hold.”

Everyone is going to realize they were wrong, about everything. We have had inflation for years upon years. Now we are hearing some economists say we will have inflation, while others say deflation. It very well could be a mixed bag affecting different sectors in different ways.

Time will tell, just know where we are, and where we could potentially be going.

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