LA Lakers, Harvard University and Others Get Government Money–and Why That Should Be An Example

We have seen natural disasters, perhaps some of us have been affected by ones in the past. However, none of us have seen anything like the current pandemic. It has been more than 100 years since we have seen a health crisis in the world like this, or any other natural disaster.

Such a tragedy could not have been foreseen. And no one would argue that the government needs to help limit the devastation as much as possible, to individuals and businesses that provide jobs but have been shut down. And the Federal government passed laws to give over $2.5 trillion in help.
A key part of that funding is help targeting small businesses who would struggle to keep from going bankrupt. But we are finding that money isn’t always going where needed or intended. Continue reading “LA Lakers, Harvard University and Others Get Government Money–and Why That Should Be An Example”

St. Louis Federal Reserve Says 30% Unemployment Possible

The President of the St. Louis Federal Reserve says that the US unemployment rate could reach 30%.

That would be higher than the financial crisis, the dot com bubble or…even the Great Depression. The article below below summarizes comment made by James Bullard, a professional economist who heads the St. Louis Fed, in a recent interview. In it, he predicts a much worse economy than anyone has yet predicted.

https://www.marketwatch.com/story/unemployment-could-reach-30-in-the-us-says-st-louis-feds-bullard-2020-03-22

Headlines Remind Us of Other Threat

Here is a sample of headlines from today’s newspapers:

–“Jobless Claims Top 17 Million in Past Month”

–“America’s Largest Bank Prepares for A Massive Round of Defaults”

–“Goldman: Downturn Will Be Four Times Worse Than Housing Crisis”

–“Next Wave of Layoffs Hit Staffers Working At Home As Sales Plunge”

–“Second Round of Layoffs Has Begun. No One Is Safe”

–“Mayo Clinic forced to cut $1.5 B in pay, as it projects $3 B in losses

–“Shutdown Could Kill More Americans Than Covid-19”

–“Government Mandated Shutdowns Are “Going to Kill Small Town America”

–“US GDP Projected to Fall 6% in 2020”

As we continue to battle this pandemic, we must soon start to ask the question about the balance between trying to protect against health impacts and economic devastation, which at some point becomes just as critical to people’s lives.

Biden Takes a Hard Left

Now that Joe Biden has become the presumptive Democratic nominee for President, he is setting the stage for the general election. Normally, party nominees ‘move to center’ after getting the nomination in an attempt to appeal to independent voters who, in the case of Democrats are not as liberal as the party base of voters or, in the case of Republicans are not as conservative as the party base. This year, Biden’s political calculations appear different. Continue reading “Biden Takes a Hard Left”

A Way to Start Recovering Now

The COVID-19 virus has almost brought the country to its knees. As the health crisis has turned into an economic crisis, it has shut down large parts of the economy.

The below article presents a scenario where we could begin to start getting people back to work now and slowly build toward recovery. By allowing people who have had the virus and recovered go back to their normal activities, we could potentially start moving forward from now. It’s worth the read and worth consideration.

https://www.statnews.com/2020/04/06/the-certified-recovered-from-covid-19-could-lead-the-economic-recovery/