Posted May 21, 2020 by Martin Armstrong
There is a major crisis economically unfolding and the markets are not yet taking into account the seriousness of the economic damage. I have explained that this is a Coronavirus Bankruptcy Pandemic which has put about 30% of the retail service industry in the crosshairs of insolvency. But there are smaller municipal governments that are also bankrupt as we see with some of the first filings starting to unfold here in May.
With nearly 80% of the civil workforce employed in the service sector, these schemes of keeping the economy locked down are profoundly dangerous. They fail to realize that this is undermining society in a major way that it is not going to return to normal even with Bill Gates’ certificates to prove you have been vaccinated by him personally.
The Democratic states are refusing to open up when there is no real justification to keep their economies closed. What is really going on behind the curtain is a clever trick. The $1 trillion that Pelosi was stuffing in the Democratic Bill is money to bail out state and municipal governments which have been going broke because of their unfunded pensions.
The scheme is to crash their economies and then blame everything on the virus and then blame Trump for not bailing them out for the 2020 election. This is a very clever scheme being relayed in whispers from behind the curtain. They are using this virus as cover to bail out 70 years of fiscal mismanagement.