An arbitrary and whimsical look at virus induced tendencies, trends and knock downs. – AutoCrat.
6 November 2020 – The Pulse of America Weakening. Mood Muddy? Based on responses collected October 14 through October 26, the Household Pulse Survey From the US Census estimates that:
- 24.1% of American adults expect someone in their household to experience a loss in employment income in the next 4 weeks
- 36.9% of adults live in households where at least one adult substituted some or all in-person work for telework because of the corona-virus pandemic
- 10.9% of American adults lived in households where there was either sometimes or often not enough to eat in the previous 7 days
- 7.0% of adults are either not current on their rent or mortgage payment, or have slight or no confidence in making their next payment on time
- Of adults living in households not current on rent or mortgage, 28.4% report eviction or foreclosure in the next two months is either somewhat or highly likely
- 33.1% of adults live in households where it has been somewhat or exceedingly difficult to pay usual household expenses during the corona-virus pandemic
- 82.5% of adults in households with post-secondary educational plans had those plans cancelled or significantly changed this fall.
4 November 2020 – Safer at Home Economic Effects. The US Census Bureau today notes that Social Distancing and “Safer-at-Home” procedures in effect for months now have had widespread effects across the economy. Some industries were affected much more quickly, as behavioral changes predated any official stay-at-home directives Census believes.
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The first example is transportation revenue, which already was dropping. “Passenger transportation industries saw revenue declines in both the first and second quarters of 2020. However, the results were mixed for goods-moving industries. Quarter-to-quarter percent change in seasonally adjusted revenue for air, truck, and transit and ground passenger transportation and couriers and messengers over the past five years show: Continue reading →
Federal Reserve President on Do Nothing Republicans – The Economy Goes Where The Virus Goes
If Trump continues his 4-year-old tantrum and keeps kicking his feet and holding his breathe while Covid continues unabated, he will turn into a Blue State…
Mary Daly, President of the San Francisco Federal Reserve this morning observed on CNBC that the US economy continues to expand “but at a slower pace than we had right after we came back from the shelter in place orders, and that’s really a reaction to two things. First of all, we had to ramp up to get back into activity and that caused a surge in growth, so a natural slowing is expected.
“But I also see the rising caseloads and we know that, voluntarily, people are going back into their homes; they’re less confident in going out when caseloads rise, and so I would expect some further slowing as we go forward consistent with the rising caseloads. Same thing we’ve been hearing for a while, top priority is getting the virus under control.” Continue reading →