. . . Part of it involves how the BLS treats the many millions of people now on furlough and not being paid. They are considered “unemployed on temporary layoff.” But if BLS expects them to return to their old jobs, based on the survey, they do not count among the unemployed. . . .
And there are more parts to it.
Of course, once the virus is no longer a threat, or ways are found to get people safely back to work even while it is (or ways are not found but they have to go back anyway), the unemployment will fall.
It will be hard to see that as a great achievement, though, it having left us trillions of dollars deeper in debt as a nation . . . with so many families and businesses having depleted their savings or themselves gone deeper in debt . . . and with so many kids stunted in their educations . . . and, of course, with so many tens of thousands of deaths that could have been averted.
Andrew R.: “In Idaho, militias are openly on patrol to keep out Antifa, which wasn’t coming. It reminds me of the guy on a park bench scattering torn newspapers around it. Asked why, he said it was to keep away the elephants. Told there were no elephants in the area, he says ‘See? It works.'”
Stephen P: “It’s like a scene out of the old movie, The Russians are Coming! The Russians are Coming!”
→ Except now, of course, after a fashion, they are. Putin is succeeding beyond his wildest dreams.
Meanwhile — to make your Monday so dark Tuesday can only get better — Meet The Hidden Architect Behind America’s Racist Economic System. I had never heard of him. Arguably, though no longer living, he’s had an enormous impact on our lives — and it’s not over.
Quote of the Day
I sincerely believe … that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.~Thomas Jefferson
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