economy

‘Back-Of-The-Envelope’ Math From St. Louis Fed Shows US Unemployment Rate Surging To 32%

"These are very large numbers by historical standards".

"These are very large numbers by historical standards".
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2 comments on “‘Back-Of-The-Envelope’ Math From St. Louis Fed Shows US Unemployment Rate Surging To 32%

  1. Just another example of how anything short of UBI will be an absolute disaster. As with your article on state unemployment funds… nothing exists to prevent wholesale financial ruin and homelessness for a massive number of people.

    • Right on. Instead of a simple, universal, bottom-up, demand-focused approach, Congress of course finds a way to overcomplicate a crisis by means testing measly one-time payments, and forcing unprecedented administrative strain on state unemployment processes built to handle a few percent of the reality. If a rent freeze isn’t passed soon for at least New York, to accompany the mortgage relief there last week, I’m afraid we won’t any longer need to recall Watts, Detroit, Newark, Ferguson to visualize what a city looks like as it burns.

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