Another epic fail courtesy of Donald J. Trump:
The U.S. is projected to see the worst reversal of fortune this year in a ranking of global economic misery, underscoring just how much havoc the pandemic has wrought.
America fell 25 spots, from the No. 50 spot to No. 25, on Bloomberg’s Misery Index, which tallies inflation and unemployment outlooks for 60 economies. The drop comes as President Donald Trump fights for re-election while millions of Americans remain unemployed. Only Iceland, Israel, and Panama were even close to that level of deterioration in the annual rankings.
- The pandemic has caused numerous problems world wide.
- The U.S. has depression level unemployment rates but Thursday’s first time jobless claims offer a glimmer of hope but not much. Many economists fear the worst is still ahead of us.
- This all comes as Trump seeks re-election and once touted his bigly economy.
- Venezuela, Argentina, South Africa, and Turkey held on to their rankings from 2019 as the world’s four most miserable economies.
- Luxembourg, China, and Germany saw improvement in their scores.
- “Thailand claimed the title of the “least miserable” economy, though the government’s unique way of tallying unemployment makes it less noteworthy than Taiwan’s two-spot improvement to No. 6 or Singapore’s bump to No. 2 on that scale.”