Fiscal Disaster This Way Comes!

I was shocked to see this headline just minutes ago!

Let's do the math on that! $1 trillion for one month X 12 months equals $12 trillion of spending for the year!
Even the deficit looks like a coming disaster! $738 billion for one month X 12 months equals a prospective deficit of $8.856 trillion of new debt for one year! That's more than 6 times the previous annual record! That ensures an eventual disaster!
Is is any wonder that the Dow futures are down 650 points as I post this?
And yet House Democrats are expected to pass another stimulus package today for an additional $3 trillion of spending! It guarantees a fiscal calamity!

Don't Try Telling Stock Traders This!

This article on Marketwatch today suggests that the economic rebound will not be a v-shaped recovery, but don't tell that to stock market traders today. After being down 200 points, the Dow has gone positive for the day.

Reality Only Gets Worse As Unemployment Skyrockets

Over the weekend, "Standard Chartered bank has calculated that adjustments to the headline unemployment rate push the effective number of unemployed to 42 million and the effective UR rate to 25.5%, higher even than the U-6 underemployment rate of 22.8%. Worse, if one treats underemployed in line with the U-6 methodology, the true April unemployment number would rise to an mindblowing 27.5%."
That's ugly beyond description!