Washington Post (August 11)
“If the economy is in a rut, the party in power usually tries to maximize the power of incumbency to improve conditions before an election,” but these are strange times. “This White House and the current Senate Republican majority… are doing everything in their power to minimize or even prevent a stimulus deal.” Perhaps “Trump still does not understand he has wrecked the economy.” Come November, it looks like “he and a whole lot of Republicans are going to join the list of the unemployed.”
Tags: Economy, Election, Incumbency, Majority, Power, Prevent, Republican, Rut, Senate, Stimulus deal, White House, Wrecked
LA Times (August 4)
“There are growing glimmers of hope that California’s surge in coronavirus cases could be peaking—but don’t expect the pandemic-shattered economy to share much of this progress in the short term.” For the first time in three months, California’s new cases went down, decreasing 9% to 59,697 for the week.
Tags: California, Coronavirus, Economy, Glimmers, Hope, Pandemic, Peaking, Progress, Shattered, Surge
Washington Post (July 31)
“The second quarter GDP report confused many, but any way you slice it, the economy saw its worst quarter in at least 145 years.” A key sentence read “Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020.” That figure is annualized and seasonally adjusted. For the quarter alone, it was a drop of 9.5 percent, “still the worst since at least 1875.”
Tags: 1875, Annual rate, Annualized, Drop, Economy, GDP, Q2, Seasonally adjusted, U.S., Worst
New York Times (July 16)
Rather than the once hoped for economic recovery, “the United States economy is headed for a tumultuous autumn, with the threat of closed schools, renewed government lockdowns, empty stadiums and an uncertain amount of federal support for businesses and unemployed workers all clouding hopes for a rapid rebound from recession.”
Tags: Autumn, Economic recovery, Economy, Lockdowns, Schools, Stadiums, Support, Threat, Tumultuous, U.S., Unemployed
Forbes (July 7)
In the U.S., evictions could be the “next shoe to drop” as the pandemic continues to play havoc with the economy. “There are a confluence of factors that could result in wide-scale evictions this month” as enhanced unemployment benefits and eviction moratoriums are set to expire. The evictions could possibly extend to “millions of Americans.”
Tags: Confluence, Economy, Evictions, Havoc, Moratoriums, Pandemic, U.S., Unemployment benefits
The Economist (July 4)
“After many false starts, hydrogen power might now bear fruit.” However, it is more likely to “fill in the gaps, rather than dominating the economy.”
Tags: Bear fruit, Dominating, Economy, False starts, Gaps, Hydrogen, Power
Washington Post (June 29)
“The road to a successful reopening of the U.S. economy is strewn with hopeful intentions — and formidable obstacles. The biggest and most important obstacle is a surge in new coronavirus cases, which presumably will lead to more hospitalizations and more deaths as well as more firms shutting down.”
Tags: Coronavirus, Deaths, Economy, Formidable, Hopeful, Hospitalizations, Intentions, Obstacles, Reopening, Successful, Surge, U.S.
NBC News (June 9)
“Stocks soar despite coronavirus and a recession. It’s time for a reality check, and a crash. Psychological factors are making markets poor gauges of the U.S. economy’s strength. We should wrench our eyeballs from the ticker tape before it’s too late.”
Tags: Coronavirus, Crash, Economy, Markets, Psychological, Reality check, Recession, Stocks, U.S.
Jerusalem Post (June 9)
“Following “a very steep increase in morbidity” in Israel, “the coronavirus cabinet decided on Monday to freeze nearly all easing of restrictions that were expected in the coming days as the number of active cases continues to climb across the country.”
Tags: Coronavirus, Crash, Economy, Markets, Psychological, Reality check, Recession, Stocks, U.S.
Bloomberg (June 3)
“A more comprehensive abdication of leadership could scarcely be imagined. America has now lost more than 105,000 people to a still-uncontrolled virus. Some 40 million are out of work, with the economy in free fall. From coast to coast, cities are burning, protests raging and chaos…. And what is the president of the United States doing amid all this? Tweeting, mostly.”
Tags: Abdication, Burning, Chaos, Cities, COVID-19, Economy, Free fall, Leadership, Protests, Trump, U.S., Uncontrolled