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This Wasn’t Supposed To Happen: U.S. Employment Growth Just Plunged To The Lowest Level In 9 Years

This Wasn’t Supposed To Happen: U.S. Employment Growth Just Plunged To The Lowest Level In 9 Years 88

If the U.S. economy was heading into a recession, we would expect to see a slowdown in the employment numbers, and that is precisely what is happening.  According to payroll processing firm ADP, the U.S. economy only added 27,000 new jobs in May, and that is way below the number that is needed just to keep up with population growth.  Of course some in the mainstream media are attempting to put a positive spin on this, but there really is no denying that this is a truly awful number.  In fact, we have not seen a number this bad in more than 9 years

Job creation skidded to a near-halt in May in another sign that the U.S. economic momentum is slowing.

Companies added just 27,000 new positions during the month, according to a report Wednesday from payroll processing firm ADP and Moody’s Analytics that was well below Dow Jones estimates of 173,000.

The reading was the worst since around the time the economic expansion began and the jobs market bottomed in March 2010 with a loss of 113,000.

9 years is a very long time, but this terrible employment number is perfectly consistent with all of the other horrible economic numbers that have been rolling in lately.

Time after time in recent weeks I have been using phrases such as “since the last recession” to describe what we are witnessing.  The U.S. economy has not been in such rough shape in nearly a decade, and things just keep getting worse.

So how did Wall Street respond to the latest employment news?

Actually, stock prices surged, because investors are super excited about the prospect that the Federal Reserve could soon lower interest rates

Stocks added to strong week-to-date performance on Wednesday as investors grew even more confident that the Federal Reserve will lower interest rates this year to reignite an economy wounded by trade battles.

The Dow Jones Industrial Average rose 207.39 points to 25,539.57, while the S&P 500 advanced 0.8% to 2,826.15. The Nasdaq Composite closed 0.6% higher at 7,575.48.

Pushing interest rates all the way to the floor certainly helped the stock market recover after the last recession, but this time around there is a major twist.

The U.S. is currently engaged in a major trade war with China, and the normal tools that the Fed utilizes may not be powerful enough to overcome the negative effects of such a conflict.

And to make things worse, now the U.S. is also starting a trade war with Mexico.  On Wednesday, President Trump made it clear that “not nearly enough” progress had been achieved during negotiations with Mexican officials…

President Donald Trump said “not nearly enough” progress was made in talks with Mexico to mitigate the flow of undocumented migrants and illegal drugs, raising the likelihood that the U.S. will follow through with tariffs next week.

So tariffs will be slapped on Mexican goods starting on Monday, and President Trump seems quite excited about this

“If no agreement is reached, Tariffs at the 5% level will begin on Monday, with monthly increases as per schedule,” Trump tweeted Wednesday. “The higher the Tariffs go, the higher the number of companies that will move back to the USA!”

Of course the Mexicans will almost certainly retaliate, and both countries will start seeing higher prices and significant job losses.

In fact, one study has concluded that the U.S. economy could lose more than 400,000 jobs as a result of these tariffs on Mexico.  The following comes from CNN

If the 5% US tariff on all goods from Mexico takes effect and is maintained, more than 400,000 jobs in the United States could be lost, an analysis released this week found.

The tariffs on Mexico, set to go in effect on Monday, would cost Texas alone more than 117,000 jobs, according to the analysis by The Perryman Group, an economic consulting firm. Texas is Mexico’s largest export market, making the two economies closely intertwined.

And the truth is that those numbers could actually be on the low side.

According to Marc Thiessen, a trade war with Mexico would literally put millions of U.S. jobs at risk…

Indeed, Mexican tariffs could be even more devastating for Americans than those imposed on China. Deutsche Bank estimates the tariffs could raise the average price of automobiles sold in the United States by $1,300. Indeed, U.S. and Mexican auto-supply chains are so deeply integrated that many parts cross the border multiple times before they end up in a finished vehicle — which means they would be hit by tariffs multiple times, compounding costs. Ten million U.S. workers’ jobs depend on this supply chain; tariffs would put those jobs at risk, including those of the “forgotten Americans” in the industrial Midwest whose jobs Trump vowed to protect.

We shall see what happens, but the outlook for the U.S. economy for the rest of this year is not good at all, and beyond that things look exceedingly grim.

Hopefully I am wrong, but it certainly appears that a major economic downturn is developing just in time for the 2020 presidential election.

There is one more thing that I would like to mention before I wrap up this article.  This week, a Russian news source reported that Russia and China “will sign an agreement” regarding the use of their own national currencies in bilateral trade with one another…

Russia and China will sign an agreement on possible payments in national currencies. A decree of the Russian government on signing of a relevant agreement with the Chinese side was released on the official portal of legal information on Wednesday.

According to the draft decree approved through that government document, “settlements and payments for goods, service and direct investments between economic entities of the Russian Federation and the People’s Republic of China are made in accordance with the international practice and the legislation of the sides’ states with the use of foreign currency, the Russian currency (rubles) and the Chinese currency (yuan).”

In other words, they are dumping the dollar in favor of their own national currencies when trading with each other.  This is a direct threat to the international dominance of the U.S. dollar, and other countries have been discussing similar moves.

For decades, the U.S. dollar has essentially been a global currency.  More dollars are actually used outside of the United States than within this country, and most Americans don’t realize that.

This has given us some enormous advantages in the global marketplace, and it could be just a matter of time before those advantages begin to disappear.

Things that used to take months or years to happen are now happening in a matter of days.  The pace of change is really picking up, and right now the momentum of events is heading in a direction that is definitely not favorable to the United States.

About The Author

Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared NowThe Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse BlogEnd Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.

SourceThe Economic Collapse Blog

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Bizzare & Odd

The mystery of the “Mandalorian” with a Jetpack flying behind a plane is revealed

The mystery of the “Mandalorian”    with a Jetpack flying behind a plane is revealed 90

Documents have been released revealing the secret of a man with a rocket pack who flew behind passenger planes, according to The Drive.

The owner of The Black Vault, John Greenewald, took advantage of the US Freedom of Information Act to secure the publication of material relating to the rocket pack incident. From the records of the air traffic controllers’ conversations, which he received, it follows that the man maneuvering at an altitude of about 900 meters was noticed by several pilots. At the same time, the radars did not record a single object that would correspond to their description.

It also turned out that in early September 2020, government officials contacted David Mayman, the chief tester of the California-based company Jetpack Aviation, which develops rocket packs. Meiman said that the company had not flown for several months, and questioned the existence of rocket packs that would allow them to climb and hold at an altitude of 900 meters.

Another letter provided to Greenwald mentions that the FBI interrogated an American Airlines pilot who spoke of a man with a jetpack. During the conversation, he confirmed that the figure he noticed resembled a drone in the form of a man from a video filmed at the German Aircraft Modeling Festival in 2019.

This is a radio-controlled drone that was built by model aircraft designer Ralph Kayser. It resembles a life-size human figure, but weighs less than five kilograms. The Rotor Drone Pro website wrote that the device is made from a paintball suit stuffed with packing film and can stay in the air for up to eight minutes.

The incident leading to the investigation took place on August 30, 2020. According to press reports, an unidentified person with a jetpack flew approximately 270 meters from an American Airlines plane landing at the Los Angeles airport. In October, the man with the rocket pack was reported by several other pilots in southern California.

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Bizzare & Odd

An abnormal phenomenon on Earth captured from space: NASA and ESA have never seen such lightning

An abnormal phenomenon on Earth captured from space: NASA and ESA have never seen such lightning 91

The Atmosphere-Space Interactions Monitor (ASIM) observatory has recorded five blue jets , an anomalous type of lightning that strikes from the top of a thundercloud into the stratosphere. This is reported in an article published in the journal Nature.

On January 20, a video filmed from the International Space Station was posted on the channel of the European Space Agency, which puzzled all academics who study the atmosphere and build theories about how everything works there:

The 10 microsecond jets were sighted on February 26, 2019, near Nauru Island in the Pacific Ocean. One of the lightning flashes produced a jet that reached the stratopause – the boundary between the stratosphere and the ionosphere at an altitude of about 50 to 55 kilometers. In addition to the jets, “elves” were recorded, which are expanding rings of optical and ultraviolet radiation in the stratosphere, lasting no more than a millisecond.

Electrical phenomena in the upper atmosphere are poorly understood and attract a lot of attention from physicists from around the world. They are short-lived and vary greatly with altitude. 

Blue jets occur during electrical breakdown between the positively charged top of a thundercloud and the negatively charged air layer above it. As a result, a leader is formed – a conducting channel of ionized air, through which the discharge propagates. However, in this case, the radiation from the leader was weak, which indicates that the leader itself was short compared to the conductive channels of conventional lightning.

The blue jets belong to streamers – branched filaments of electrical discharges, similar to those generated by Tesla coils. In addition, blue jets are more likely to occur as a phenomenon than previously thought.

Some of the most mysterious are the “elves”. Their name comes from the abbreviation ELVES , which stands for “Emission of Light and Very Low Frequency perturbations due to Electromagnetic Pulse Sources.”. These phenomena reach four hundred kilometers in diameter and occur at an altitude of about one hundred kilometers. The list of optical phenomena associated with electrical discharges in the upper atmosphere does not end there. There are also TROLL , Pixie , Ghost, and Gnome , but their nature is even less understood. 

There is nothing like this, that is, such strange huge lightning has never been observed before. Something is happening in the Earth’s atmosphere, and it started quite recently. How it will end and what will result in – we do not know, since people living today have no such experience.

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Bizzare & Odd

Ancient asteroid sent dinosaur bones into moon

Ancient asteroid sent dinosaur bones into moon 92

The impact of the asteroid that destroyed the dinosaurs 66 million years ago was so powerful that it sent into space huge volumes of earth’s soil and rocks from the crash site. But together with them, he could send into orbit the remains of living beings, including dinosaurs.

Such a possibility is discussed in the book “The End of the World” by the scientific journalist and winner of several awards Peter Brannen, according to the Daily Mail.

It is known that an asteroid or meteorite about 10 km in size collided with the Earth 66 million years ago, forming the Chikshulub crater on the Yucatan Peninsula in Mexico. About 15 trillion tons of ash and soot were thrown into the air. Because of  this, during the day it was dark on Earth, like a moonlit night.

As a result of the lack of light in plants, photosynthesis slowed down, which could lead to a decrease in the concentration of oxygen in the atmosphere. Temperatures on continents dropped by 28 ° C, in oceans by 11 ° C. The disappearance of phytoplankton has led to the extinction of zooplankton and other marine animals. Other species died after them. 

This is one of the largest mass extinctions in the history of the Earth, which is called the Cretaceous-Paleogene. Brannen, trying to make the numbers more descriptive, points out that the asteroid (or meteorite) was larger than Everest and crashed into the atmosphere 20 times faster than a flying bullet. At the same time, the pressure of the atmosphere was so strong that a crater in the Yucatan began to form even before the asteroid fell.

The “response” release of soil into the atmosphere occurred only within a second or two after the impact and was incredibly powerful.

“So there are probably little pieces of dinosaur bones on the moon,” Brannen suggests.

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