The jobless rate today is almost certainly higher than at any point since the Great Depression. We think it’s around 13 percent and rising at a speed unmatched in American history.
It’s the first day that America’s small businesses can apply for the SBA’s Paycheck Protection Program, i.e., the $350BN program that is part of the bigger $2 trillion bailout package designed to provide small businesses access to capital for payroll and other overhead costs to the tune of 2.5 months of average payroll and which must be accessed via an existing banking relationship – and the rollout is predictably a mess, with some banks such as BofA already accepting loans (which convert to grants if used exclusively for payrolls and business continuity purposes), while others like JPM delaying the roll out to 1pm; a third group of banks such as Wells Fargo has conspicuously failed to provide its rollout plans – perhaps it is scheming how to cross-sell bailout loans with auto insurance or engage in some other typically Wellsfargoian fraud. Continue reading “Millions Of Small Businesses Stunned To Learn They Are Not Eligible For Bailout Loans”
A record-smashing 6,648,000 people filed for unemployment in the week ending March 28 amid the novel coronavirus pandemic, according to data released by the U.S. Department of Labor on Thursday. Continue reading “Record 6.6 million Americans file for unemployment amid coronavirus crisis”
The FBI ran more than 3.7 million background checks on Americans buying guns under the National Instant Criminal Background Check System (NICS) in March, smashing the previous record as Americans armed themselves amid growing fears about the coronavirus pandemic. Continue reading “March blows past record for gun background checks amid coronavirus pandemic”
President Trump said Wednesday that Iran is planning a “sneak attack” on U.S. troops or “assets” in Iraq, warning the country will pay a “heavy price” if this happens. Continue reading “Trump says Iran planning ‘sneak attack’ on US troops, assets in Iraq”
Labor rights advocates on Monday urged the public to show support and solidarity with Amazon employees who walked off the job at a Staten Island warehouse following what the workers said was an unacceptable response by the company to at least one case of coronavirus at the facility. Continue reading “Amazon, Whole Foods Workers Walk Off Job to Protest Unjust and Unsafe Labor Practices”
President Trump on Saturday night said the administration would not be issuing a quarantine on New York, parts of New Jersey and some of Connecticut as part of the efforts to curb the spread of the coronavirus. Continue reading “Trump says coronavirus quarantine on New York, New Jersey, Connecticut not necessary, CDC issues 14-day ‘travel advisory’”
Congress has passed a $2.2 trillion coronavirus stimulus package to help Americans affected by the coronavirus pandemic. The bill includes direct cash assistance, additional unemployment funds, and tax credits to employers. Called the CARES Act, the 880-page long legislation represented a rare moment of bipartisanship; it passed unanimously in the Senate. Continue reading “Will you get a ‘coronavirus check’? $2 trillion stimulus package explained”
The U.S. Department of Energy is suspending its plans to buy crude for the nation’s Strategic Petroleum Reserve after the requested $3 billion in funding for the project was left out of the $2 trillion stimulus package. Continue reading “US suspends plans to buy oil after funding is left out of $2 trillion stimulus package”
Americans displaced by the coronavirus crisis filed unemployment claims in record numbers last week, with the Labor Department reporting Thursday a surge to 3.28 million. Continue reading “Jobless claims soar past 3 million to record high”
Los Angeles County Sheriff Alex Villanueva has released 1,700 inmates from county facilities and is ordering gun stores in the county closed.
Los Angeles Mayor Eric Garcetti threatened “non-essential” businesses Tuesday that if they do not obey the city’s “stay at home” order to close during the pandemic crises, he will cut off their water and their electricity. Continue reading “Eric Garcetti Threat: Water, Power Shut Off if You Don’t Close Up Shop”
Early Wednesday morning, Senators Mitch McConnell and Chuck Schumer announced a massive $2 trillion stimulus deal set to be the largest economic stimulus package in modern American history.
“This is a wartime level of investment into our nation,” McConnell said. Continue reading “Here’s what’s in the $2 trillion coronavirus stimulus deal”
The spread of coronavirus has delayed a lot of wargames, but the US and United Arab Emirates both want to send a message to Iran, and that message comes in the form of 4,000 US troops and combined Emirati fighters conducting the biennial Native Fury exercise.
The exercise took place primarily at al-Hamra base, where a fictional Iranian city was constructed, mosques and all, for the troops to pretend to invade and conquer. Troops rampaged through the narrow streets looking for “enemy fighters.” Continue reading “US, UAE Ignore Coronavirus Risk, Hold Anti-Iran War Games”
Violating the new ‘stay home’’ order issued Monday by Gov. Kate Brown is a class C misdemeanor punishable by up to 30 days in jail, a fine of up to $1,250 or both, but police and sheriffs’ officials across the state said they’ll work first to tell people about the new coronavirus restrictions before cracking down.
Brown pushed Oregonians to stay home except for essential work or buying food and similar supplies. She closed more businesses and said offices must allow people to do their jobs remotely if possible. Continue reading “What’s the penalty for breaking Oregon’s new ‘stay home’ order? Jail, $1,250 fine or both.”
From a Reader:
- New Hampshire lawsuit challenges state’s coronavirus ban on big gatherings on First Amendment grounds
- Authorities warn citizens of COVID-19 home robbery scams: ‘Do not let them in’
- Coronavirus Florida: Lake Worth Beach city commission meeting turns ugly
- At least someone’s doing well: Goldman Sachs gives CEO 20% raise as it forecasts crash for America
- The Lesson of COVID-19
- Did Disney’s Tangled Predict the Corona Virus?
- Hydroxychloroquine and azithromycin as a treatment of COVID-19: results of an openlabel non-randomized clinical trial
- PhD Researcher Judy Mikovits and Expert on Viruses Explains the Coronavirus and Reveals Information You are Not Likely to Hear in the Corporate Media
From Hal Apeeno:
California is now living its first full day under some of the most wide-reaching measures in the country, aimed at halting the coronavirus outbreak.
Gov. Gavin Newsom announced the “stay home” order for the state’s nearly 40 million residents on Thursday night Continue reading “California wakes up to strictest coronavirus measures in USA: Here are new rules”
The Senate passed the House’s coronavirus aid package on Wednesday, sending it to President Trump, who is expected to sign it.
Senators voted 90-8 on the bill that passed the House in a middle-of-the-night Saturday vote but needed dozens of pages of corrections and changes, which cleared the chamber on Monday. Continue reading “Senate passes House’s coronavirus aid bill, sending it to Trump”
A magnitude 5.7 earthquake hit the Wasatch Front shortly after 7 a.m., shaking homes from at least Logan and going all the way down to Utah County. It was the state’s largest earthquake since 1992, though at least so far there are no reports of major collapses.
The epicenter of the earthquake was northeast of Magna, according to the U.S. Geological Survey.
Oregon Gov. Kate Brown announced Monday she is banning seated dining at the state’s bars and restaurants and prohibiting gatherings of more than 25 people, in the latest set of drastic actions meant to curb the spread of the coronavirus.
Restaurants can continue take-out and delivery options and the prohibition on gatherings will have an exemption for grocery stores and retail outlets. The ban starts Tuesday and is scheduled to last at least four weeks. Continue reading “Oregon Orders All Restaurants And Bars To Restrict Access, And Bans Groups Larger Than 25”