Another 890,000 Jobs lost last week. At this job loss rate, we are very likely to see 40 million Americans will be unemployed or dramatically underemployed by January 20, 2020, Inauguration Day. The death toll from Covid-19 by then at the current rate will have climbed to over 320,000, and those infected in the United States will reach 12 million.
Could the economic and health crisis underway since March become even worse? The answer is not just yes but the economic impact and the number of those who die and are permanently saddled with a lifetime of pre-existing conditions from the coronavirus thanks to President Trump’s insanity.
The President has adopted the herd immunity strategy pushed by his new medical advisor Dr. Scott Atlas, whose views on Covid-19 and school re-openings more closely match his. After seeing him several times on Fox News, Trump enlisted Dr. Atlas, where he gets most of the people he hires for his administration.
Dr. Atlas is not qualified to give any advice other than people should wear a mask to protect himself; the advice he refuses to give. Atlas is a senior fellow at Stanford University’s Hoover Institution, a conservative think tank; Atlas is not an infectious disease expert; he’s board-certified in diagnostic radiology, which means he specializes in reading and interpreting imaging like X-rays, CT scans and MRIs. He served as a professor and chief of neuroradiology at Stanford University Medical Center from 1998 to 2012.
Dr. Atla’s push to adopt a herd immunity strategy has virtually no legitimate support from medical experts in immunology or viral disease. His herd immunity strategy would allow all 330 million people living in the United States to become infected. It could kill hundreds of thousands, if not millions of Americans in the next 12-24 months.
A herd immunity approach will not only lead to 40 million unemployed, 320,000 dead, and 12 million infected. It will also lead to an economy in recession, slipping into becoming an economy in a depression. The herd immunity will…
- Collapse our hospital system across the country, in which 36 states are already experiencing massive increases in hospitalizations and ridiculously high rates of infections.
- The travel ban in place, preventing U.S. citizens from virtually the entire world, will not be lifted for another 24-36 months. The impact on airlines and other businesses will devastate the U.S. economy and lead to negative economic growth in 2021 that will rival what occurred during the great depression.
- The collapse of U.S. involvement in NATO.
- One or more wars that will put the world on the precipice of a third world war. A world economy pushed into an economic depression will unleash old and new conflicts.
- The price of oil will collapse and further damage the U.S. economy.
- Corporate and personal bankruptcies will soar and with 40+ million unemployed and another 20 million pushed into the discouraged worker category, we could see the United States lose its reserve currency status. This would inevitably lead to skyrocketing interest rates or, conversely, a complete collapse of the U.S. dollar.
Federal Reserve Chairman Jerome Powell’s begging for Congress to pass another stimulus package and a large infrastructure bill may seem to many as desperate and frantic. To those who believe his calls to be desperate and frantic, they are right. Powell understands the danger zone the U.S. economy is in. Powell gets it and knows the U.S. stock market’s major indices have been inflated into a giant bubble that will pop if Mitch McConnell and Market Meadows don’t pull their heads out of the asses quickly. Mitch McConnell’s offer of $500 billion amount to his tells American’s in distress to no fault of their own amounts to him telling them to drop dead.
Democrats have defended their $2.2 trillion coronavirus stimulus bill – The Washington Post