December 28. 2020

Democrat Nancy Pelosi and Republican Mitch McConnell are being slammed by Americans on social networking. In trying to save money in the short run via providing little aid to the public, Congress has damaged America in the long run, as many former American workers are becoming homeless, which in turn damages the economy.

This is a follow up to the March 28, 2020 Judiciary Report article "The Coronavirus Is Posing A Massive Threat To The American Economy" where I expressly warned, "The virus poses the biggest threat to the American economy since the Great Depression, which changed the American way of life. If handled incorrectly, the coronavirus outbreak has the potential to strip away America's position as the top economy in the world and cause it to fall by the wayside."

On Friday, December 25, 2020 Bloomberg News confirmed the prediction I made on this site 9-months prior in the aforementioned March 28, 2020 Judiciary Report article "The Coronavirus Is Posing A Massive Threat To The American Economy." This past Friday, Bloomberg News published an article entitled "China's Economy Set to Overtake U.S. Earlier Due to Covid Fallout."

Bloomberg News reported, "In its World Economic League Table, the consultancy also calculated that China could become a high-income economy as soon as 2023." It proves my prediction correct and Biden being elected cements it, because as I proved in a past article, he doesn't know what he's doing when it comes to the economy (October 30, 2020: Joe Biden Tax Plan Slammed And Debunked On '60 Minutes'). The U.S. economy is up a creek with Biden and puppet master Obama in charge. They don't know what they're doing when it comes to economics.

The fact of the matter is China handled the virus better. Their lockdown methods were called draconian by some, but it saved lives. To put it in perspective, China experienced 4,634 coronavirus deaths. America experienced 335,000 coronavirus deaths and rapidly counting. Methods matter. The virus has not been handled correctly in America, as I have stated on this site for months.

I repeatedly warned on this site regarding how Congress was managing the relief aid and warned there were poor controls over the money, which saw wealthy corporations clean out money at banks meant for small businesses, who are also massive contributors to the economy. It helped to destroy many small businesses, who did not get money meant for them to stay afloat, while larger corporations, who had more funds, did not need the relief aid to remain in business (but took it anyway).

I also warned about how poorly unemployment was being distributed. Some people received an extra $600 per week, while some who were also entitled to unemployment received nothing at all for 9-months (and counting). Many people lost their homes and ended up moving in with family and friends (sleeping on couches and airbeds) because they did not get the unemployment they are entitled to receive.

Another issue I warned about on Twitter a few months ago is the coronavirus is disabling many people who survive it. It is notoriously hard to get disability in America. Coronavirus is new territory for Social Security Disability. The coronavirus sufferers who lost limbs will have an easier case to make to Social Security Disability to show how the virus has disabled them.

However, many coronavirus sufferers who didn't die from the virus or lose limbs, have been left with terrible brain fog and other debilitating neurological problems, chronic fatigue, muscle weakness and wasting (cachexia), and vision and hearing problems. They too are disabled, but proving it will not be easy, due to how Social Security Disability is set up.

Congress needs to do something to ensure medical manuals and guidelines Social Security Disability uses are updated to reflect a category for coronavirus sufferers, lest their suffering be made worse as they are sick and can't work due to the virus, and struggling to receive disability to feed themselves and keep a roof over their heads.  

STORY SOURCE

China's Economy Set to Overtake U.S. Earlier Due to Covid Fallout

Fri, December 25, 2020, 7:05 PM EST - (Bloomberg) -- The Chinese economy is set to overtake the U.S. faster than previously anticipated after weathering the coronavirus pandemic better than the West, according to the Centre for Economics and Business Research.

The world’s biggest and second-biggest economies are on course to trade places in dollar terms in 2028, five years earlier than expected a year ago, it said on Saturday.

In its World Economic League Table, the consultancy also calculated that China could become a high-income economy as soon as 2023. Further cementing Asia’s growing might, India is set to move up the rankings to become the No. 3 economy at the end of the decade.

Chinese President Xi Jinping said last month it was “entirely possible” for his economy to double in size by 2035 under his government’s new Five-Year Plan, which aims to achieve “modern socialism” in 15 years.

China was the first economy to suffer a pandemic blow, but has recovered swiftly, according to government data. That should prompt Western economies to pay much more attention to what is happening in Asia, according to the report.

https://finance.yahoo.com

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