Over 40 Million Out of Work in 10 Weeks, But Trump’s Allies Want to Wait Until “Next Month or So” to Consider Relief
Struggling Small Businesses Are Being Neglected
WASHINGTON, D.C. – The U.S. economy remains in freefall as 2.1 million more Americans joined the unemployment ranks this week, bringing the sobering ten-week total of jobless claims to over 40 million. Yet, the Trump administration and its allies in Congress remain fully committed to their failing economic strategy: slow rolling desperately needed aid for struggling small businesses, workers, and states while fast-tracking aid for corporations, the wealthy, and well-connected that need it least.
Welcome to our latest issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring investors exit long-short hedge funds, the oil market is now "broken", and Haidar Capital surges 225%. Q2 2022 hedge fund letters, conferences and more
While the Trump administration continues to trash proposals for expanded unemployment benefits for millions who are out of work through no fault of their own, Trump’s top Senate ally declared this week that he won’t even consider the “possibility” of another economic relief bill until “the next month or so.”
“The economic situation is getting worse by the day, and so are the financial realities for families across the country,” said Kyle Herrig, president of government watchdog Accountable.US. “Millions of jobs continue to disappear every week, and yet the President and his allies still see no need for a course correction. Their efforts to take care of those at the top have failed to provide any economic security for the millions of workers and small businesses below them. The more this administration priorities the wealthy and well-connected, the worse the economy will get for everyone else.”