{"id":18694,"date":"2020-07-10T17:58:14","date_gmt":"2020-07-11T00:58:14","guid":{"rendered":"https:\/\/setapartbytruth.org\/wordpress-watchman\/?p=18694"},"modified":"2020-07-10T17:02:45","modified_gmt":"2020-07-11T00:02:45","slug":"the-u-s-economy-hasnt-experienced-anything-like-this-since-the-great-depression-of-the-1930s","status":"publish","type":"post","link":"https:\/\/setapartbytruth.org\/wordpress-watchman\/the-u-s-economy-hasnt-experienced-anything-like-this-since-the-great-depression-of-the-1930s\/","title":{"rendered":"The U.S. Economy Hasn\u2019t Experienced Anything Like This Since The Great Depression Of The 1930s"},"content":{"rendered":"

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Michael Snyder<\/a> – July 7, 2020<\/p>\n

The recession of 2008 and 2009 was bad, but it was nothing like this.\u00a0 Even though this new economic downturn is only a few months old, we are already seeing numbers that we haven\u2019t seen since the worst parts of the Great Depression of the 1930s.\u00a0 More than 48 million Americans<\/a> have filed new claims for unemployment benefits over the past 15 weeks, well over 100,000 businesses have permanently closed their doors, and civil unrest has turned quite a few of our major cities into war zones<\/a>.\u00a0 But not all areas of the country are being affected equally.\u00a0 For example, there are rural areas that haven\u2019t really seen a lot of COVID-19 cases where life seems to have changed very little from six months ago.\u00a0 On the other hand, some urban areas that have been hit really hard by COVID-19 have been absolutely devastated economically.\u00a0 For example, the New York Times is reporting that a million jobs have been lost in New York City, and the unemployment rate for NYC \u201cis hovering near 20 percent\u201d<\/a>\u2026<\/p>\n

The city is staggering toward reopening with some workers back at their desks or behind cash registers, and on Monday, it began a new phase,\u00a0allowing personal-care services like nail salons<\/a>\u00a0and some outdoor recreation to resume. Even so, the city\u2019s unemployment rate is hovering near 20 percent \u2014 a figure not seen since the Great Depression.<\/em><\/p>\n

We are going to be using the phrase \u201csince the Great Depression\u201d a lot in the coming months.<\/p>\n

http:\/\/theeconomiccollapseblog.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Michael Snyder – July 7, 2020 The recession of 2008 and 2009 was bad, but it was nothing like this.\u00a0 Even though this new economic downturn is only a few months old, we are already seeing numbers that we haven\u2019t seen since the worst parts of the Great Depression of the 1930s.\u00a0 More than 48 … Continue reading The U.S. Economy Hasn\u2019t Experienced Anything Like This Since The Great Depression Of The 1930s<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[19],"tags":[14826,36,149,7260,152],"class_list":["post-18694","post","type-post","status-publish","format-standard","hentry","category-watching","tag-covid-19","tag-disaster","tag-economy","tag-great-depression","tag-recession"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8fAkI-4Rw","_links":{"self":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/18694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/comments?post=18694"}],"version-history":[{"count":1,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/18694\/revisions"}],"predecessor-version":[{"id":18696,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/18694\/revisions\/18696"}],"wp:attachment":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/media?parent=18694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/categories?post=18694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/tags?post=18694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}