Congress recently sweetened the terms for businesses seeking loans to survive the economic impact of the coronavirus pandemic with the passage of the Paycheck Protection Program Flexibility Act of 2020, amending the original PPP loan program enacted as part of the CARES Act (summarized): The SBA had previously provided that PPP loans would have a … Read more
The breaking news headline is Unemployment rate falls to 13.3%, US adds 2.5 million jobs: Economists had forecast that the government will report Friday that employers shed 8.5 million more jobs last month on top of 21.4 million lost in March and April. A figure that large would raise the total losses since the coronavirus … Read more
The Arizona Republic published a happy talk economic forecast today. ‘The old economy is gone’: Business, education leaders see post-virus rebound for Arizona: “The opportunities for Arizona are unbelievable” with Arizona having “maybe the greatest potential of any state,” said Michael Crow, president of Arizona State University and one of the webinar participants. The coronavirus … Read more
On Wednesday, the United States reached the milestone of 100,000 confirmed dead from the coronavirus pandemic. Vice President Joe Biden delivered a video eulogy for the dead. President Donald Trump spent the day slandering former congressman and now MSNBC host Joe Scarborough with a false accusation of murder, and threatening social media, his precious Twitter, … Read more
The U.S. economic response to the coronavirus pandemic has been entirely ass-backwards and is doomed to cause greater economic pain in coming months. It relied on antiquated state unemployment insurance systems that Republican states have specifically designed to be hard to use to dissuade the unemployed from filing for benefits to which they are entitled, … Read more