THE BIDEN INVASION - Health inspections for foreign nationals entering our country illegally have gone out the window. That's enabled the importation of many diseases which affect livestock and other agricultural output, and already these things are happening. Legal immigrants and even returning U.S. citizens must pass these inspections to protect the U.S. food supply. But under Joe Biden's catch-and-release, illegals are exempt from such cumbersome requirements. MONICA SHOWALTER
Thursday, March 26, 2020
JOBLESS CLAIMS SOAR AS PELOSI, BIDEN AND TRUMP PUSH FOR MORE FOREIGN WORKERS TO KEEP WAGES DEPRESSED FOR WALL STREET
Bullard Says Unemployment Could Rise to 30%
Photo by John Vachon/Library Of Congress/Getty Images
The unemployment rate in the U.S. could hit 30 percent, Federal Reserve Bank of St. Louis President James Bullard said in Bloomberg News interview.
“This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole,” Bullard said. “It is a huge shock and we are trying to cope with it and keep it under control.”
That would be the highest rate of unemployment since the Great Depression.
Bullard said he expects economic growth to plunge 50 percent in the second quarter but for the economy to bounce back later in the year, so long as the appropriate measures are taken by the fiscal and monetary authorities.
“I would see the third quarter as a transitional quarter,” Bullard said. The next six months, however, could be very strong. “Those quarters might be boom quarters,” he said.
Bullard also said the Fed was far from being “out of bullets,” as some Fed watchers have claimed.
“There is more that we can do if necessary,” he said. “There is probably much more in the months ahead depending on where Congress wants to go.”
Jobless Claims Soar to 3,283,000, Biggest Jump Ever
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Jobless claims rose to 3,283,000 last week, reflecting only the first round of mass layoffs due to the coronavirus pandemic.
Jobless claims are considered the closest thing we have to a real-time indicator of economic conditions, reflecting claims from the prior week. Many pieces of economic data come out with lags of a month or more, which makes it had to rely upon them when the economy experiences a sudden shock.
The three million claims surge easily tops the 1982 record of 695,000.
Claims jumped in all 50 states and the District of Columbia. Nine states reporting increases of at least 100,000 from the prior week.
The largest number of claims came from Pennsylvania, with 378,900.
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