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| His legacy is going to be judged on his handling of the coronavirus. |
We have over 85,000 people die from the coronavirus and there's no signs of it dying down. We have over 2.3 million confirmed cases in the United States and a whole lot of uncertainty, it's possible to confirm we're entering the early phases of an economic collapse.
The news got worse for him when the jobs report came out today. For the month of April there were 20.5 million jobs loss in the month. That drove the unemployment rate to 14.7% with many signalling that this could be temporary.
What was really affected was the retail, hospitality and government jobs. For those who were in the field, governors had ordered businesses to shut down to stop the spread of COVID19, it force companies to lay off workers.
Every U.S. state, District of Columbia and four territories have confirmed cases. The only place in the United States that has not reported a confirmed coronavirus case is American Samoa (for now).
While on Fox News, Trump didn't sympathize with the news of the jobs report, he basically deflected to saying that "Even the Democrats aren't blaming me."
The historic jobs loss shows that companies are doing steep cutbacks
This wiped away jobs gained throughout the decade of 2010 to 2020. That means during Obama's two terms and Trump's first term, all the jobs were erased.
CNBC reports that the impact of the coronavirus-induced economic shutdown tore through the U.S. labor market in April at historic levels. Both numbers easily smashed post-World War II era records and help reflect the profound damage done through efforts to combat the virus.
Job loses came in the clothing and clothing accessories stores, car dealerships, parts manufacturers, miscellaneous store retailers and furniture and home furnishings stores.
School and government closures also reported losses. With governors shutting down in-person schooling and forcing students from graduation this year, the restaurant industry took a hit.
Grocery stores and discount clubs like Costco and Sam's Club have seen job increases.
Major drop in the hospitality industry. That means hotels, theme parks, casinos, movie theaters, entertainment studios and playwrights productions took a hit.
The healthcare industry took a hit. With doctors and nurse being strained by treating those infected with COVID19, the need for nurses are critical. However, those who work in the record keeping and hospital non-essentials are let go.
The Dow Jones Industry Average has bounced back from dropping below 20,000 in March. Right now it's running between 23 to 25,000 on point.
Those who claimed for unemployment are first timers. Full-time workers fell by 15 million for the month while part-timers plunged by 7.4 million.
The breakdown of unemployed.
13% adult men (18 -65)
15.5% adult women (18-65)
14.2% White (non-Hispanic)
16.7% Black (non-Hispanic)
14.5% Asian (Pacific Islander)
18.9% Hispanic
No mention of Native American (American Indian/Indigenous)
In April, the unemployment rate increased by 10.3% to 14.7%. The Bureau of Labor Statistics say that this is the highest rate and the largest over-the-month increase in the history of its founding.
All major worker groups were affected by this.
The rates for all of these groups with the exception of Blacks, represent record high for their respective series.
The impact has affected the economy. The economy is unstable right now. The reasonable gains that Trump bragged about are gone. His reelection chances are down from 65% to now somewhere between 45% and 53% in most betting trades.
DONALD J. TRUMP HAS A 49% CHANCE OF WINNING REELECTION.
Click the map to create your own at 
Things that make you go hmmm....!
1. Donald J. Trump becomes the third U.S. President to be impeached while in office. He escapes being removed from office by the U.S. Senate. The Senate rejects witnesses and evidence. They quickly acquitted Trump. The trial offered extensive evidence. Republicans weren't convinced by the evidence and voted to acquit him. This acquittal assures Trump will ask for help from foreign entities yet again.
2. Joe Biden is the presumptive Democratic nominee. He is facing allegations from a former staffer who claimed he sexually assaulted her in the U.S. Capitol. Biden denies the allegations. Most state primaries are postponed until further notice. A federal court has ordered New York to hold its Democratic presidential primaries. With campaign rallies being shuttered Biden can't do much but do virtual rallies. The Democrats feel comfortable with Biden. Biden cannot do really much until the states give an official all-clear. Trump is continuing to use foreign influences to help him win reelection.
3. The U.S. has nearly 2.3 million confirmed cases of the coronavirus. There is 85,000 Americans who died from the coronavirus. The disease has spread across the states and many individuals are dying from it. Trump is blaming Barack Obama for his failure to get the ball rolling on prevention. Trump deregulations have finally taken a toll. Trump tried to dismantle the Coronavirus Task Force this week. After backlash he said that Dr. Anthony Fucci and Dr. Deborah Brix will continue to have a voice in the matter.
4. Brick and mortar stores are shuttering in suburbia. J. Crew and Neiman Marcus have filed for bankruptcy. Papyrus, Modell's Sporting Goods and Art Van Furniture are going out of business and plan on liquidating their businesses. JCPenney, Macy's, Pier 1 Imports, Forever 21, Hallmark, Jo Ann Fabrics, Kmart and Sears are on death kneel. Walgreens, Walmart, Kroger are closing stores. Walmart and Kroger are no longer operating stores on a 24-hour format. The coronavirus has changed the dynamic of operations in superstores. They are closing stores at midnight and 1am to eliminate workers.
5. No one is seeing the results of the Job and Tax Cuts Act and the Coronavirus Aid, Relief and Economic Security Act. The Trump Tax Cuts and CARES Act hasn't really improved Americans lives.
6. Folks affected by COVID-19 are not working. Those who have worked a full-time job or multiple jobs are now forced off because of state order shutdowns. Some have worked one or more jobs to stay afloat. Conservatives have claimed that Americans who use the safety net are lazy. They now see the impact of Americans being laid off from their jobs (at no fault of their own). They still are trying to make the argument that folks who are now getting these checks are going to demand more. A measly $1,200 isn't going to help Americans spend. It's going to help them one time with bills and rent. They don't realize that many Americans are working more than 40 hours and are often staying longer hours or working a second job to pay rent, mortgage or vehicle expenses. Insurance rates are up due to Trump rolling back regulations, eliminating the insurance mandate of the Affordable Care Act, and private insurance companies aren't paying for natural disasters and human based disasters.
7. Trump and his administration did subliminal cuts to food stamps, housing credits and disaster relief. The Supreme Court ruled in favor of the Trump administration in their attempts to cut the safety net from immigrants who have American born children and working class families who are struggling to find food in area affected by food deserts, blight and natural disasters.
8. The Supreme Court is now hearing the cases through the phone. Some of these decisions will impact the economy, presidential powers, women's rights to choose, state regulations and land disputes.
Nonetheless, some will conclude that Trump's economy is great. We keep hearing the same old tired talking points about tax cuts, raising taxes on the rich and fixing roads and bridges. The same old shit but from a different face.
No one can wait forever for changes. Congress is made up of old, white and well off politicians.
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| Donald Trump and Mike Pence get bad grades for their handling of the coronavirus pandemic. |
Food prices, energy prices, rent, city services and college education have risen. With folks not working, the fears of being thrown on the street are live and direct. Folks are struggling to make ends meet as well as landlords, mortgage brokers and those who need the money to repair facilities.
Real Reason To Why Unemployment Rate Stays The Way It Is!
1. DEAD
2. BORN
3. IN PRISON
4. IN PRIMARY SCHOOL
5. IN MIDDLE SCHOOL
6. IN HIGH SCHOOL
7. IN COLLEGE NOT LOOKING
8. VOLUNTEER
9. DISABLED
10. STAY AT HOME PARENT
11. RETIRED
12. QUIT ON THEIR OWN
13. NOT HIRING QUALIFIED
14. NATURAL DISASTERS
15. ACTIVE MILITARY
16. NOT HIRING TOO QUALIFIED
17. LAID OFF
18. FIRED FROM THE JOB
19. DESTRUCTION TO FACILITY
20. OUTSOURCING
21. IMMIGRANTS TOO AFRAID OF BEING DETAINED BY I.C.E.
22. SHAMED BY SOCIAL MEDIA
Let me remind you, that Trump and Republicans believe rolling back regulations and austerity are the key factors to a strong economy and job market. The Republicans are not in control of the House of Representatives. The Democrats now control the House and will push for an agenda that Trump will likely oppose. Republicans in the Senate will continue to pass ridiculous laws that hurt the working class and middle class. They are already streamlining federal judges that could rollback years of progress.
Trump and Republicans believe that trickle down economics (i.e. free market capitalism) is helping Americans. Really, it's making people work harder and we're not seeing the benefits of it. So far private equity firms are buying corporations and piling on debt. These corporations can't sustain the debt and are forced to declare bankruptcy and eventually liquidation. Many of our nation's largest companies and start-ups have equity firms investing in them. When the firms want their money, they're going to get their money.
With Republicans trying to dismantle the Affordable Care Act, many of Trump's die hard supporters are going to get a culture shock when they find out their health coverage from their employer is terminated due to the coronavirus and states pulling out of the Healthcare Marketplace.
The Jobs and Tax Cut Act and the Coronavirus Aid, Relief, and Economic Security Act has added trillions of dollars of debt to the economy. The results of the tax cuts haven't produced the stability. It's still considered a very unpopular law.
Trump is destroying the economy, causing uncertainty in world and is bring chaos wherever he lands.
There is nothing positive about him and the Republican Party.
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