Well the news is out.
U.S. Economy Posts Sharpest Downturn on Record, says the Wall Street Journal. “The U.S. economy contracted at a record 32.9% annual rate last quarter and weekly jobless claims rose to 1.43 million amid signs of a slowing recovery.”
By now of course, everybody knew something along these lines was coming.
At least I think they knew.
Or should have known.
We knew. Way back when.
June 14 – Wall Street Examiner – These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy
June 16 – Wall Street Examiner – Retail Sales Chart Reality and Rah Rah COVID 19 Superspreader Rallies
June 20- Wall Street Examiner – US Economy Is Collapsing In June, It’s The Virus, Mo Ron
June 20 – Liquidity Trader – The Virus Is the Economy
“The current year to year decline in total Federal tax deposits is now running at -35%. That’s not a
recession. It’s a Depression with a capital D.”
Nailed it.
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