33 Million Job Losses Warns Mnuchin, No Food! Walmart Shelves Barren As Shipments Grind To A Halt
Mnuchin warns unemployment could soon reach 20% or 33 million job losses in America due to the production halts and work stoppage beginning in major cities around the US. They have developed a stimulus plan which may include checks mailed to every American for $1,000 to help soften the blow from an immediate drop in income. It must be pretty bad if they plan to send out money to everyone. More immediate problems face us as the Walmart shelves don’t seem to be being restocked. The food is now the main focus even though the toilet paper was also gone. What was shocking was that there was no rice, no flour, no meat, no eggs, canned foods were hit hard and the frozen food coolers were bare. The Port of LA has just reported the lowest shipping container activity since the financial crisis. I am beginning to wonder how much of this is tied to supply chain disruptions working the way through the system. There seems to be supply issues if the shelves can’t stay stocked.