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Mother Of All Depression ........tasman1

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#1 by tasman1 » Thu Apr 09, 2020 19:14

They say big recession is coming I say mother of all depression is here....Once this is finished over half of world population will live in poverty


US unemployment is rising at a jarring rate, with data released Thursday showing 17 million people have lost their jobs since mid-March as officials scramble to apply a tourniquet to stem the damage from the coronavirus pandemic.

The Federal Reserve launched a series of new lending programs Thursday to pump $2.3 trillion into the damaged US economy, but Fed Chair Jerome Powell tried to offer reassurance, saying the recovery could be robust.

The Fed's announcement came at the same time as the Labor Department's latest weekly report showed 6.6 million more people filed for unemployment benefits last week, following 6.9 million in the prior week and 3.3 million in the week ended March 21.

That is a stunning reversal for the world's largest economy where the jobless rate was near historic lows before it was forced to shut down to stop the spread of COVID-19.

Analysts expect the malaise to persist for months, with the jobless rate surging into double digits in April

The unemployment data indicate the coronavirus pandemic is set to eclipse job losses from the 2008 financial crisis, and International Monetary Fund chief Kristalina Georgieva warned Thursday that the world faces the worst global emergency since the Great Depression.

The 17 million total unemployed in the US is just over half the nearly 30 million in job losses we expect to result from the spread of the coronavirus, which would be three times the number of job losses that occurred" during the last recession, Oxford Economics said, projecting the unemployment rate reaching 14 percent in April and 16 percent in May.
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#2 by Arvind9 » Thu Apr 09, 2020 19:38

If 17 million job losses in three weeks only in the US,and will keep rising if lockdown continues for long,Italy needs help from EU Germany says its impossible the Italian government goes crazy,now just imagine what is going to happen in developing countries maybe people cannot see the Tsunami that is going to sweep everyone,governments will have tough time maintaining law and order,100000 already dead from virus in the whole world maybe its not being shown correctly
Last edited by Arvind9 » Thu Apr 09, 2020 19:42 » edited 1 time in total
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#3 by sreejathan » Thu Apr 09, 2020 20:57

The death toll may thrice the actual number. Anyway the coming years will tough for the entire world
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#4 by sreejathan » Thu Apr 09, 2020 23:43

The UN secretary general has warned today that the terrorists may use covid virus as a biological weapon in the wake of governments of all countries engaged in controlling that. This will lead much catastrophe than expected. So he has warned everyone to be in vigil.
I Can't imagine such a situation when the whole world is sinking in darkness. If such situation arise then that will will lead to another war situation. And poverty will be the main issue for nations. Really troublesome are our coming years
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#5 by Arvind9 » Fri Apr 10, 2020 01:37

Another problem has been discovered the ozone layer at the Attic has been breached large hole has in the ozone layer has been seen the Attic circle is supposed to repair the damage that is what scientists hope will gradually happen if not then it will create more problems for life on earth initially causing health issues like skin cancer if it gets worse many species will start getting extinct slowly bringing the end of life on earth
Last edited by Arvind9 » Fri Apr 10, 2020 01:48 » edited 1 time in total
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#6 by sreejathan » Fri Apr 10, 2020 06:27

Extinction has already started .you can expect complete extinction of humans by 2070 if pollution and luxurious life goes on this way
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#7 by Arvind9 » Fri Apr 10, 2020 06:41

What do surveys ask nowdays,will you be able to pay your bills,you must be having a fan in your house it will be good enough to keep drying up your sweat in the hot summer,many bank accounts linked to digital payment is getting hacked money from bank accounts are dissapearing dont link anything to your bank account,when your card is being swiped or you are entering your pin look above for a CCTV
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