U.S. economy is now in recession but there is Good News

The bad news. Ten million people have filed for unemployment insurance in the past two weeks.

We all knew this day would come, so let’s bow our heads in reverence to what will be remembered as the longest bull–market run in history.

THE NINE YEARS OF JOB GROWTH that started in the aftermath of the Great Recession under BARACK OBAMA and continued under DONALD TRUMP came to a screeching halt in March, when the U.S. economy lost 701,000 full-time jobs. The jobless number rose to 4.4%, up nearly a full percentage point.

The monthly BLS survey was taken March 8 to March 14 — well before the nation went into practically full lockdown — so the unemployment rate is probably much, much higher and likely upward of 10%.

Before the stay at home orders were given by most states the U.S. economy was roaring. Most economists are saying that once the stay at home order is lifted things will return to normal rather quickly.

It’s all about buying stuff.  Americans, I believe, are anxious to continue their buying ways. Of course they might be just a bit more cautious.