“Insured unemployment rate” in California spiked to 27.7%, “continued claims” hit 4.8 million. In terms of “initial claims,” Georgia & Florida move into 1st and 2nd, ahead of California.
Some prices collapsed, others skyrocketed, and the Consumer Price Index went haywire. Here’s what I’m seeing beyond the near term — and it’s not “deflation.”
Tens of millions of people, many at the lower end of the income scale, lost their jobs. But stocks surge thanks to the Fed’s helicopter money for Wall Street & asset holders.
