Greg Hunter’s Weekly News Wrap-Up for April 24th, 2020
by Greg Hunter
I’ve long said we would be seeing deflation (bankruptcy) and inflation (stimulus) before it was all over. It’s not going to be one or the other but both financial phenomenon at the same time. That is exactly what is happening now. Majority Leader of the Senate Mitch McConnell is saying indebted states should go bankrupt, and the President just signed yet another half trillion dollar stimulus package created from money out of thin air. That’s debt destruction and massive money creation. What could go wrong? It’s far from over, and we are just getting started.
In the Great Depression, it took nearly three years for the country to sink into a 25% unemployment rate, which would leave 12 million Americans out of work at the depths of the depression. Today, unemployment is standing at 26.4 million Americans who lost their job in little less than a month and a half. According to Shadowstats.com, the USA is already standing at an actual 23% unemployment rate. What will it be in three years?