The Atlantis Report and SRU Saturday 1-9-2021
The Atlantis Report
A New Pork Stuffed Stimulus Bill is Passed, Creating More Debt and Inflation.
The Atlantis Report: Premiered 4 hours ago
A new pork stuffed stimulus bill is passed, creating more debt and inflation , and sending The Markets to an all time high. The Dow Jones industrial average, the S&P500, and the NASDAQ all three major stock market indices closed at new all-time record highs on Monday.
As the lawmakers in the House of Representatives passed a standalone bill that would raise the direct payment amounts distributed to American households under new COVID-19 relief legislation to $2,000, from $600.This is a recipe for inflation .
I don't have a problem with $2000 checks to try and compensate for the forced lockdowns, it was our money to begin with, and they're simply giving some of it back to us.
But the pork spending that shouldn't happen, even in the best of times, it's wasteful and a slap in the face to those paying the taxes.
My very reasonable guess is that helicopter money will barely filter down to the hoi polloi and their riff-raff businesses.
Jobs Report Reveals Massive Job Losses In Leisure & Hospitality -498,000, Huge Miss Of Expectations
Silver Report Uncut: Jan 8, 2021
The jobs report was a huge miss of expectations and it came in at a decline of 140k jobs. Many sectors did see growth as they are considered essential while the job losses were concentrated in the leisure and hospitality sector as hotels and the restaurant sector continues to bleed jobs as customers look the other way in response to the current dilemma.
This is likely to get worse as the terrible retail sales for brick and mortar is likely to spur cost-saving measures from many retailers and as we've seen we had two years in a row of record store closures! Goldman Sachs was the closest estimate projecting a loss of 50K but the overwhelming consensus among Wall Street Banks is the US would see a gain of 50K jobs.
Our economy continues to decline and all we hear is a song from the fed about how everything is great!