haha, I stand corrected!
Current Affairs General US politics (ie, not POTUS related)
- Thread starter Dylan
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Career politician not arsed to learn about the things he needs knowledge about to do his job properly. Needs retiring.
TN Toffee
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Fantastic. Can’t wait to see which Republican wacko is first to be dragged out kicking and screaming about freedom.
Grinch
*Sips Coffee*
4th amendment and HIPAA I think will work against that
summerisle
The rain, it raineth every day
Grinch
*Sips Coffee*
Hannity is more turd than slug
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3 Months Of Hell: U.S. Economy Drops 32.9%, In Worst GDP Report Ever
July 30, 20205:00 AM ET
Heard on Morning Edition
SCOTT HORSLEY
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Updated at 8:57 a.m. ET
The coronavirus pandemic triggered the sharpest economic contraction in modern American history, the Commerce Department reported Thursday.
Gross domestic product — the broadest measure of economic activity — shrank at an annual rate of 32.9% in the second quarter, as restaurants and retailers closed their doors in a desperate effort to slow the spread of the virus. The economic shock in April, May and June was roughly four times as sharp as the worst quarterly decline during the Great Recession.
"Horrific," said Nariman Behravesh, chief economist at IHS Markit. "We've never seen anything quite like it."
Another 1.43 million people filed for state unemployment last week, an increase of 12,000, the Labor Department reported Thursday. It was the second week in a row of increased unemployment filings and shows that the economic picture continues to remain grim.
GDP swings are typically reported at an annual rate — as if they were to continue for a full year — which can be misleading in a volatile period like this. The overall economy in the second quarter was 9.5% smaller than during the same period a year ago. After a sharp drop in March and April, economic activity began to rebound in May and June, although that recovery remains halting and could be jeopardized by a new surge of infections.
ANALYSIS
$600 A Week: Poverty Remedy Or Job Slayer?
"As soon as the virus started to take off again in key states like Texas, California, Arizona, Florida, it's fading very rapidly," Behravesh said.
Restaurant owner Cameron Mitchell likens the pandemic to a hurricane. What appeared to be a business rebound in June turned out to be merely the eye of the storm, and he's now being buffeted by gale-force winds again.
"Our associates are more scared to work today and guests are more afraid to go out, so sales have dropped," Mitchell said.
Cameron Mitchell operates more than 50 restaurants in 13 states. He says business was rebounding in June but has dropped again with the surge in new coronavirus infections.
Cameron Mitchell Restaurants
Business at his restaurants in Florida had nearly recovered to pre-pandemic levels in June but has since fallen sharply.
Other industries have enjoyed a more durable recovery, though few are back to where they were in February.
Dentists' offices are ordinarily one of the more stable parts of the economy, but they closed for all but emergency services during much of the spring. Dental hygienist Alexis Bailey was out of work for 10 weeks before her office in Lansing, Mich., reopened at the end of May.
At first, she was reluctant to go back to work while the virus was still circulating.
"I was terrified," Bailey said. "I was not happy to be back. But I have a job to do and I like to do it and I want to help people. We talk about how essential we are, so that's what we've had to do."
Mamma Mia, that's alarming. Hopefully it is just short term
Herman Cain dies from coronavirus
BirkenheadBlue
Player Valuation: £70m
Because of course.
interesting short thread on him from his former campaign manager
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