Alert! Eruption Of Business Closures And Layoffs Make 20 Percent Of Americans Out Of Money In 2020

A new stimulus bill is now out of sight, boosting a widespread businesses collapse and compromising many American households whose lives are hanging by a thread. In this video, we investigate the repercussions of this measure, how the economic collapse will be influenced by another coup, and analyze a very concerning survey that found one out of every five Americans will be completely out of money by the end of the year.
Delaying the urgently needed unemployment aid and a second round of payments will have a huge impact on tens of millions of out-of-work Americans who are coping with mountain-scale debt, the prospects of eviction and not being able to afford food.
The huge wave of job losses put those who worked in especially hard-hit industries such as travel and hospitality in a vulnerable position, making them reliant on another stimulus check to be able to make ends meet.
A recent report informed that almost one-quarter of U.S. consumers have less than three weeks of financial runway before they run out of cash, meaning 1 in 5 Americans could be entirely out of money by the first week of November. And things are about to get way more complicated – experts say “many will have to sacrifice and prepare because it could get worse before it gets better”.
And even though we want to believe there is an outlook where things could get better, considering the level of economic deterioration we have witnessed so far and the extra suffering we are being submitted to right now, it doesn’t seem realistic. In fact, it is an evidence that the economic depression is accelerating.
There is no way to certainly ascertain that economic conditions will get any better especially because an enormous part of the population won't be able to pull through without more emergency government assistance, and the pressure of all the unfoldings seen in 2020 keeps building up.
Americans are seeing their finances increasingly worsening during the current economic downturn. Now that stimulus discussions have been effectively suspended, and most of that previous relief has dried up, another wave of mass layoffs is about to be witnesses as the holiday season approaches. Airlines will be leading this trend.
The airline industry was unquestionably one of the most affected, the sector is dealing with a disastrous collapse. However, the desperate need for more aid is not exclusive to it. Every day, more businesses go under and more jobs are lost, and approximately 50% of all American small businesses from all sectors are in the same situation.
Furthermore, more families are struggling to pay their bills, make rent, afford basic needs. Their overall income is being pushed to below pre-outbreak levels, as a consequence, reducing spending and deepening the economic deterioration.
Fed Chair Jerome Powell said the U.S. economy still has "a long, long way to go", and it is at risk of derailing. Likewise, chief economist at RSM, Joe Brusuelas said there’s a 50% probability of a deep recession over the next 12 months. Also, the annual growth rate will likely drop to 1%, a sharp decline from the previous forecast of 4%.
With all that said, it doesn’t make any sense to be talking about a “recovery”, because absolutely nothing points out to one. At this point, we are still seeing small and large businesses collapse. Last month, 54 large companies filed for bankruptcy, totaling 509 registered bankruptcies so far.
Additionally, a Brookings survey reminded us that small businesses account for about 99% of all businesses in the US and about 47% of jobs in businesses, and their downfall mean that we have lost at least 4 million jobs that will only return with the creation of new businesses.
The most optimistic scenario would see around 50 percent more business losses than at the peak of the Great Recession, and while some businesses largely benefited from the crisis, most of the small ones are severely injured. Considering all industries will soon need federal help, and not everyone would be able to get it, what lies ahead of us is even more financial distress.

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96 comments

  • pirleau

    Going to be a lonnnnng winter.

  • Only One

    Operation dark winter here we come!

  • KING KONG

    *The government caused this, don’t forget that. While Americans are losing their jobs, homes, and paychecks the politician’s are still getting their paychecks.*

  • KING KONG

    *The government caused this, don’t forget that. While Americans are losing their jobs and paychecks the politician’s are still getting their paychecks.*

    • nazsmith

      @Andre Thorpe nah. Government literally forces citizens to use fiat currency. All the greed in the world has nothing on the use of violence to force the use of worthless debt based currency.

    • Andre Thorpe

      @nazsmith those who can control their ego and their desires find that they can navigate the pitfalls of the fiat currency system through fiscal management… It is the unbridled quest to satisfy unnecessary wants, not needs that cause personal financial instability.

    • Charles Spencer

      @Uncle Sam anybody could have the “best” economy ever, if there are millions of gig workers. Which is their 2nd or 3rd job. Just a shell numbers game

    • Uncle Sam

      @Charles Spencer THANKS TO TRUMP WE HAVE A BOOM IN BLUE COLLAR WORKERS THIS IS THE STRONGEST ECONOMY WE HAVE EVER HAD WE SHOULD ALL BE VERY GRATEFUL TO TRUMP FOR DOING A GREAT JOB.

    • MrLeafBeef

      Anything related on the gov hurts small businesses.

  • Jagzilla

    Just wait until 2021..That’s when the real economic down turn will come..

  • Breeze

    Had to come here to get my daily dose of depression and despair…

  • eric

    They trying to starve us to death

  • will edwards

    “Imagine if you will. The government forces you out of your job. It’s henchmen evict you from your house because you have no money to pay your bills…only in the Twilight Zone”…..Rod Serling

  • Maximum Militia Immaculatae Media

    Dude, the powers that be want the global financial crash. Both sides of American politics are brought and have been for decades. America is not a democracy

    • Maximum Militia Immaculatae Media

      Silver Liner my point was both sides of political governance, individuals who visually govern in top spots are lobbied by & supported (manipulated) by money with agendas – who’s owners remain hidden. Their agendas run deep across generations, and across sovereign boarders. And the closer they get to achieve their goal along what has become a set timeframe, the more brazen & desperate they become.

    • Silver Liner

      @Maximum Militia Immaculatae Media So MMI, you don’t believe in Agenda 21 and groups like Bilderberg, Illuminati, and other similar groups. Have you looked at the net worth of the central bankers? They are ready for total control and the digital dollar is the only way to achieve this goal.

    • Maximum Militia Immaculatae Media

      Silver Liner exactly and they own politicians

    • Silver Liner

      @Maximum Militia Immaculatae Media Now we are on the same page 👍

    • LAGN EUK 015845991

      ameriKa is a Corporation under England.

  • celtic spirit

    I am going to lay low during this Depression. I think people are going to lose their minds due to hunger and having no money left.

    • Charles Spells

      I want to see all the wannabe Rich boys lose everything I want to see their old ladies running the streets with the rest of the chicks barefooted I want to see all of them divorced

    • alice young

      cant help feeling they are not helping because something worse is coming that will make all this seem like a wonderful summer.

    • Blair Group

      Loving it…nothing makes me smile more than seeing those bearded losers who used to brag about their oil field jobs now penniless and living in their ford F-450 trucks 😆

    • Braveheart

      Get off grid and bring your fishing pole .. there’s plenty of critters to throw on the grill too

    • Charles Spells

      Hell yea

  • Alfred

    One would think these videos are sensationalism. *Unfortunately, it’s reality*

    • sam jordan

      There are PLENTY of jobs, but most snowflakes working @ Starbucks refuse to take them.

      There are business owners still out there due to their business being essential who are having trouble finding employees to help them get their increased workload done!

      HVAC, plumbing, roofing companies, etc., etc.

      Plus there are plenty of moving company jobs!

      Even Lowe’s is hiring, because they are overloaded with internet orders that involve store pick-up. (And unlike most other jobs from companies listed above, Lowe’s has awesome benefits by comparison.)

    • Peter Newton

      NWO
      Financial digital currency resetting
      Cashless society worldwide
      https://youtu.be/_dy1hgnDoPM

    • Jody Clark

      @sam jordan A lot of people refuse to stoop to working at a job making less than previous job. Others see the available jobs as beneath them.

    • ALL MIGHT

      @Concerned Citizen The fact that people don’t watch this is insane to me. Economic reckoning https://youtu.be/EJxBu7YChB0 is also another good one to check out.

    • Concerned Citizen

      @ALL MIGHT Roger that. No doubt about it.

  • Conger Scott

    Move in a van down by the river and don’t worry about it.

  • Toby Bratcher

    We are all in control of our own finances. I don’t see how $1200 is going to solve anything.

  • Scott Dean

    Wells Fargo looks like it is soon going out of business. I call it Karma. What goes around comes around. Maybe they should not have stole so much of its customers’ money.

  • vincentyeo88

    Restaurants are closing everywhere on a colossal scale of unimaginable proportion.

  • james young

    People still think I am crazy being 29 still living with my parents. Because it is going to take families to come together to get through this by heating the home and paying for food and stuff. I am not very rich at all. I don’t even live in a big city. I live in a small town of 300 people. I know how to hunt and fish and grow a garden. And ever since I was listening to this guy for 3 years I have been preparing for a crisis for now. Do I have everything I need. No. But I have enough to get buy. I consider myself blessed. I can live without internet. I can live without eating out. I can live without many things. I grew up very poor my whole life. I can make food for cheap. People survive in third world countries by helping family out. America has forgotten this. Chasing big houses, big car, Big this, big that, Never happy living in greed and corruption. I don’t want to get into any more dept. which is hard. But I refuse to take a loan out. I rather be low class then High class that lose everything and hang themselves by a rope because they cannot meet their lifestyle.

    • Louisa Lake

      Respect to you, I live in the caribbean, and we are not rich, but have learned to live within my means,I’m 32 and still live with my mom my daughter and my 3 siblings,and I’m not planing to move out anytime soon.

    • james young

      @Louisa Lake Much respect to you as well. If you live near a river or ocean. Get a fishing pole and hooks and stuff to fish and a good knife for self-defenses like a manchette. We can survive this but it going to take other people to help each other out during this crisis. What ever goods you have trade it with others and share. You live in Caribbean. Grow some bananas for food and even rice and potatoes and curry. I live in a subtropical eviroment and there is plenty of Deer and small game to feed my family. I can grow a garden and feed my family. I am lucky to live in the middle of no where. And you are right. Live by your means of living. But make sure you have your fishing poll and learn how to make hooks and bait for survival. You can make hooks out of wire, scrap metal, nails, clothes hangers and even wood and bone. Learn some skills how the eskimos from my country and Canada make hooks even the ancient Polynesians. There is many great skills and primative techniques to provided for your family. With much prayers to you are your family.

    • james young

      @Louisa Lake Also another think You can make fishing line out of fish gut. and you can also use fish guts and othe rparts to make fish oil to light your house during a power outage. YOu just boil the fish gut and let the oil rise and you can make lamp oil out of it. Other fish guts you can trap crabs and other shellfish. There is plenty of skills to learn my dear sir and learn your area.

    • Cindy N

      There’s nothing wrong with living with your parents.

    • james young

      @Cindy N I know. I quite enjoy it to be honest. It is going to take a family to survive to provided for food and stuff when ever this market is going to crash.

  • Jon Cabot

    The US is spiraling out of control. THE US WILL COLLAPSE

  • Peter smith

    I don’t know who needs to hear this, just got into Bitcoin trading and i made my first profit wish I knew about this earlier!!

  • ea villacorta

    This is global. No way out except to do what the people of France are currently doing.

  • joachim dass

    When are people going to start protesting against the banks and the feds.

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