I think in the context of this quote from Jerome Powell during a European Central Bank panel discussion on Thursday, “different” is a euphemism for “nightmare.”
“We’re not going back to the same economy,” Jerome Powell said. “We’re recovering, but to a
different NIGHTMARE economy and it will be one that is more leveraged to technology, and I worry that it’s going to make it even more difficult than it was for many workers.”
Here’s a link to Michael Snyder’s blog The Economic Collapse where he comments on this specific discussion.
The economy still has roughly 10 million fewer jobs than it had before the pandemic – a total that exceeds all the jobs that vanished in the 2008-2009 Great Recession. Government stimulus, in the form of federal unemployment benefits, aid for small businesses and checks to most individuals has largely run out. Without further assistance, economists worry that more restaurants and other small businesses will close and the plight of the unemployed will worsen.
And unless Congress continues the extended benefit program, millions of jobless people will run out of aid entirely by year’s end.
Among them is Victoria Perez, who was working two delivery jobs before the pandemic struck. Having lost both jobs in the spring, she is now living with her children in city-subsidized housing near Oakland, California, and hoping to avoid homelessness.
The city housing, provided to people at heightened risk of the coronavirus, lasts only through December. Perez, 38, is a cancer survivor.
“The pandemic just ruined everything,” she said. “I was doing really good, and then nothing.”
Perez now receives just $91 in jobless aid every two weeks. She recently began working for Replate again for about 15 to 20 hours a week.
“It is not much compared to what I had before, but it is better than nothing,” she said.
What exactly has Gates, Fauci, and their government representatives saved us from?