According to U.S. financial website Zerohedge reported on Jan. 12, the new coronavirus pandemic has led to a wealth gap between the ultra-wealthy and others that is larger than ever. U.S. stock prices have soared to unprecedented heights in recent months thanks to the super-monetary easing and inflationary policies of the Federal Reserve and elites in Washington, pushing the wealth of the super-rich to dizzying heights, but 2020 is an unquestionable nightmare for other Americans.
As we discussed earlier, a new survey finds that 2020 will be a "personal financial disaster" for 55 percent of Americans. More than 110,000 restaurants are permanently closed, Americans filed more than 70 million claims for unemployment benefits last year, and tens of millions more could be evicted by landlords by 2021. But while the United States is mired in its worst recession since the Great Depression of the 1930s, the economies of those at the top of the wealth pyramid have been on the rise.
Earlier today, we saw a message from Sven Heinrich that 655 people in the U.S. have a fortune of $4 trillion, while 200 million Americans can't pay $1,000. A report released friday by Bank of America's Global Research Division noted that measures the difference between financial asset returns and economic health reached a record level of 6.3 times in 2020.
A brand new survey found that only 39 percent of Americans "will be able to pay an unexpected $1,000 fee," and according to a new survey conducted jan. 10 by industry body Bankrate, only 39 percent were able to pay an unexpected $1,000 fee, which is even lower than in 2020, when 41 percent said they could use savings to pay $1,000.
In other words, if only 39 percent of Americans currently have enough money to cover such unexpected expenses, that means 61 percent of Americans don't, according to Google's latest data, the current population of the U.S. is 328 million, while the 61 percent population of 328 million is just over 200 million.
According to the IRS forecast released in December last year, the situation of job loss in the United States may continue for several years, that is, the IRS believes that the tens of millions of unemployment in the United States, the prospects for the recovery of the UNITED Economy are very pessimistic, and the depression may continue until 2027.
In this regard, ZeroHedge's follow-up report said that some cities in the United States have a debt financial "atomic bomb", in the past six months, the United States has been due to debt and tax reasons and large-scale migration of rich people, affected by the new coronavirus, dollar debt bubble and public pensions and other debt deficits, thousands of millionaires are really staging the American version of Exodus.
By December 2020, more than 6,000 millionaires had suddenly fled Illinois, the largest exodus of wealthy from any U.S. city to date. Some economists linked to BWC Chinese network argue that public pensions have long been an atomic financial timing "bomb"... And it's getting closer and closer to the fuse now.
For decades, Americans have also been practicing the concept of early pleasure consumption, such as advanced consumption, debt, do not love to save money, etc. It is clear that at present, the United States is more and faster than a year ago, and it is currently an astronomical debt deficit of $27.7 trillion, and it is still growing, but Americans will never really pay it off, until the whole carnival becomes like a house of cards collapses, which will undoubtedly accelerate this process in the context of the new crown virus is still spreading in the United States.
A top model cited by the Hill capitol last week predicted that the United States is expected to enter the worst phase of the coronavirus outbreak in the next two months. According to Goldman Sachs forecast, up to 150 million people in the United States may be infected with the virus, according to the latest news released by a number of foreign media and US officials, the current MEDICAL system in the United States has been overwhelmed, and even some areas may collapse.
With the new crown virus in the United States in the rapid scale of the second spread, the United States media said that at present, the United States hospital wards have been overcrowded, in fact, as early as December 29 last year, the governor of California said that in the past two weeks, California has reported as many as 500,000 new cases, the next month will face nearly 100,000 new crown patients hospitalization situation, and with the holiday effect, it is expected that the united States infection with the new coronavirus will be more serious.
Now, many investors are deeply concerned that the resulting new economic lock-up, including agriculture, could once again devastate the U.S. economy, including agriculture, as the coronavirus continues to spread in the United States. Without more stimulus money from the federal government, more lockdowns would have disastrous consequences for U.S. commercial real estate and financial markets, according to CNBC.
Because the real economy of the United States has not yet recovered from the lockdown imposed earlier in 2020. While the U.S. stock market is approaching record highs, nearly 800,000 people are applying for unemployment insurance every week. Against these backdrops, the explosive growth in the number of coronavirus infections in the United States, the weak recovery of several key economic data, and the Fed's bottomless printing environment, dollar assets represented by US stocks have reduced their attractiveness, and we have not seen such a serious recession in the United States since the Great Depression of the 1930s.
Soros
In this regard, the Northwestern University economist Schönzenbach said, "I obviously see that the problem is very big, and this problem seems to be more serious than when the Great Depression was the most serious", it is worth noting that a number of Wall Street financial predators have issued warnings of a depression in the United States, for example, Wall Street financial giant Soros warned that as the US stock market hit a record high, the US financial market may once again enter the disaster minefield, at least about 26 trillion dollars of smell-sensitive funds are withdrawing from the US market. Turning to higher-yielding markets, even now, Wall Street institutions such as Morgan Stanley and Goldman Sachs are already expecting another decline in U.S. GDP in 2021, rather than a significant rise. (End)