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04.30.2020

Economy contracted 4.8 percent in the first quarter as job losses top 30 million in a little over a month in bid to stop the virus

By Robert Romano The U.S. economy contracted by a massive, inflation-adjusted 4.8 percent in the first quarter according to the Bureau of Economic Analysis as job losses topped 30.3 million with another 3.8 million initial unemployment insurance claims in the federal and state governments’ bids to stop the Chinese coronavirus pandemic. Factor in the 5.8 […]

04.29.2020

Virginia protesters call for the reopening of the Commonwealth economy—before it’s too late

By Richard McCarty Virginia’s capital should be getting used to conservative protests by now. For the third time this year, conservatives flocked to Richmond to protest last week. In January, conservatives assembled to support the Second Amendment and oppose anti-gun legislation. The following month, conservatives rallied in […]

04.27.2020

Unemployment just getting started if interest rates are any indication as President Trump eyes big phase four to reopen America

By Robert Romano The unemployment rate will likely continue rising as the spread between the 10-year treasury on one side, and the 2-year and 3-month treasuries on the other, continue rising over the next weeks and months, an analysis of interest rates over the past four recession […]

04.24.2020

As the virus slows down, Congress grants Trump’s request for another $370 billion to save small businesses in Main Street rescue plan

By Robert Romano Congress has passed another round of relief to save as many of the 30 million small businesses nationwide as possible, with another $310 billion on top of the $350 billion that was already spent. An additional $60 billion is going to small businesses in the form of the Economic Injury Disaster […]

04.23.2020

Another 4 million jobs lost, total rises to more than 26 million since closures, unemployment could already be more than 20 percent

By Robert Romano Another 4.4 million Americans filed for initial unemployment claims last week, raising the total to more than 26 million who have lost their jobs since the COVID-19 pandemic economic closures began in all 50 states more than a month ago. But it could be as high as […]

04.22.2020

Deflation is here, and it is a real threat to any economic recovery from the virus

By Robert Romano The price of a barrel of oil briefly fell below zero dollars this week, demonstrating clearly what happens when there is no longer demand for a product or commodity, as tens of millions of Americans are leaving cars in their driveways and airlines are largely grounded. All around […]

04.21.2020

Cartoon: Our Worst Nightmare

04.17.2020

President Trump and coronavirus taskforce unveil federal strategy to reopen America community by community, state by state

By Robert Romano President Donald Trump, Vice President Mike Pence and the White House coronavirus task force have unveiled the administration’s strategy and recommendations for reopening America in three phases, community by community and state by state at a time of their choosing so that America’s way of life and economy can get […]

04.17.2020

The country’s well-being depends upon the economy being reopened

By Richard McCarty Some might think it is improper to talk about the economy during a pandemic, but the fact of the matter is that a strong economy is vital to the country’s well-being. A weak economy reduces tax revenues impairing the ability of governments to deliver vital […]

04.16.2020

If larger states don’t start reopening soon, we might need a bank debt holiday to avert another financial crisis with millions of foreclosures

By Robert Romano Another 5.2 million Americans filed for initial unemployment claims last week, bringing the total number of jobs lost to the Chinese coronavirus and related government closures to anywhere from 21.8 million to 24.8 million jobs lost in about one month, and when added to the 5.8 million who were already jobless , produces an effective unemployment rate of 16.7 to 18.5 […]

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