Small Business Closures Reach Alarming Rate, Many Never Opened 18% Unemployment For Low Wage Workers

Things are spiraling out of control for many major US cities and the talking heads want to convince everyone nothing is wrong. San Francisco is the worst among all US metros in regards to small business prospects. 49% of small businesses in San Francisco remain closed as the so-called recovery hasn't actually happened for millions of Americans and small businesses and SF isn't the only metro whose economy is crumbling, it's just the worst. Small businesses in New Orleans are also in trouble as nearly 1/3 of their small businesses remain closed. The reason this is such a serious issue is small businesses are the main employer in the United States not just the largest, but there can be no recovery without a small business recovery. Another troubling fact which may have a slight correlation or total correlation but unemployment for the lower wage earners has not recovered. The unemployment rate for many of these workers is 18%. The stock market has climbed to new highs on the back of record stimulus spending and central bank interventions yet they forgot about main street while they were busy feeding Wall Street. The problems we've experienced since the great recession in regards to the growth of wealth inequality can be directly linked to quantitative easing despite the Fed's suggestion that they don't cause wealth inequality. Unless we draw some attention to these serious structural deformities we can't have a recovery of any shape.

[GEORGE-jfvz]

I find it interesting that people think that everyone can work at home. Your car, washing machine, products you buy at the store are not made by pencil pushers.

[velasquezweber]

It takes a well regulated and experienced trader to clearly stated and preview the market uptrend and upsurge movement in price but by a professional trader with 10 years of experience it’s way more easier to predict correctly in a very short period of time.

[mrguiltyfool]

From Canada. Even our sheepie population is taking it to the street

[oitzingerpeter]

It's over. No second stimulus check now until February 2021. Just concentrate on keeping a roof over your head, heating and enough food to eat until springtime 2021.

[adampowell]

Small businesses will be a thing of the past after this recession.

[fhbbi]

America is rotting from the inside(SF, DC, NY) out.

[darnneljones]

October is definitely turning out to be quite a month. It's like everyone is on edge right now. Very tense.

[gregchaney]

Open but if people dont have disposable income there wont be revenue.! Greg Chaney in coastal NC

[GEORGE-jfvz]

Congress doing nothing may soon become a national security issue.

[randybest]

Leisure and hospitality are non-essential. We need production, not worthless consumption.

[MrKinser]

the pawn shops are open and doing a booming business

[andreideac]

Most democratic states are still closed for the small business. Plus the exodus.

[puti]

Learn New Trade, ReEducate Youself, Find a new Job - WHERE?

[Glock_Lesnr]

We are sitting back on the hopes that our governor will allow us to have a gathering, besides a "peaceful protest", more than 1000 people. I think he forgot that small conventions bring 10, 000 people. Not to mention the built in crew that installs every event, day after day. The unions are screwed, and all mine can do is tell me to vote democrat down the line! I have worked for 21 years in the convention industry, and with 13 convention centers in the city of sin, the math doesn't add up anymore. They are planning new mega resorts and more convention space. The greed and grease sliming up Las Vegas will saturate the market even more, and we will have 1/3 scale events (much less revenue), or these ridiculous hybrid/virtual events. It is hard to see unions operating at full for a long time in production.

[designhubcustomapparel]

What is hard for me to understand is why the states that have been closed the longest still have higher cases than any other states? Us Georgians was the last to close and the first to open but we still have less cases than most. I'm confused. 🤔

[blafred]

I would love to hear your take on the LIBOR transition.

[LookingForAUniqueHandle_]

Tourism is dead. SFO, New Orleans, Honolulu ...

[rortiz]

Cabin rentals are still doing amazing.

[johnnylogan]

Hope everyone is enjoying their maga. Have a great day!

[raymondknight]

Ive heard they are trying to do a 80 trillion dollar reset over the weekend and its high risk.