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Friday, April 24, 2020
The 90 Miles Mystery Box: Episode #967
You have come across a mystery box. But what is inside?
It could be literally anything from the serene to the horrific,
from the beautiful to the repugnant,
from the mysterious to the familiar.
If you decide to open it, you could be disappointed,
you could be inspired, you could be appalled.
This is not for the faint of heart or the easily offended.
You have been warned.
Thursday, April 23, 2020
U.S. Weekly Jobless Claims: 4.4 Million
The coronavirus continued to ravish the U.S. economy last week, with 4.4 million of American filing first-time unemployment claims, the Labor Department reported Thursday.
Economists had forecast 4.25 million new claims for this week. The previous week’s claims figure was revised down 2,000 to 5,506,500.
Continuing claims, those made after an initial week of benefits, rose to 15.98 million. Continuing claims, however, are reported with a one week lag. The total number of Americans who have lost their jobs since claims spiked five weeks ago because of coronavirus and shutdowns rose to around 26.4 million, enough to erase all the job gains since the economy began to recover after the financial crisis.
The 4-week moving average was 5,786,500, an increase of 280,000 from the previous week’s revised average.
The CARES Act, passed to offset the economic impact of the coronavirus and stay-at-home orders, expanded the ranks of those eligible to file claims for unemployment benefits and raised the amount paid to unemployed workers. Self-employed workers and independent contractors can now file for benefits, expanding the number of claims.
New claims for state unemployment benefits are a proxy for layoffs. Released weekly, they are some of the few real-time indicators of economic conditions.
Actual job losses may be higher than the most recent figures reveal. Applications in many states have been hampered by websites and phone lines failing due to the rapid rise in the volume of claims.
Employers are slashing their payrolls to try to stay afloat because their revenue has collapsed, especially at restaurants, hotels, gyms, movie theaters, and other venues that depend on face-to-face interaction. Auto sales have sunk, non-healthcare related manufacturing has ground to a halt, and factories have closed.
More than 90 percent of the U.S. population is now under stay-at-home orders, which have been imposed by most U.S. states. This trend has intensified pressure on businesses, most of which face rent, loans, and other bills that must be paid.
The CARES Act included hundreds of billions of dollars for loans for businesses that can be forgiven if borrowers keep workers on their payrolls. That could be holding down the...
Expert Says U.S. is on the Brink of “Mass Civil Unrest”
Has friends on Capitol Hill concerned about violence.An expert with the United States Studies Centre says that America is on the brink of “mass civil unrest” that threatens to emerge out of anti-lockdown protests now taking place nationwide.
Demonstrations against coronavirus stay-at-home measures have exploded across the country over the last week after President Trump encouraged them on social media. The National Guard has been called out in some areas to deal with potential disorder.
Speaking to Sky News Australia, James Brown, a former Australian Army officer who commanded a cavalry troop in southern Iraq, said that the very specific mentality of Americans made them much more likely to rebel against lockdown measures compared to citizens of other countries.
“There is that part of the US political psyche that takes rights to a complete extreme,” said Brown, adding that “mass civil unrest” is an ever present possibility due to Americans sharing a “deep independent streak that believes the government is a nice-to-have not a must-have.”
The host of the show opined that if “anarchy” were to break out across the United States, “the government can’t bring the people to heel” due to the Second Amendment.
Brown said he had friends on Capitol Hill who were very worried about mass social disorder and a “gun battle on the streets.”
Brown said that so long as most people believed that states were...
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