The Good, The Bad, The Ugly

The Economy


  • The swift actions of the Fed have helped keep the US economy on track, thus far. Shipping volumes are coming back. (Source- Capital 361)

  • E-Commerce is surging. (Amazon 39%, Walmart 5%, Target 1% of all E-Commerce Sales)

  • 69% of small businesses that applied for the PPP loan have received it. (as of May 28th)

  • Consumers are paying down their credit card debt, and savings rose 30% in April. (Source: DWS)

  • Sales of new homes in the United States rose 16.6% in May, as homebuyers rushed to the housing market due to record-low mortgage rates.

  • Major airlines like American and Delta have seen the average share of seats climb approximately 55% from 15% in April. (Bloomberg 6/04/20)

  • Due to pent-up demand, consumer spending has increased in the past month as the country slowly reopens.


  • The oil and gas industry is hurting as demand for energy drops.

  • Severe state funding cuts for higher education, as layoffs continue for faculty and staff.

  • US-China relations continue to deteriorate, especially as China tries to control Hong Kong.

  • Car and truck inventory is decreasing for a number of the more popular models. (Source: WSJ)

  • Taxes will need to be increased to pay back the Covid-19 emergency measures.

  • The unemployment rate reached its highest level since the Great Depression while claims rose past 25 million as of the end of May. (Source-US BLS)

  • Household wealth in the United States fell by $6.5 trillion during the first 3 months of 2020. (Source: Federal Reserve)

Personally


  • We are finding new ways to connect with ourselves, our families, and our friends. 

  • There is a stronger sense of appreciation for our health-care professionals, teachers, bus drivers, grocery store workers, police, and all the others who serve our community.

  • Virtual birdwatching, Zoom art classes, Skype book clubs, long walks, time with family, and fun hobbies have all increased. 

  • Pollution is down- Carbon emissions have dropped by 8% and the canals of Venice are clear again!

  • Generosity and community service are spiking.

  • Many people are working at home and saving time and money by not commuting to work.

  • There are a minimum of 16 vaccine candidates in clinical trials across the globe, four of which are being tested in the U.S. At least half a dozen other companies plan to test their vaccines in the U.S. if the candidates move past the preclinical stage. (Source- World Health Organization)

  • Telemedicine could make many services more accessible for years to come, including those for mental health.


  • As of 6/24/2020, the pandemic has claimed at least 122,481 people and infected more than 2.4 million nationwide, according to Johns Hopkins University. Infection numbers are surging in many southern and western states.

  • Working parents are taking on an additional 28 hours a week of household chores and childcare. (Source-Bloomberg News)

  • Domestic violence is rising worldwide.

  • The total lack of structure and increased anxiety has put many of us in limbo, made us feel unproductive, and disrupted our sleep.

  • There is an overload of work and stress on doctors and other healthcare professionals who are at high risk.

  • Depression, suicide, and mental illness are on the rise due to the stress, isolation, and uncertainty of the pandemic. “We are facing the loss of mental health centers and programs at a time when we are going to need them more than ever,” said Chuck Ingoglia, president of the National Council for Behavioral Health.