Race Against Time, Virus vs. Savings
It’s a race against time. Can the virus be spent before your savings?
701,000 American jobs were lost in March and the unemployment rate rose from 3.5% to 4.4% in one month according to the WSJ.
Meanwhile, The Guardian says about 35 companies are working on a vaccine and Moderna is about to begin human testing. And “many many‘ groups are working on immunity-giving antibody tests that provide results in minutes.
Trump Has Blood on His Hands Says Speaker Pelosi
Trump has blood on his hands. At least that’s the way Nancy Pelosi sees it.She told Jake Tapper on State of the Union that Trump “fiddled while people died.” She also wondered rhetorically, “What Trump knew and when did he know it?”
That caused the WSJ to remark on her ability to work Nero and Nixon references into the same interview.
Trump has blood on his hands
For his part, Trump declared a national emergency and imposed a travel ban on China on Jan. 31. Joe Biden called that move “Xenophobic.”
Jeffery Lord covers a timeline of impeachment and virus activity in The American Spectator. It’s titled The Impeachment That Killed Americans.
April Fools, We’re All Going Into Comas and Nobody Dies
My April Fools cartoon. We’re all going into medically induced comas. And that way, Nobody dies. Nobody dies.
Economy Not Sheltering in Place
The economy isn’t sheltering in place. It’s heading down. Fast.
Goldman Sachs forecasts 15% unemployment and a 34% decline in GDP in the second quarter. And the stock market just finished its worst quarter since 2008.
Goldman Sachs is still predicting a “V-shape” recovery, however, meaning the steep drop-off will lead to a bigger bounce of 19 percent in the third quarter.
The Hill
Economy Not Sheltering
The election is seven months away. Can Trump pull the economy out of its Corona nose dive by then?
Scott Brennan, an Iowa Democratic National Committee member and a former state party chairman, said, “If the economy pops back … it’s hard to know what people are going to think.”
Politico
Two Trillion Dollar Stimulus Brings Back Bull, For Now
The Senate passed a two trillion dollar stimulus bill Wednesday night. And the Dow lurched forward 6.4% on Thursday. And that followed an 11% bump from the day before. But the 401k party was over by Friday and it was still down over 20% for the year.
