The Michael Snyder of the End of the American Dream reported that small businesses will be on the ropes in the upcoming months.
With some states rolling out reopening plans, there is some optimism in the air for a potential economic rebound.
However, Snyder doesn’t believe the recovery will be so quick.
He noted the following:
The good news is that the lockdowns are starting to end, but the bad news is that many small business owners are facing a “new normal” in which their monthly revenues will be down by 30, 40 or 50 percent (or more). All of a sudden many small businesses that were once barely profitable have been transformed into businesses that are bleeding a lot of cash each month, and many of them simply are not going to make it.
According to a Bloomberg survey, 52 percent of U.S. small business owners “expect to be out of business within six months.”
The data Snyder cites is coming from a new survey the Society for Human Resource Management conducted which discovered that 52% of small business owners expect to be closing their doors within six months.
“SHRM has tracked Covid-19’s impact on work, workers, and the workplace for months,” stated SHRM Chief Executive Officer Johnny C. Taylor, Jr., “but these might be the most alarming findings to date. Small business is truly the backbone of our economy. So, when half say they’re worried about being wiped out, let’s remember: We’re talking about roughly 14 million businesses.”
Many small businesses normally operate under razor thin margins.
A pandemic and the subsequent government lock-downs have thrown everything into disarray.
People’s livelihoods have been ruined as witnessed by a Dallas salon owner who was harassed by municipal officials for the shocking crime of trying to earn a living by keeping her business open.
Elected officials will have to get their act together lest they want more Americans to suffer.
Unrest will inevitably follow if politicians don’t put forward a sober reopening plan.
BREAKING: Roger Stone is a Free Man, President Trump Commutes Sentence
The story is developing.
On July 10, 2020, commentator John Cardillo reported that conservative operative Roger Stone received a commutation of his prison sentence from President Donald Trump.
— John Cardillo (@johncardillo) July 10, 2020
Over the past few days, President Trump has considered commuting Roger Stone’s sentence a few days prior to his report to prison.
Stone is expected to report to a federal prison in Jesup, Georgia by July 14 where he will serve out a three year and four month prison sentence for allegedly lying under oath to U.S. elected officials during the politically contrived Russian interference investigation.
Trump has had a relationship with the Republican political operative for decades.
For some time, Trump has discussed the potential of commuting Stone’s sentence.
When asked by reporters earlier on July 10 about reports of his plan to pardon Stone, Trump remarked, “I’ll be looking at it. I think Roger Stone was very unfairly treated, as were many people.”
Reuters reported that back in November 2019, a “Washington jury convicted Stone on all seven criminal counts of obstruction of a congressional investigation, five counts of making false statements to Congress and tampering with a witness.”
The same report added that “Stone was convicted for lying to the House of Representatives Intelligence Committee about his attempts to contact WikiLeaks, the website that released damaging emails about Trump’s 2016 Democratic election rival Hillary Clinton that U.S. intelligence officials have concluded were stolen by Russian hackers.”
Stone’s commutation, while not a full-blown pardon that erases his conviction, is a solid victory for the Rule of Law.
News4 days ago
Tennessee’s Marsha Blackburn Calls on Ilhan Omar to Resign After Minnesota Democrat Calls to “Dismantle” U.S. “System of Oppression”
Snowflakes4 days ago
EXPOSED: City of Seattle Forces White Employees to Undergo Marxist Re-Education Training
Big League Guns4 days ago
Pregnant White Woman Charged with 4-Year Felony for Using Firearm to Fend Off After Being Harassed by Black Women
Violent Left4 days ago
Seven ANTIFA Militants Facing Federal Charges for Attack on Portland Courthouse
Congress3 days ago
House Democrats Seeking to Restrict Attorney General Bill Barr From Any Travel Outside DC
Culture3 days ago
Activists Change ‘Black Lives Matter’ Street Mural in Chicago to Read ‘All Lives Matter’
Border Security4 days ago
President Trump Preparing New Executive Order to Rescind DACA Amnesty After SCOTUS Decision
Culture3 days ago
NEW HATE HOAX: Police Stop Investigation into Racist Notes Left on Car After ‘Victim’ Refuses to Cooperate