November 7, 2020
We start this entry off with some good news. The unemployment rate has fallen to 6.9%
For years, 7% was regarded as statistical full employment. So, in spite of some parts of the country reeling under the Coronavirus pandemic spiking in their region, unemployment is going down.
The ironies and oddities of this story are almost too thick to cut. President Trump just went down in defeat in the General Election in part due to his handling of the pandemic. While pollsters lost a lot of credit this election, it's generally been the case that going into the election it was felt that the strong economy, pre pandemic, would have carried him through the fall. Assuming that's true, the economy did prove to be remarkably sound, as he maintained in the campaign, as it rebounded quickly, but just too late to aid him, maybe.
Additionally, part of the rebound is undoubtedly due to pandemic fatigue and that local Governors, who have been in control of individual state responses, do not have the political wills to shut anything back down. Trump never wanted to. That may have had a really pronounced human cost, however.
Anyhow, the economy appears to be recovering.
November 15, 2020
Guitar Center, a national musical instrument retailer, is filing for bankruptcy.
The company's debt problems have been long term and, therefore, this can't be directly tied to the pandemic. Indeed, I'd have thought that the sale of musical instruments might have increased while people have been stuck at home.
November 17, 2020
Governor Gordon announced $500,000,000 in budget cuts. The move still leave the state in a deficit spending situation.
While almost all departments, including the University of Wyoming, received cuts, there were things that notable did not, including the Governor's clean coal program and the lawsuit regarding coal access to ports. These were probably left intact in hopes that they'd pay off in the future.
The remaining $300,000,000 deficit is attributable to K-12 education costs, which are constitutionally protected.
This deserves a separate thread, which will be posted later.
December 10, 2020
Not really directly related, but something that's related to something getting a lot use in the current era, the Federal Government launched anti trust litigation against Facebook. 48 states are also parties with the Federal Government in the action.
December 13, 2020
UCLA economists predict a gloomy economic winter followed by a roaring post vaccine spring in which the economy will go from bad to good, and remain good, for a period of years.
January 6, 2021
The price of oil hit an eleven year high following a Saudi Arabian agreement to cut their production of oil.
European stock markets climbed yesterday where as American ones fell following early indications that the Republicans had probably lost the Senate.
January 20, 2021
FedEx is cutting 6,300 jobs in Europe. The jobs are being lost as FedEx consolidates its purchase of a competitor, TNT.
January 30, 2021
Toys R US closed its last two stores in the United States.
July 22, 2021
We probably ought to start a new one of these, as we aren't in a recession anymore, but as this was the last general economic thread, we'll start here.
Ford has ceased production of its new Bronco line of 4x4s due to material shortages.
General Motors has ceased production of trucks for the same reasons.
Across the nation, at the same time, small employers of certain types are reporting that employees laid off during the pandemic are not returning to work.
July 27, 2021
Airlines are concerned about a lack of aviation fuel. This has been caused by supply chain issues and an increased demand due to fire fighting requirements.
August 4, 2021
The CDC has reimposed a moratorium on evictions due to the pandemic.
The prior moratorium was statutorily imposed. It's quite questionable whether or not the CDC has the authority to unilaterally impose a moratorium.
Prior and related threads:
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