On February 10 the stock markets were at all-time highs, with the Dow 30 at almost 30,000. The unemployment rate was at an all-time low and interest rates around most of the world were at all-time lows. With interest rates near zero for an entire decade, the value of...
US News Over 5 million people filed for unemployment this week. Some experts are predicting 20% unemployment by the end of April. [Link] CNN attacked Elon Musk for failing to donate 1,000 ventilators he promised to donate. Musk hit back with proof he did send the...
From the Contracorner (paywall): It took 213 years and 43 presidents—-from George Washington to Dubya Bush—- to generate the first $6 trillion of public debt. Now a mad man in the Oval Office and a herd of Capitol Hill larcenists will be doing it in just 700 days....
From Marketwatch The coronavirus has turned life upside down in the blink of an eye. Just a month ago, new claims were in the low 200,000s and sat near a half-century low. Already, the ranks of the unemployed appear to have exceeded the prior record of 15.3 million...
The economic fallout of the government’s shutdown in response to the coronavirus pandemic has been unprecedented. Nearly ten million people have filed for unemployment benefits in just two weeks. The 6.6 million claims from the last week of March doubled the previous...
A Curious Quote & A Historical Lesson “We repeat what was stated in Block v. Hirsh, as to the respect due to a declaration of this kind [an emergency] by the Legislature so far as it relates to present facts. But even as to them a Court is not at liberty to shut...
Since states began locking down in mid-March, unemployment has skyrocketed, businesses have shuttered their doors, and these uncertain times have grown more worrisome by the day. There is one industry that is hurting, however, that shouldn’t bother many of us and that...
US News Over 6.6 Americans filed for unemployment this week. That is nearly double last week’s record-setting number. New York City police are arresting people for failing to social distance. Once arrested, they are put in a holding cell with dozens of other people....
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