10 Numbers Show USA Has Fallen Into Depression?
Over 4 million skipping mortgage payments…DIGITAL CEO AVAILABLE:Craig Cecilio, is the CEO & Founder of DiversyFund which is a tech-enabled platform that allows the everyday investor to build wealth like the 1%. Cecilio is a markets Influencer and public speaker who is has been featured on Bloomberg Radio, in US World & New Report, and the NYSE. He is host of the Driven To Win Podcast. Can anyone explain how we are going to motivate unemployed workers to go back to work when most of them can actually make more money camped on their sofas watching Netflix? Over the past couple of months, 36.5 million Americans have filed new claims for unemployment benefits, and Congress understandably wanted to do something to address this unprecedented spike in unemployment. But by giving all of these unemployed workers a repeating 600 dollar bonus on top of existing unemployment benefits, Congress has actually created a very powerful incentive for Americans to be unemployed and to stay unemployed for as long as the bonuses last. According to a group of prominent economists at the University of Chicago, 68 percent of those that are currently unemployed can now bring home more money than when they were actually employed…
A new analysis by Peter Ganong, Pascal Noel and Joseph Vavra, economists at the University of Chicago,1 uses government data from 2019 to estimate that 68 percent of unemployed workers who can receive benefits are eligible for payments that are greater than their lost earnings. They also found that the estimated median replacement rate — the share of a worker’s original weekly salary that is being replaced by unemployment benefits — is 134 percent, or more than one-third above their original wage.
Of course you don’t have to be bringing home 100 percent of your former income for there to be an incentive to stay unemployed.BIO: Craig Cecilio founded DiversyFund, a financial tech company created to provide all Americans equal opportunities to invest like the one percent. An entrepreneur with deep expertise in commercial real estate and capital raising, Cecilio has spent over 20 years raising and managing over $500 Million in assets. As CEO of DiversyFund, Craig is leveraging technology to break down the barriers that stand between everyday people and alternative investments, allowing everyone – not just the wealthy – to choose how to invest their money. CHECK OUT CRAIG ONLINE HERE:FIND HIM ON FACEBOOK HERE:TWITTER: @DiversyFund, @CraigCecilio