Already Depressed

We are already in a depression. All that remains to be seen is how bad it will get and how long it will last.

Losses

This is how big a doofus Kevin Drum is.

The decline of 20+ million workers in last month is truly unprecedented. For perspective, add up all of the job losses of all of recessions dating back to 2nd term of President Dwight D. Eisenhower in the late 1950s. All of those job losses together are lower than those in April 2020.

Fuck shit ass damn.

Really, what else is there to say? If you think this is all going to somehow turn out well, you’re wrong. You’re very, very wrong.

Meaninglessness

Fridayโ€™s Jobs Number Wonโ€™t Be Big News.

Kevin Drum continues to be a massive dipshit. Get a load of this.

Itโ€™s like passing Prohibition and then following up with a breathless headline about people buying less booze. I mean, if you literally order 30 million people to stop working, then of course the BLS is going to report that 30 million jobs have been โ€œlost.โ€ Itโ€™s completely meaningless.

Says the person with a job.

For the first time in history, a very large portion of a modern economy has just been halted. For months! And millions of people have been thrown out of work, many of whom will likely never hold a job again. Relations are being destroyed that will not be replaced; systems are breaking down, many of which likely will never function again, all due to this “meaningless” job destruction.

This mook really thinks massive job losses and the consequences of that shouldn’t be news. Alrighty then.