COVID-19: Relief Package Passes Senate As Jobless Claims Break All Records

Ken AshfordEbola/Zika/COVID-19 Viruses, Economy & Jobs & Deficit, Trump & AdministrationLeave a Comment

636: Number of confirmed cases in the state of North Carolina12,910: Number of coronavirus tests conducted in the state2: Number of deaths related to the coronavirus in North Carolina 17: Cases in Forsyth County; zero deaths Winston-Salem will go into “stay at home” order beginning at 5 p.m. Friday. A full list of essential businesses, along with the full stay-at-home order … Read More

COVID-19: Cake Or Death?

Ken AshfordEbola/Zika/COVID-19 Viruses, Economy & Jobs & Deficit, Trump & AdministrationLeave a Comment

World as of 10 am: Spain’s coronavirus death toll overtook that of China on Wednesday, rising to 3,434 after 738 people died over the past 24 hours, the government said. The spiraling number of deaths came as Spain entered the 11th day of an unprecedented lockdown to try and rein in the COVID-19 epidemic that has now infected 47,610 people. Prince Charles has … Read More

The Daily COVID-19: Downer and Downer

Ken AshfordEbola/Zika/COVID-19 Viruses, Economy & Jobs & Deficit, Trump & AdministrationLeave a Comment

1) #Coronavirus now in 56 countries2) World Health Organization raises risk assessment to its highest level 3) Financial loss to Americans estimated at $4 trillion this week4) Silence on this from President today; econ advisor Kudlow thinks market oversold — West Wing Reports (edited by Paul Brandus) (@WestWingReport) February 28, 2020 At its low today, the Dow wiped out all … Read More

COVID-19 Update: Looking Worse But Pence Is On It, So It Is Certain To Be Worse

Ken AshfordEbola/Zika/COVID-19 Viruses, Economy & Jobs & Deficit, Trump & AdministrationLeave a Comment

At a news conference yesterday, the president announced that the president was doing a wonderful job handling the coronavirus, a statement that filled me with confidence, as it came from the president himself. The vice president and HHS head also announced that the president was doing a great job, and the president, at that point, officially put the vice president … Read More

COVID-19 Impacts Dow

Ken AshfordEbola/Zika/COVID-19 Viruses, Economy & Jobs & DeficitLeave a Comment

Stocks fell sharply on Monday as the number of coronavirus cases outside China surged, stoking fears of a prolonged global economic slowdown from the virus spreading. The Dow Jones Industrial Average closed 1,031.61 points lower, or 3.56%, at 27,960.80. The S&P 500 slid 3.35% to 3,225.89 while the Nasdaq Composite closed 3.71% lower at 9,221.28. It was the Dow’s biggest … Read More

Taxing The Rich

Ken AshfordClass Warfare, Economy & Jobs & Deficit, Occupy Wall StreetLeave a Comment

Read this. You’re smarter than I am: The authors here estimated (very roughly) that a 2% wealth tax limited to top 0.1% (net worth over ~$43 million) would raise $2.6 trillion over ten years, assuming a 15% avoidance rate and no other behavioral responses…. or… … a 2% wealth tax limited to top 1% (net worth over ~$10 million) would … Read More

Dow Plunges 800+ Points

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

As Trump tries to deflect his role as the unspoken leader of the violent right extremism, his attacks on China and threats of more tariffs are hurting the economy. Today, the stock market is plunging. Trade bellwethers Caterpillar and Boeing dropped 3.6% and 3%, respectively. Semiconductor stocks like Micron Technology, Skyworks Solutions and Advanced Micro Devices fell at least 4.7%. … Read More

Then And Now

Ken AshfordEconomy & Jobs & Deficit, Trump & AdministrationLeave a Comment

Then (March 2019) Great news from @Ford! They are investing nearly $1 BILLION in Flat Rock, Michigan for auto production on top of a $1 BILLION investment last month in a facility outside of Chicago. Companies are pouring back into the United States – they want to be where the action is! — Donald J. Trump (@realDonaldTrump) March 20, 2019 … Read More

Trump’s New Deficit-Exploding Budget

Ken AshfordEconomy & Jobs & Deficit, Trump & AdministrationLeave a Comment

WaPo: President Trump is releasing a $4.7 trillion budget plan Monday that stands as a sharp challenge to Congress and the Democrats trying to unseat him, the first act in a multi-front struggle that could consume Washington for the next 18 months. The budget proposal dramatically raises the possibility of another government shutdown in October, and Trump used to the … Read More

Amazon Not Going To NYC

Ken AshfordBreaking News, Economy & Jobs & DeficitLeave a Comment

BREAKING: Amazon says it has canceled plans to build a headquarters in NYC. pic.twitter.com/6BPPEE1MDF — MSNBC (@MSNBC) February 14, 2019 The online retailer faced opposition from some politicians, who were unhappy with the tax incentives Amazon was promised. No matter what you think of the decision, what’s fascinating about the Amazon news is what it says about 1. The surging … Read More

Cost Of The Government Shutdown: $3 Billion

Ken AshfordEconomy & Jobs & Deficit, Gubmint Shutdown, Trump & AdministrationLeave a Comment

The U.S. economy will likely never recover $3 billion lost during the five-week partial government shutdown, according to a report released by the Congressional Budget Office on Monday. The 35-day shutdown ― the longest such closure in U.S. history ― reportedly reduced GDP in the fourth quarter of 2018 by $3 billion and an additional estimated $8 billion in the … Read More