CV Central - 5/14/2020 - "Macro Trends for the Coronavirus World"
We take the 20,000 foot view in Episode 69 as we look at the bigger problems with the economy and how society has to restructure itself to meet the demands of people which change less amidst a virus that is making us rethink much of how we live. We start by looking at a Fed wanting to do more, a Washington incapable of doing anything, and how the original buying in strategy is reaching beyond where private capital will go as bankruptcies rise, profits and taxes fall, and demands for bailouts become bigger. States are working in conjunction, debt amnesty is proposed, and solutions being mentioned now might prove possible in a second wave destroying hopes for a V recovery. We see the questions arise about where people will live in a world where people are a viral threat, how automation means jobs are not coming back, and the thought of UBI as a solution to a world where people need money, businesses can't hire them, consumption is required, and government are asked to act.
Live tracking numbers from the CDC: https://www.cdc.gov/coronavirus/2019-ncov/covid-data/covidview/index.html
Fed less concerned about debt than restarting economy: https://www.reuters.com/article/us-usa-fed-powell-fiscal/fed-chief-has-no-time-to-worry-about-u-s-debt-during-wartime-idUSKBN22P30A
Private capital warning stock market is massively overvalued: https://finance.yahoo.com/news/wall-street-heavyweights-sounding-alarm-223330724.html
Bankruptcies starting to mount in America: https://news.yahoo.com/wave-covid-19-bankruptcies-poses-next-threat-us-012544535--finance.html
The fight over what DC will or won't do: https://www.cnet.com/personal-finance/will-we-get-another-irs-stimulus-check-what-we-hear-about-a-proposed-second-round/
Sales tax shortfalls massive throughout NY due to shut down: https://nypost.com/2020/05/12/ny-sales-tax-collections-plunged-24-in-april-comptroller-says/
Western states requesting trillon dollar bailout: https://www.cnn.com/2020/05/11/politics/western-states-relief/index.html
Biden endorses amnesty on mortgage and rental debt: https://www.forbes.com/sites/shaharziv/2020/05/13/biden-proposal-cancel-rent-and-mortgage-payments-not-paid-later-forgiveness/#12298c547385
How people could move and change location priorities: https://www.politico.com/news/magazine/2020/05/13/how-coronavirus-could-upend-human-migration-251715
Automation acceleration to save companies ensures jobs will not be coming back for many: https://www.forbes.com/sites/simonchandler/2020/05/12/coronavirus-is-forcing-companies-to-speed-up-automation-for-better-and-for-worse/#3f1b2b655906
UBI gaining more acceptance: https://www.cbc.ca/news/politics/universal-basic-income-covid-coronavirus-pandemic-1.5536144
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