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.

Contact Us

2201 Cahaba Valley Drive, Ste. 200,

Birmingham, Alabama 35242

Phone: 205-967-9595
Fax: 205-967-9114

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Strauss Financial Group, Inc. provides fee-based investment services.

 

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