On the surface the US economy looks shaky, propped up with trillions of dollars in funny money. Beneath the surface, it’s far worse. From Michael Snyder at theeconomiccollapseblog.com:
If you know people that actually believe that the U.S. economy is moving in a positive direction, just show them this article. In all the years that I have been writing about the economy, I have never seen anything that even comes close to what we are experiencing now. More than 100,000 businesses have permanently failed, and tens of millions of Americans have lost their jobs. If you still have a good job you should cling to it with all of your might, because there are so many families that have no idea how they are going to pay the bills next month, or the month after that, or that month after that. When it gets to the point where you can’t even pay the rent or the mortgage, financial worries can absolutely consume your life. If you have been there, you know exactly what I am talking about. And if you have children, that just makes things even worse. How do you explain to them that “home” is no longer “home”?
Another group of people that I feel really badly for are all the business owners that have had their dreams absolutely shattered. Starting a small business from nothing and building it into a success takes a massive amount of work, and I have a tremendous amount of respect for anyone that is able to do that.
Unfortunately, so many once thriving small businesses have now been destroyed by the events of 2020. For a lot of those small business owners, it isn’t just time and energy that have been lost. When you make your small business your passion, it becomes a part of who you are, and a lot of small business owners will never be the same again after this.
So please keep in mind that there are real people and real dreams behind each of the numbers that I am about to share with you. The following are 17 facts that prove the U.S. economy is a complete and total disaster zone at this point…
#1 According to the San Francisco Chamber of Commerce, more than half of all the storefronts in the entire city of San Francisco are no longer in business.
#2 Just a few hours ago, New York City reported that it had an unemployment rate of almost 20 percent during the month of July.
#3 Speaking of New York, 83 percent of all restaurants in the city were unable to pay their full rent last month.