The Democrat Party, now completely hijacked by Marxists waging a cultural revolution to strip away our founding governing principles and replace them with a tyranny more akin to Stalin and Mao, is primarily responsible for what we’re preparing to report.
The party’s exploitation of the coronavirus pandemic to destroy the wonderful economy President Donald Trump and Republicans built over his first term is not going to hurt him, financially.
He’s a billionaire. He’ll be okay when he leaves office, financially speaking.
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But their shutdown strategy, which is being re-imposed by Democratic governors as coronavirus ‘resurges’ (thanks to widespread testing which Democrats also pushed for – coincidence?) is, in reality, destroying hopes and dreams of tens of thousands of small-business owners.
And Democrats couldn’t care less because most of them are financially set as well. And hey, they’ve got a constitutional republic to destroy.
As reported by Bloomberg News, business rating app Yelp claims that at least half of all businesses ordered closed to ‘bend the curve’ of COVID-19 are gone forever:
Of the 132,580 closures listed on its website as of July 10, 55% are permanent, up 14 percentage points from the end of June, according to the Yelp’s Economic Average Report released Wednesday. More than 72,000 businesses have permanently shut down, with California, Texas and Florida accounting for the largest share.
When there’s a major outbreak in a state, consumers are less interested in frequenting businesses where it’s difficult to social distance, according to the Yelp report. New virus outbreaks across the nation have led 22 states to either reverse or pause reopenings, according to Bank of America Corp. economists, making it more difficult for businesses to stay afloat.
Speaking of the shutdowns and their negative effect on Americans’ ability to earn a living, Bloomberg added: “The increase in long-term closures implies future weakness in the labor market. After two solid months of employment growth, payrolls could decline in July because of a pickup in coronavirus cases and new shutdowns.”
By far, restaurants and eateries – known for their tight profit margins – have been hit the hardest and were among a slew of businesses deemed ‘non-essential’ and ordered closed. Some have managed to adapt by offering take-out fare, but the industry in general has been devastated by the unprecedented policy of ordering healthy people quarantined and life as we know it shut down.
Retailers did the same thing: They tried shifting to curbside service and online ordering models, but the vast majority of smaller outlets struggled. The biggies – Walmart, Target, Kohl’s, etc. – managed to skate but they had a lot more supportive infrastructure.
And now, months later, ‘the American dream’ for tens of thousands of people has been stripped from them. Worse, business owners who are considering reinvesting to reopen will be fearful of Democrat governors coming along every few months to shut them down again every time coronavirus test positives rise.
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Is there any good economic news? Yes.
According to Reuters, sales of existing homes climbed the most on record in June, thanks in large part to lower mortgage rates.
Americans are resilient and resourceful and will fight tooth and nail to recover from this politically abused virus. But Democrats will continue to keep them down as long as possible to hurt the president.
