Coronavirus Latest: Positive Economic News

Here are some major coronavirus developments that are making headlines right now…

  1. As much as billionaires REALLY want us all to get back to working for themBen Bernanke, the former Chairman of the Federal Reserve, says the economic fallout from coronavirus is more like a “major snowstorm” than the Great Depression.

 

Quote, “This is a very different animal . . . The Great Depression lasted for 12 years and it came from human problems:  Monetary and financial shocks that hit the system.”  And he sees a, quote, “fairly quick” recovery.

 

  1. A company has made an interactive map of the entire U.S. so you can see how your state and county have done with social distancing.  They use cell phone GPS tracking data, which is kinda creepy, but hey, it’s interesting.

 

  1. The $2 trillion stimulus bill was passed by the Senate last night in a unanimous 96-to-0 vote.  It’ll head to the House now, and we can expect a vote as early as tomorrow morning.

 

The bill provides bailouts to big businesses, relief for some small businesses, and aid to hospitals.

It will give $1,200 to adults and $500 to children in households that make less than $75,000-a-year for individuals or $150,000-a-year for couples.  But that money WON’T arrive in time to pay rent and mortgages that are due next week.

 

  1. On that note, Cheesecake Factory sent a letter to all of its landlords telling them they won’t be paying rent on April 1st.

 

  1. New Orleans has the world’s highest growth rate of coronavirus cases.  Some experts think it could be because of the virus spreading at Mardi Gras . . . which happened after the virus was in the U.S., but before we all realized its seriousness.

 

  1. There could be several periods of on-and-off social distancing in the U.S. until a vaccine arrives, according to a study from Harvard.

 

  1. Wondering how this is all going to end?  Here’s a very interesting and insightful look from “The Atlantic”.

 

  1. Studies are still rapidly trying to figure out how to prevent, treat, and beat coronavirus.  One small study found that the malaria drug chloroquine is not any more effective than standard care.  And New York hospitals are using Vitamin C.

 

  1. Researchers in Singapore have developed a test that can tell if someone’s infected with coronavirus in as fast as five minutes.

 

  1. How much money have you lost because of the pandemic?  28% of people say $0 . . . 27% say more than $1,500.

 

  1. Let’s say it again:  Coronavirus does not just affect the elderly.  Nearly HALF of the confirmed cases in New York City are people under 45.

 

  1. All 94 patients at a nursing home in New Jersey are now believed to be positive for coronavirus.

 

  1. The “Waffle House Index” . . . which gauges the destruction of a natural disaster by how many Waffle Houses have closed . . . is not good right now.  418 of the 2,000 or so locations are now temporarily closed.

 

(Various sourcing in article)