From the blog: expanded unemployment insurance is clearly cushioning the blow to income from layoffs better than in 2008-09, but nowhere near enough to fully offset losses. Something to keep in mind as the debate over extending the expanded benefits picks up in the weeks ahead
India’s cash rich IT services companies are eyeing captive technology centres of global corporations, as they gear up to provide IT and back-office services at lower costs and offset a demand slowdown from the US and European markets
This chart,on US personal spending,also required a re-calibration of the y-axis--first to accommodate March's 6.9% drop and now for April's 13.6% fall Also of note re today's data Slight rise in consumer sentiment, but short of expectations Fall in wages offset by relief payments
Food vendors offer fair fare this week at Extraco Center to offset COVID-19 losses
Consumers saved much of what they received from the government in April. Wages and salaries fell sharply but that was offset by a $2.9t (annual rate) rise in gov't transfers (the $1,200 check, and enhanced unemp. benefits.) Spending fell $1.9t, leading to a 33% savings rate.
Trump is seeking to kick millions of families and children off food assistance. Meanwhile, he's preparing to send another $14 billion to big agribusinesses to offset the damage from his trade war. His values are clear: Welfare for corporations. Hunger for American families.