While the pace of layoffs is slowing, the country should expect the rate of hiring to be modest, Steve Rattner shows in new charts on the economy. Rattner says that by Election Day, unemployment likely will still be in double digits. Professor Jason Furman also joins the discussion. Aired on 05/29/2020.
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Rattner: Double-Digit Unemployment Likely In November | Morning Joe | MSNBC
Middle class is hit
WHO WHERE i’M MIDDLE CLASS AND DOING JUST FINE, i DON’T KNOW ANYONE THAT IS HIT, PEOPLE ARE MAKING MORE ON UNEMPLOYMENT THAN THEY WERE AT THEIR JOB. yOU HAVE TO GET OUT OF THE FANTASY WORLD.(INTERNET)
@odell daniel WOW So we are in Martial law. Wow. We Americans been played.
It should read as follows: From Homeless and unemployed, to Working and Middle Class, to Bezos, Gates, Buffett, Ellison, Zuckerburg, Waltons…USA extreme disparity, looks good, but it’s rotten
odell daniel then tell me, are you more financially independent then you were in 2016? His claims about building the economy are just more of his fog.
@odell daniel Living in the biggest trailer at the trailer park is not “fine”
V shaped recovery? This guy sounds like a lunatic. Is he living on the same planet as we are? The economy is in the toilet. The economy will be in a protracted downturn.
@Mike Higgins I think you’re wrong, and here’s why: The US dollar’s value has for decades been pegged to the price of a barrel of oil. That’s why it’s called the “petrodollar.” Well, demand for oil has plunged, while the supply actually went up, recently causing the price of oil to dip below $0.00 per barrel. Simultaneously, other oil producing nations are actively seeking to unseat the dollar as the world’s reserve currency. If and when that happens – and, all this money printing is going to make it happen much faster – look out! All those trillions of dollars being held all over the world will start finding their way back to our shores – because, they will no longer be needed. And, it will be Zimbabwe, here! It is only because other currencies are ALSO undergoing this same collapse that has postponed the inevitable – but, the dollar has a lot further to fall and it’s going to collapse a lot faster.
Richard Owens Have you travelled to other countries? The situation in other places on earth make the US with its 30% unemployment look like a paradise. There is lockdowns every day in other parts of the world. The reality is that we are the least horrible country.
Mike Higgins then you weren’t really listening. A recovery of some sort is inevitable. But trump isn’t the reason why.
Yes 41 million Americans unemployed
With What Economy
JSK Some kind of recovery? We need a broad based recovery that includes everyone not just a small minority of people at the top.
We wouldn’t have to pay $ trillions in business stimulus, pay unemployment for more than 41 million workers or suffer a deadly second wave virus outbreak if we had competent OSHA regulations and quality PPE available to the public to prevent virus transmission in our crowded workplaces, hallways, elevators and on public transportation. Testing would help but it is untimely and won’t stop virus transmission, particularly from asymptomatic carriers, so it would be cheaper to just issue a month’s worth of PPE designed for pandemics instead. With enough properly designed PPE and the regulations for its mandated use in all hazardous conditions, we can work, commute, shop and play safely. You could buy a PPE kit for 3,000 people for the cost of one COVID hospitalization and we pay for that too when victims don’t have insurance because they’re recently unemployed. MANDATE MORE PPE PRODUCTION, NOT DEATH AND DESTITUTION, because an ounce of virus prevention is worth a ton of cure.
THE VIRUS HAS BEEN HERE FOR YEARS, THE BOUGHT AND PAID FOR W.H.O. GAVE IT A NAME AND WALLAH WE HAVE AN ECONOMY CRASHING PANDEMIC, ALL PREMEDITATED
@Luis Boqcas The GOP would rather see millions die than regulate industry with OSHA regs that would require medical grade PPE whenever people couldn’t be socially distanced. That’s really just about everywhere because no buildings have hallways that are 9 feet wide. (6 ft. shoulder to shoulder). Medical grade PPE would have to include eye protection, gloves infused with persistent disinfectant and HEPA filters on both air intake and exhaust valves.
@odell daniel I think all caps should be the international watermark for “This is rancid nonsense.”studies have shown that a staggering 90% of these posts indeed are rubbish, with some military generals slyly electing to secret sensitive military grade information among the overwhelming drivel.
That would be too much like right!
Very True
Much of the stimulus money went straight to support the stock market – so, Trump can pretend that all is well!
J F A S H there are still 1000s of small businesses that applied that are yet to see one dollar. But they still must adhere to the rules requiring them to keep employees on the pay roll. How is this fair? Try reading past the headlines.
@Kyle Gross Did you take into account of the facts I gave you in the previous comment? By the way smart guy if you check these companies history you would find discrepancies before all this! Come back when you have studied thorougly the history of these stocks!
@Kyle Gross Common sense will tell you that you cannot crash an economy because of FEAR that has been falsely jacked up by liberals all because this is their best effort to have a chance at the WH! Who is really responsible? LIBERALS! hillary clinton said this ” LET US NOT WASTE THIS OPPORTUNITY “
Richard, excellent point!
Richard Owens Newsflash to dumbshits like you. No companies no jobs. Where did all of Obama’s shovel ready stimulus money go? I never saw a single road, bridge, dock, building built with those billions.i know billions went to blue state pension funds for government employees.
100,000 deaths, massive unemployment, and now four rogue cops act out Trump’s most lurid fantasies. Just what Putin wanted. Remember The Summer of Love in the sixties? This could out to be the Summer of Flames and Blood. Come to think of it, maybe this will give Trump the chance to turn himself into Pinochet, which is what he’s always wanted.
Erm what? What do the cops actions have to do with Trump? The killing of eric garner, philando castile, tamir rice and so many others, where the cops then fulfilling Obama’s fantasy? what is wrong with you lunatic leftists?? Stop, get some help
PUTIN IS SMILING…OPERATION
” DESTROY FROM WITHIN”
IS ALMOST COMPLETE.
AGENT KREMLIN TRUMP HAS SERVED THE FATHERLAND WELL.
Agreed Daniel except for the PINOCHET part because Trumpty has no clue who that is. He is dumber than a box of rocks. He didn’t know Lincoln was a Republican, he doesn’t know the difference between viruses and bacteria, he seriously proposed disinfectant and light as a cure/treatment, he stared at a solar eclipse, he threatened to shut down congress (no power to do so) because he doesn’t like what VOA says about his boyfriend PUTIN, he just threatened to use NG –he can’t. He could federalize the guard but he can’t order them as part of the State NG..and on and on and on. No matter…his stupid America hating cult are all in as long as he hates on minorities and immigrants…
@J F A S H By help do you mean injecting disinfectant and putting ”light” into the body? Perhaps, you mean staring at a solar eclipse? BTW did you know Lincoln was a Republican? (That is sarcasm) What isn’t is seriously proposing disinfectant and light…BTW don’t worry the numbers are going down! Xi is doing a great job! And a pandemic plan in Trump world = holding 10 rallies. What is it with you lunatic cult members? Stop, get some help! 100k dead Americans vs Germany and S. Korea death toll = Dumbest most inept president in history.
Trump truly has turned America into a petty banana republic!
The Millionaires and Billionaires got
their Much Needed Bailout Checks.
Screw the Rest……😎✌
@odell daniel 👄 Without consumers having money to spend, the corporate bailouts are a total waste of time and resources!! What don’t you understand about a consumer economy?!!!
This is what the stupid peasants voted for-so f**k off
Alisha Monique most small business owners are not millionaires.
@Rene Curry bingo
@odell daniel Looks like they don’t provide for your spelling lessons.
I tuned out after “infinity percent”. 🙄
June may be much worse economic then last past month’s.
Optics is all trump cares for. Make-believe. Magic!
Magic is different from make believe.
Goes really well with his Sudafed, Adderall, and luscious Arden pink lips 👄
@luminositymusic BrianPRickard Not to trump.
Ganiscol lots of people can’t see past the optics. Sad but true.
He often looks high. We know he’s twisted.
GOP Slipping Away
Suits them fine – they truly have become the banana republican party 🍌 poor Ana Navarro, that’s what her family fled from!
@Jakob Peter Raahauge covid 19❤democrats
Gone Over Pandemic.
Not fast enough.
So trump and his Republicans made sure the big corporations and the rich got their money, and more money, and then bailouts. Yes the stock market will look great, but that does squat for the other 95% of Americans. 1 out of 4 Americans are out of work…
Let’s face it, this man and his administration are not able to do for the economy what Obama and his administration did.
defcon six you can’t really be that stupid… Fox isn’t even allowed to be aired in some countries because of all the lies and misleading crap they spew. They aren’t even considered “news” because of the lack of actual journalists- all they have are opinion shows (except maybe Cavuto…). At some point you have to accept that if all but one channel is “fake news” to you, you are watching the wrong channel.
@Amy Falkenrath Shep Smith was news, and Chris Wallace still speaks truth to power, now more than ever. The rest is straight propaganda.
Of course he can be that stupid. He’s a trump supporter. He’s never fact checked trump in his life. He lives on trump’s lies and fear mongering. I have yet to find a single trump supporter who said he actually gave trump a thorough vetting. I have asked over two thousand of them. Not one of them. Nor have they ever questioned ANYTHING he does or says. Almost like they are in a cult.
This POS will never do anything but fill the pockets of the ultra rich!
@defcon six that name suits you very well.
@John Edward ebola death rate, 2! Do the math trollls!
Statistics are deceptive and easily spun! Think about this 50% down will need a 100% gain to return to the same value!
lots of patience and saliva will prove helpful….
Ha ha yea they are.
Gato, Huh?
Horice Black I wish more people were capable of understanding this. Trump will take credit for job gains. What needs to asked is “is your life better than it was in September?”
Because of Trump, 40,000,000 people lost their jobs. Most of them will be unemployed on November 3, 2020 with all day long to go vote.
@Christien du Preez Voting republican is voting in favor of big corporations and the 1% and against the needs of the middle class, like social security, living wages & affordable health care. But hé you must be a wise super rich person……
Frank ten Horn You mean Joe China Biden that sold out US manufacturing and good paying middle class jobs to China and Mexico? With NAFTA and allowing China into WTO.
@rolback That’s old news get over it.
@rolback At least he would have paid attention to his advisors and not killed tens of thousands of innocent Americans.
Frank ten Horn democrats and republicans are for the same… you need to get educated
Fox News you created a Monster, and they call him Pumpkinstein..
@avburns yep, good eye!
@biden_dimentia2020 even with dementia Biden is 10000 TImes the Man, Pumpkinstein will ever be, as for the Greatest President in the last 50 years, Wish Obama could rerun. Now He, could fix this mess.
@biden_dimentia2020 The thread was not about Obama. Learn how to read. And try to keep up. Whataboutism doesn’t cut it. I’m sure you don’t even know or understand what “Obamagate” is about, and I assume that is to what you are referring. It’s already disproven anyway. There is an existing correspondence, from 2016 to prove there is no Obamagate.
@biden_dimentia2020 ha ha ha ! what crime? wearing a tan suit… trump commits crimes on a daily basis. and if you don’t believe that, I have a bridge to sell you – it’s about the same color as the shinola on trump’s face.
@J D Hannity- calamity – good one. question: does Hannity speak Russian or does he get his communications from Putin in English?
OMFG – Every Repug leaves the USA stuck with a Recession Bush 41, Bush 43, and now Chump & Putz….
scottybee33 5 months ago you said this was Obama’s economy? What happened?
@rolback Trump fugged it up DUH!
@rolback you are skipping over about 150 years of history, moron.
@rolback Trump’s failure to launch an adequate and concerted response to the looming Covid-19 pandemic, that’s what happened.
rolback what happened was you aren’t smart enough to understand that people were saying that the reason the economy as good for trump at the beginning is because it was following trends that started while Obama was president. You don’t see the results of a new president until the second or third year in their term or sometimes not even until the second term. This is trumps 3rd/4th year and now we are seeing trumps policies and actions flush our economy in the toilet. The tax bill caused more companies to move over seas and lay off workers. His trade war with China caused numerous small family farms to go bankrupt and he borrowed money from China to bail them out.The stimulus bill gave more money to corporations and Wall Street than small businesses. His lockdown over the wall wiped all economical gain for that year. His negligence over the coronavirus left 41 million people without a job, destroyed the middle class and left 100k people dead. Our economy will not recover from this for years if not decades.
When huge companies like Boeing lay off thousands, we know it will take years to get back to where we were no matter which party wins, if we stay in the same tried-and-true routine.
You cant predict these numbers when you have COVD19 looming around the corner.
Covid 19 and democrats deserve each other
Everything Trunt touches dies
236 days until January 20, 2021 when the gangster in the White House (Traitor Trump) will be gone. We need to
remove all Republicans from office in the November election. The health of Americans, democracy, and the world, depend on it.
The Republicans have done more damage in the last four years than Putin ever did. Remember that (R) stands for Rich, Regressive,
Repugnant, and Russia.
THE SMOLDERING PRESIDENCY: WE STAND VIGILANT AGAINST THIS FAILED PRESIDENCY AND DIABOLICAL REPUBLICAN SENATE.
Banana republican Senate – I think it should have a lovely make over! A nice deep blue would be wonderful! #vote2020