Consumer spending, trade, layoffs, jobless claims, political comments

Still very weak- gone from increasing to decreasing:

Slowdown plus fiscal adjustment supporting income increased imports vs exports, and oil production going from positive to negative is still in progress:


Layoffs continue at a very high level as firms who kept employees with gov assistance are now letting them go:


New jobless claims continue at over 1 million per week for the 20th week:


Continuing claims remain above 16 million:


fyi:

Personal income and consumption

This shows the dependence on federal deficit spending to sustain incomes;

Real personal consumption has collapsed-and particularly for services- far more than in 2008/09 even with the increase
in personal income from the stimulus checks and enhanced unemployment compensation. A large part of the reason
is that it isn’t safe to go to work and those services simply aren’t available. A financial crisis has been averted, but
not an economic collapse:

Income, Consumption, Savings, Consumer loans, Real estate loans

So jobs and paychecks and profits were lost, but gov deficit spending more
than made up for the lost personal income, but spending went down anyway,
as personal savings went up. Then personal income fell back some, consumption
increased some, and savings went down some.
The $1,200 distribution was a one time event, and the new deficit spending
on unemployment benefits of $600/week just expired, making it all dependent
on what Congress does next…