Americans Have Already Skipped Payments On More Than 100 Million Loans, and Job Losses Continue to Escalate

by Michael Snyder
The Economic Collapse Blog

Those that have been hoping for some sort of a “V-shaped recovery” have had their hopes completely dashed. U.S. workers continue to lose jobs at a staggering rate, and economic activity continues to remain at deeply suppressed levels all over the nation. Of course this wasn’t supposed to happen now that states have been “reopening” their economies. We were told that things would soon be getting back to normal and that the economic numbers would rebound dramatically. But that is not happening. In fact, the number of Americans that filed new claims for unemployment benefits last week was much higher than expected…

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