In America – the dawn of a civilian catastrophe is being realised
An Indiana economics professor predicted on Sunday that the coronavirus pandemic could cost the U.S. $7 trillion, and by June the domestic unemployment rate will be larger than at any point since the Great Depression. In the meantime, the realisation of what is approaching has only just reached a now frightened President, who has issued secret orders to facilitate a military takeover of the US in the event that civilian leadership is incapacitated.
With confirmed cases of COVID-19 rapidly escalating across America, federal and local governments have finally moved to suspend domestic large sector activities to contain the outbreak. And as bars, malls and dine-in establishments continue to close around the country, millions of Americans have either already been laid off from their jobs or could be quite soon.
“Without vigorous steps, the CDC estimates the COVID-19 will infect 70 to 150 million Americans in the next few months, of whom 80 per cent will get sick,” Michael Hicks, director of the Center for Business and Economic Research and professor of economics in the Miller College of Business at Ball State University, told Newsweek. “Of those who fall ill, 5 per cent will need hospitalization and 1.2 percent will die. This would have enormous economic costs.”
“Economists place a dollar value on human life in order to help balance the benefit of life-saving regulations and their inevitable costs,” he explained, “Using these estimates, the deaths projected from the COVID-19 disease could easily cost the U.S. over $5 trillion.”
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Medical expenses to treat infected people could cost an additional $2 trillion, Hicks added, noting that these estimates are optimistic. “We are in a recession, which will be a very deep one,” Hicks said. “As of March 1, the U.S. had 2.66 million waiters and waitresses. Nearly all of them are now unemployed. The U.S. unemployment rate will double in two weeks, and rise to double digits by May.”
The Trump administration has issued secret orders to facilitate a military takeover of the US in the event that civilian leadership is incapacitated
Goldman Sachs economists last Friday forecast a massive 24% decline in second-quarter (Ap/May/June) gross domestic product and also confirm a huge surge in unemployment. The state of California issued a stay at home order for its 40 million residents, and on Friday morning, New York state said it was mandating 100% of the workforce to stay home, excluding essential services.
Bloomberg reports that the mutli-billion-dollar commercial mortgage market in America is already on the verge of collapse and ready to implode. Real estate billionaire Tom Barrack said the U.S. commercial-mortgage market is on the brink of collapse and predicted a “domino effect” of catastrophic economic consequences. Barrack, chairman and chief executive officer of Colony Capital Inc., warns of a chain reaction of margin calls, mass foreclosures, evictions and bank failures.
After Donald Trump’s constant denials and blame-gaming, his meandering and poorly managed administration has issued secret orders to facilitate a military takeover of the US in the event that civilian leadership is incapacitated during the coronavirus crisis, a report says.
The orders would kick in if disease or violence arising from the pandemic rendered Washington impotent and prevented devolution of power to civilian leaders in the regions.
The United States would then be placed under the authority of Terrence O’Shaughnessy, a four-star general and former fighter pilot who is the designated “combatant commander.”